Multi-phase AC electric motors market in Bulgaria

Earlier Report Observations

The market volume for multi-phase AC electric motors in Bulgaria, measured in physical terms, grew from 40.8 thousand units in 2018 to 55.6 thousand units in 2023. This increase was not steady, with a notable peak of 58.6 thousand units in 2021 followed by a dip to 51.1 thousand units in 2022 before recovering. In value terms, the market expanded more consistently, rising from $13.6 million to $26.2 million over the same period.

Changes in domestic production, imports, and exports drove these fluctuations. Production in physical terms varied, reaching a high of 104.9 thousand units in 2022, while imports generally increased from 33.3 thousand units to 43.7 thousand units. Exports also rose significantly, peaking at 107.6 thousand units in 2022, which contributed to the temporary reduction in domestic market volume that year.

The divergence between physical volume and market value suggests a shift toward higher-value motors or increased unit prices. The average value per unit rose from approximately $333 in 2018 to $472 in 2023, reflecting changes in product mix or cost structures over the period.

Production multi-phase AC electric motors in Bulgaria

In value, 2017-2020, K $ US

In 2020, Bulgaria's output of multi-phase AC electric motors was valued at 15 790 K $ US, marking a 1.5% decline from the previous year. Over the period from 2018 to 2020, production increased by 6.1%, with a compound annual growth rate of 2.0%. The highest value was recorded in 2019 at 16 032 K $ US, which also saw the largest increase of 7.7%.

Annual dynamics of production in Bulgaria in value, 2017-2020, K $ US

In kind, 2017-2020, unit

In 2020, Bulgaria produced 67 845 units of multi-phase AC electric motors, representing a year-on-year decline of 23.8%. Between 2018 and 2020, production decreased by 21.8%, equating to an annualized rate of 7.9%. The peak was in 2019 with 88 993 units, which also experienced the largest increase of 2.5%.

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

Exports multi-phase AC electric motors from Bulgaria

Exports in kind, unit

Bulgaria's exports of multi-phase AC electric motors declined for the second consecutive year. In 2020, the country exported 56 285 units, showing a significant decrease of 21.1% compared to the prior year. From 2017 to 2020, exports fell by 17.4%, with an annualized rate of 6.2%. The maximum value was recorded in 2018 at 79 294 units, which also saw the largest increase of 16.4%.

Annual dynamics of product's exports from Bulgaria in kind, 2017-2020, unit

From 2017 to 2020, Germany, Russia, and Italy led the structure of exports in kind, accounting for 64.0%, 11.4%, and 6.6% of exports, respectively. Together, they represented 81.9% of total flows.

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

In 2020, Bulgaria's export volume of multi-phase AC electric motors amounted to 13 988 K $ US, showing an uptick of 15.0% compared to 2019. Over the period from 2017 to 2020, exports increased by 40.5%, with a compound annual growth rate of 12.0%. The largest decline was recorded in 2019 at 3.0%, while the largest increase occurred in 2018 at 26.0%.

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

From 2017 to 2020, Germany, Russia, and Italy consistently held leading positions in the country structure of exports in value terms, with shares of 47.1%, 14.8%, and 12.0%, respectively. Together, they accounted for 73.9% of total flows.

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

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

Imports multi-phase AC electric motors to Bulgaria

Imports in kind, unit

Cross-border shipments of multi-phase AC electric motors to Bulgaria increased for the third consecutive year. In 2020, imports amounted to 43 382 units, up by 21.8% compared with 2019. Between 2017 and 2020, imports grew by 56.7%, equating to an annualized rate of 16.2%.

Annual dynamics of product's imports to Bulgaria in kind, 2017-2020, unit

In the period from 2017 to 2020, Italy, China, and Germany led the structure of imports in kind, with shares of 37.8%, 16.8%, and 14.6%, respectively. Together, they represented 69.2% of total flows.

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

Imports of multi-phase AC electric motors to Bulgaria increased for the third consecutive year. In 2020, the import volume was recorded at 11 998 K $ US, up by 4.4% from a year earlier. Between 2017 and 2020, imports rose by 25.9%, equating to an annualized rate of 8.0%.

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

Throughout 2017 to 2020, Germany, Italy, and Austria remained the key partners in imports in value terms, with shares of 28.9%, 19.6%, and 11.2%, respectively. Together, they accounted for 59.6% of total flows.

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

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