
Bulgaria - Primary Cells and Primary Batteries - Market Analysis, Forecast, Size, Trends and Insights
Bulgaria: Battery Market 2023
Battery Market Size in Bulgaria
The Bulgarian battery market rose modestly to $X in 2021, with an increase of 3.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -4.7% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.
Battery Exports
Exports from Bulgaria
After three years of growth, overseas shipments of primary cells and primary batteries decreased by -39.5% to X tons in 2021. Over the period under review, exports, however, continue to indicate a measured expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 167% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then contracted markedly in the following year.
In value terms, battery exports shrank notably to $X in 2021. Overall, exports, however, saw prominent growth. The growth pace was the most rapid in 2018 when exports increased by 438% against the previous year. The exports peaked at $X in 2020, and then fell markedly in the following year.
Exports by Country
Italy (X tons) was the main destination for battery exports from Bulgaria, with a 41% share of total exports. Moreover, battery exports to Italy exceeded the volume sent to the second major destination, Latvia (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a 15% share.
From 2012 to 2021, the average annual rate of growth in terms of volume to Italy amounted to +77.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+280.2% per year) and Germany (+52.0% per year).
In value terms, Italy ($X) remains the key foreign market for battery exports from Bulgaria, comprising 64% of total exports. The second position in the ranking was taken by Germany ($X), with a 14% share of total exports. It was followed by Latvia, with a 5.7% share.
From 2012 to 2021, the average annual rate of growth in terms of value to Italy totaled +92.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+66.8% per year) and Latvia (+125.1% per year).
Export Prices by Country
The average battery export price stood at $X per ton in 2021, with an increase of 2.2% against the previous year. Overall, the export price posted strong growth. The most prominent rate of growth was recorded in 2015 when the average export price increased by 220% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.
Prices varied noticeably country of destination: the country with the highest price was Italy ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+16.1%), while the prices for the other major destinations experienced more modest paces of growth.
Battery Imports
Imports into Bulgaria
In 2021, approx. X tons of primary cells and primary batteries were imported into Bulgaria; picking up by 2.2% on 2020 figures. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 24% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.
In value terms, battery imports shrank dramatically to $X in 2021. Over the period under review, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +71.9% against 2015 indices. The pace of growth was the most pronounced in 2018 with an increase of 62% against the previous year. Imports peaked at $X in 2020, and then fell remarkably in the following year.
Imports by Country
Germany (X tons), Greece (X tons) and China (X tons) were the main suppliers of battery imports to Bulgaria, with a combined 57% share of total imports. Belgium, Poland, Italy, Hungary, the Czech Republic, the Netherlands, Hong Kong SAR and the UK lagged somewhat behind, together accounting for a further 38%.
From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +63.4%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest battery suppliers to Bulgaria were Italy ($X), Germany ($X) and Belgium ($X), together comprising 56% of total imports.
In terms of the main suppliers, Italy, with a CAGR of +69.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The average battery import price stood at $X per ton in 2021, dropping by -22.5% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 33% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then contracted markedly in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+19.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the battery market in Bulgaria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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