Retreaded tyres for buses or lorries market in Bulgaria

Earlier Report Observations

Between 2018 and 2020, the market for retreaded tyres for buses and lorries in Bulgaria expanded from 4.1 million USD to 5.3 million USD. This growth was underpinned by the rising popularity of retreaded tyres as a more economical alternative for truck and bus operators. Key market players such as RIZHKO OOD, Primex EOOD, and DIANA OOD actively traded and serviced retreaded tyres, supporting broader market access and development.

A sharp acceleration occurred in 2021, with the market value surging to 11.8 million USD and reaching 16.7 million USD by 2022. This rapid expansion followed the adoption of amendments to Bulgaria's regulation on product fees for tyres, which took effect in January 2022. The new rules strengthened control and monthly reporting requirements for placing retreaded tyres on the market, likely formalizing sales and contributing to the recorded market growth.

Production retreaded tyres for buses or lorries in Bulgaria

In value, 2017-2020, K $ US

Bulgaria's production of retreaded tyres for buses and lorries has grown for the third year in a row. In 2020, the output was valued at 4 500 thousand US dollars, marking a 21.6% increase compared to 2019. From 2017 to 2020, production rose by 51.1%, with an average annual growth rate of 14.8%.

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

In kind, 2017-2020, unit

Bulgaria's production volume of retreaded tyres for buses and lorries has increased for the third consecutive year. In 2020, the country produced 22 647 units, showing a modest year-on-year growth of 10.0%. Between 2017 and 2020, production grew by 34%, which translates to an annualized rate of 10.3%.

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

Exports retreaded tyres for buses or lorries from Bulgaria

Exports in kind, unit

The data shows irregular changes, pointing to a volatile market environment. Export volumes reached their lowest point in 2018 at 1 136 units and peaked in 2020 at 3 264 units, with the peak being 2.9 times higher than the low. In 2020, exports from Bulgaria increased by 33.8% compared to the previous year. The largest decline occurred in 2018, falling by 31.6%, while the largest increase was in 2019, surging by 114.7%.

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

From 2017 to 2020, Germany, Ukraine, and Spain were the core destinations for Bulgaria's exports in kind. Germany accounted for 38.7% of exports, Ukraine for 13.7%, and Spain for 11.1%. Together, these three countries made up 63.5% of total export 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

Bulgaria's exports of retreaded tyres for buses and lorries in value terms have declined for the second consecutive year. In 2020, exports amounted to 427 thousand US dollars, reflecting a sharp contraction of 23.4% compared to 2019. Over the period from 2017 to 2020, exports decreased by 62.1%, with an average annual decline of 27.6%. The highest value was recorded in 2018 at 1 296 thousand US dollars. The largest drop occurred in 2019, falling by 57.0%, while the largest increase was in 2018, rising by 15.0%.

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

Between 2017 and 2020, North Macedonia, Italy, and Germany were the main markets for Bulgaria's exports in value terms. North Macedonia represented 63.2% of exports, Italy 11.4%, and Germany 10.1%. Collectively, these three countries accounted for 84.6% of total export 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 retreaded tyres for buses or lorries to Bulgaria

Imports in kind, unit

In 2020, Bulgaria imported 5 259 units of retreaded tyres for buses and lorries, which is 20.2% lower than in 2019. From 2017 to 2020, imports decreased by 39.7%, equating to an annualized decline of 15.5%. The largest decline was in 2018, dropping by 24.6%, while the largest increase was in 2019, with a slight rise of 0.3%.

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

Throughout 2017 to 2020, Romania, Germany, and the Netherlands were the leading sources for Bulgaria's imports in kind. Romania supplied 48.7% of imports, Germany 21.3%, and the Netherlands 7.7%. Together, these three countries contributed 77.8% of total import 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

Bulgaria's imports of retreaded tyres for buses and lorries in value terms have fallen for the second year in a row. In 2020, imports totaled 1 804 thousand US dollars, showing a gradual drop of 6.7% compared to the previous year. From 2017 to 2020, imports decreased by 25.7%, with an average annual decline of 9.4%. The maximum value was recorded in 2018 at 1 804 thousand US dollars. The largest decline occurred in 2019, falling by 26.0%, while the largest increase was in 2018, rising by 7.7%.

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

From 2017 to 2020, Romania, Austria, and Italy dominated Bulgaria's import structure in value terms. Romania accounted for 64.4% of imports, Austria for 7.9%, and Italy for 7.3%. Combined, these three countries represented 79.6% of total import flows.

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

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