Bulgaria: Market for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles 2022

Market Size for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Bulgaria

The Bulgarian market for tyres for agriculture, forestry, construction, industry and other off the road vehicles totaled $X in 2021, increasing by X% 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). Overall, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2014 indices. Consumption peaked in 2021 and is likely to continue growth in years to come.

Exports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Exports from Bulgaria

In 2021, overseas shipments of tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by X% to X units for the first time since 2016, thus ending a four-year declining trend. In general, exports recorded a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles skyrocketed to $X in 2021. Over the period under review, exports enjoyed a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Greece (X units) was the main destination for exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Bulgaria, with a X% share of total exports. Moreover, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Greece exceeded the volume sent to the second major destination, Romania (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Greece amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+X% per year) and Hungary (+X% per year).

In value terms, Greece ($X) emerged as the key foreign market for agricultural, construction and industrial machinery tyre exports from Bulgaria, comprising X% of total exports. The second position in the ranking was occupied by Romania ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Greece amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+X% per year) and Hungary (+X% per year).

Export Prices by Country

In 2021, the average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, waning by -X% against the previous year. In general, the export price recorded a deep setback. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Hungary ($X per unit), while the average price for exports to Greece ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+X%), while the prices for the other major destinations experienced a decline.

Imports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Imports into Bulgaria

In 2021, approx. X units of tyres for agriculture, forestry, construction, industry and other off the road vehicles were imported into Bulgaria; with an increase of X% on 2020 figures. Over the period under review, imports showed resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles skyrocketed to $X in 2021. The total import value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Germany (X units) constituted the largest supplier of agricultural, construction and industrial machinery tyre to Bulgaria, with a X% share of total imports. Moreover, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), threefold. India (X units) ranked third in terms of total imports with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+X% per year) and India (+X% per year).

In value terms, the largest agricultural, construction and industrial machinery tyre suppliers to Bulgaria were Belarus ($X), India ($X) and Romania ($X), together comprising X% of total imports. These countries were followed by Turkey, Germany, Russia, the Netherlands, Spain, Serbia, China and Slovenia, which together accounted for a further X, with a CAGR of +X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, falling by -X% against the previous year. Over the period under review, the import price continues to indicate a abrupt decline. The growth pace was the most rapid in 2018 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Romania ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :