Bulgaria: Isolating Switch Market 2024

Isolating Switch Market Size in Bulgaria

The Bulgarian isolating switch market amounted to $X in 2022, growing by 3.5% against the previous year. Over the period under review, consumption enjoyed prominent growth. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Isolating Switch Production in Bulgaria

In value terms, isolating switch production reduced to $X in 2022 estimated in export price. In general, the total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.3% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 53% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Isolating Switch Exports

Exports from Bulgaria

In 2022, shipments abroad of isolating switches & make-and-break switches increased by 70% to X units, rising for the fourth consecutive year after two years of decline. Overall, exports recorded a resilient increase. The pace of growth was the most pronounced in 2021 when exports increased by 87%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, isolating switch exports skyrocketed to $X in 2022. Over the period under review, exports posted a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 134%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Switzerland (X units) was the main destination for isolating switch exports from Bulgaria, with a 77% share of total exports. Moreover, isolating switch exports to Switzerland exceeded the volume sent to the second major destination, Saudi Arabia (X units), more than tenfold. The third position in this ranking was taken by the United States (X units), with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Switzerland totaled +103.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+262.1% per year) and the United States (0.0% per year).

In value terms, Switzerland ($X) remains the key foreign market for isolating switches & make-and-break switches exports from Bulgaria, comprising 77% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 7.4% share of total exports. It was followed by the United States, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value to Switzerland stood at +105.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+249.8% per year) and the United States (0.0% per year).

Export Prices by Country

In 2022, the average isolating switch export price amounted to $X per unit, picking up by 2.6% against the previous year. In general, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +9.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, isolating switch export price decreased by -11.7% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 70%. Over the period under review, the average export prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per unit) and Saudi Arabia ($X per unit), while the average price for exports to Sweden ($X per unit) and Switzerland ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Isolating Switch Imports

Imports into Bulgaria

In 2022, isolating switch imports into Bulgaria skyrocketed to X units, jumping by 34% against the previous year's figure. Over the period under review, imports enjoyed noticeable growth. The pace of growth was the most pronounced in 2019 with an increase of 233%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, isolating switch imports soared to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 437% against the previous year. Imports peaked at $X in 2017; afterwards, it flattened through to 2022.

Imports by Country

In 2022, Russia (X units) constituted the largest isolating switch supplier to Bulgaria, with a 51% share of total imports. Moreover, isolating switch imports from Russia exceeded the figures recorded by the second-largest supplier, Germany (X units), fivefold. The third position in this ranking was taken by Italy (X units), with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume from Russia stood at +37.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.9% per year) and Italy (-12.4% per year).

In value terms, the largest isolating switch suppliers to Bulgaria were Russia ($X), Switzerland ($X) and the Czech Republic ($X), with a combined 58% share of total imports.

Switzerland, with a CAGR of +78.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average isolating switch import price stood at $X per unit in 2022, with a decrease of -10.5% against the previous year. Over the period under review, the import price showed a noticeable setback. The growth pace was the most rapid in 2015 when the average import price increased by 99% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for Russia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :