In 2021, the Bulgarian market for pulley tackle and hoists powered by an electric motor decreased by -X% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption continues to indicate a deep contraction. As a result, consumption reached the peak level of $X, and then shrank sharply in the following year.
In value terms, production of pulley tackle and hoists powered by an electric motor rose to $X in 2021 estimated in export price. Over the period under review, production showed a slight decrease. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production of growth failed to regain momentum.
In 2021, overseas shipments of electric motor-driven pulley tackle and hoists will increase by X% to X units for the first time since 2018, thus ending a two-year decline. During the period under review, total exports showed a clear increase from 2012 to 2021: over the past nine years, its total exports have grown at an average annual rate of +X%. However, the trend pattern shows that some notable fluctuations were recorded throughout the analysis period. As a result, exports have peaked and may continue to grow in the short term.
Exports of Pulley Tackles and Lifts Powered by Electric Motors Significantly Rise to $X in 2021, in value terms. But overall, exports are in a relatively flat trend pattern. The most prominent growth rate was 2013, when exports increased by X%. As a result, exports peak at $X. From 2014 to 2021, export growth remains at a low figure.
Ireland (X units), Russia (X units) and Sweden (X units) are the main destinations for Bulgaria's exports of electric pulleys and lifts, together accounting for X% of the total exports. From 2012 to 2021, the largest increase will be in Ireland (+X% CAGR), while the other leaders will experience more modest growth rates in terms of shipments.
In value terms, Russia ($X) remains the main foreign market for electric motor driven pulley tackle and lifts exported by Bulgaria, accounting for X% of total exports. In second place is Iran ($X), which accounts for X% of total exports. This is followed by Spain with an X% share.
From 2012 to 2021, the average annual growth rate of the Russian value is -X%. The average annual growth rate of exports to other major destinations is as follows: Iran (+X% per year) and Spain (-X% per year).
Foreign purchases of electric motor-driven pulley tackle and hoists fell -X% to X units in 2021, declining for the second year in a row after three years of growth. Overall, however, imports rose moderately. The most prominent growth rate was in 2019, with an increase of X%. As a result, imports peaked at station X. From 2020 to 2021, import growth will remain at a low figure.
Imports of pulley tackle and hoists driven by electric motors fell to $X in value terms in 2021. Overall, imports fell sharply. The most prominent growth rate was in 2018, when imports increased by X%. Imports peaked at $X in 2012; however, imports failed to regain momentum from 2013 to 2021.
In 2021, China (X units) is Bulgaria's largest pulley spreader and cranes, accounting for X% of total imports. In addition, imports of electric motor-driven pulley tackle and lifts from China surpassed the record figure of the second-largest supplier, Poland (Taiwan X), by five times. Germany (X vehicles) ranks third in terms of total imports, accounting for X%.
From 2012 to 2021, the average annual growth rate of sales volume from China is +X%. The average annual growth rates of imports for the remaining supplying countries are as follows: Poland (+X%/year) and Germany (-X%/year).
By value, the largest pulley spreaders and hoists powered by Bulgarian electric motor suppliers are Poland ($X), China ($X) and Germany ($X), together accounting for X% of total imports. With a CAGR of +X%, Poland recorded the highest import value growth rate among the major suppliers during the period under review, while the other leaders experienced more modest purchase growth.
In value terms, Poland, China and Germany constituted the largest pulley tackle and hoists powered by an electric motor suppliers to Bulgaria, with a combined 72% share of total imports.
In value terms, Russia remains the key foreign market for pulley tackle and hoists powered by an electric motor exports from Bulgaria, comprising 62% of total exports. The second position in the ranking was taken by Iran, with an 8.5% share of total exports. It was followed by Spain, with a 0.7% share.
The average export price for pulley tackle and hoists powered by an electric motor stood at $1,739 per unit in 2021, declining by -50.5% against the previous year.
The average import price for pulley tackle and hoists powered by an electric motor stood at $386 per unit in 2021, growing by 26% against the previous year.
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