Bulgaria: Electrical Fuse Market 2024

Electrical Fuse Market Size in Bulgaria

After two years of growth, the Bulgarian electrical fuse market decreased by -25.7% to $X in 2021. In general, consumption saw a deep contraction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Electrical Fuse Production in Bulgaria

In value terms, electrical fuse production fell dramatically to $X in 2021 estimated in export price. In general, production faced a precipitous curtailment. The pace of growth was the most pronounced in 2014 with an increase of 25% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Electrical Fuse Exports

Exports from Bulgaria

For the fifth year in a row, Bulgaria recorded growth in shipments abroad of electrical fuses, which increased by 69% to X tons in 2021. In general, exports saw strong growth. The pace of growth was the most pronounced in 2013 when exports increased by 155%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, electrical fuse exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a strong increase. The growth pace was the most rapid in 2013 when exports increased by 226% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Italy (X tons) was the main destination for electrical fuse exports from Bulgaria, with a 55% share of total exports. Moreover, electrical fuse exports to Italy exceeded the volume sent to the second major destination, Romania (X tons), threefold. The third position in this ranking was taken by Turkey (X tons), with a 6.2% share.

From 2012 to 2021, the average annual growth rate of volume to Italy totaled +21.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+17.0% per year) and Turkey (+129.5% per year).

In value terms, Italy ($X) remains the key foreign market for electrical fuses exports from Bulgaria, comprising 27% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 12% share of total exports. It was followed by Romania, with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy stood at +16.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+105.8% per year) and Romania (+10.8% per year).

Export Prices by Country

The average electrical fuse export price stood at $X per ton in 2021, rising by 8.9% against the previous year. In general, export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electrical fuse export price increased by +60.4% against 2016 indices. The most prominent rate of growth was recorded in 2013 an increase of 28%. The export price peaked in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Romania ($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 Saudi Arabia (+25.3%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Fuse Imports

Imports into Bulgaria

In 2021, supplies from abroad of electrical fuses increased by 8.2% to X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, imports, however, saw a pronounced decrease. The pace of growth appeared the most rapid in 2016 when imports increased by 48% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, electrical fuse imports rose rapidly to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 38%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of electrical fuse to Bulgaria, accounting for a 41% share of total imports. Moreover, electrical fuse imports from Turkey exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was held by China (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey totaled +53.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+9.7% per year) and China (+1.7% per year).

In value terms, the largest electrical fuse suppliers to Bulgaria were Germany ($X), Turkey ($X) and Italy ($X), together comprising 54% of total imports.

In terms of the main suppliers, Turkey, with a CAGR of +53.2%, recorded the highest growth rate of 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 electrical fuse import price stood at $X per ton in 2021, growing by 3.1% against the previous year. In general, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electrical fuse import price increased by +77.3% against 2016 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 45% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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