LCD or LED indicator panels market in Bulgaria

Earlier Report Observations

Between 2018 and 2019, the market volume for LCD or LED indicator panels in Bulgaria surged from 132.5 t to 215.4 t. This expansion was supported by record sales of sensors and micro-electromechanical systems (MEMS) in 2018, which are essential components for indicator panels. The following year, the EU-wide solar energy boom and over 100% growth in the photovoltaic market increased demand for related LED technologies in Bulgaria.

In 2020, the market contracted to 155.8 t, interrupting the previous growth trend. Available data does not specify drivers for this decline, but the market volume remained above its 2018 level.

By 2023, the market reached 264.3 t. New European battery regulations adopted that year likely influenced the production and use of LED panels and their components. Simultaneously, emerging LED lighting technologies, such as adaptive and biodynamic lighting, entered the market. In 2024, the full liberalization of Bulgaria's electricity market and new EU funding programs for household photovoltaic systems further stimulated demand for LED-based indicator panels in energy applications.

Production LCD or LED indicator panels in Bulgaria

In kind, 2017-2020, kg

Bulgaria's production of LCD or LED indicator panels declined after two consecutive years of growth. In 2019, production reached its peak at 96 696 kg, but then fell by 19.9% to 77 475 kg in 2020. Over the four-year period from 2017 to 2020, overall production increased by 18.8%, which translates to an average annual growth rate of 5.9%. The most significant year-on-year increase occurred in 2018, when production jumped by 28.8%.

Annual dynamics of production in Bulgaria in kind, 2017-2020, kg

Exports LCD or LED indicator panels from Bulgaria

Exports in kind, t

Bulgaria's exports of LCD or LED indicator panels dropped to 40.0 tonnes in 2020, representing a 31.5% decrease compared to 2019. Over the period from 2017 to 2020, exports declined by 40.3%, averaging an annualized reduction of 15.8%. The only notable increase during this timeframe was in 2019, when exports rose by 7.1%.

Annual dynamics of product's exports from Bulgaria in kind, 2017-2020, t

From 2017 to 2020, Bulgaria's exports of LCD or LED indicator panels were primarily directed to three key markets: Belgium, which accounted for 52.3% of total exports by volume, Romania with 26.2%, and France at 6.3%. Together, these three countries represented 84.8% of Bulgaria's total export volume for these products.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Bulgaria in kind, 2017-2020

Exports in value, K $ US

After two years of growth, Bulgaria's exports of LCD or LED indicator panels in value terms experienced a sharp decline. In 2019, exports peaked at 6 675 thousand US dollars, but then plummeted by 47.9% to 3 478 thousand US dollars in 2020. Over the 2017-2020 period, export value decreased by 31.4%, with an average annual decline of 11.8%. The most substantial increase occurred in 2018, when export value grew by 17.8%.

Annual dynamics of product's exports from Bulgaria in value, 2017-2020, K $ US

Between 2017 and 2020, Belgium dominated as Bulgaria's primary export market for LCD or LED indicator panels in value terms, accounting for 73.1% of total export revenue. Other destinations collectively represented a much smaller share of Bulgaria's export earnings from these products.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Bulgaria in value, 2017-2020

Imports LCD or LED indicator panels to Bulgaria

Imports in kind, t

Bulgaria's imports of LCD or LED indicator panels showed significant volatility during the 2017-2020 period. Import volume reached its lowest point in 2017, then surged to a peak of 177.1 tonnes in 2019—a 2.4-fold increase from the 2017 level—before declining to approximately 118.4 tonnes in 2020, representing a 33.1% drop from the previous year. The most dramatic year-on-year increase occurred in 2019, when imports jumped by 71.9%.

Annual dynamics of product's imports to Bulgaria in kind, 2017-2020, t

From 2017 to 2020, Bulgaria's imports of LCD or LED indicator panels by volume were concentrated among three main suppliers: China, which provided 36.2% of total imports, Germany with 16.0%, and Asia (not elsewhere specified) at 14.7%. Together, these sources accounted for 66.9% of Bulgaria's total import volume for these products.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Bulgaria in kind, 2017-2020

Imports in value, K $ US

Following two years of expansion, Bulgaria's imports of LCD or LED indicator panels in value terms contracted in 2020. Import value reached 18 237 thousand US dollars in 2019, then fell by 19.7% to 14 639 thousand US dollars in 2020. Despite this recent decline, imports showed strong overall growth from 2017 to 2020, increasing by 76.4% over the four-year period, which corresponds to an average annual growth rate of 20.8%. The most significant year-on-year increase occurred in 2018, when import value rose by 56.1%.

Annual dynamics of product's imports to Bulgaria in value, 2017-2020, K $ US

During the 2017-2020 period, Bulgaria's imports of LCD or LED indicator panels in value terms were primarily sourced from three key regions: Asia (not elsewhere specified) accounted for 30.0% of total import value, China contributed 22.5%, and Germany represented 13.2%. Collectively, these three sources made up 65.8% of Bulgaria's total import expenditure on these products.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Bulgaria in value, 2017-2020