Electrical Equipment Market in Bulgaria 2016-2020

Outlook of the electrical equipment market in Bulgaria

According to Technavio’s market research analysts, the electrical equipment market in Bulgaria will grow at a modest CAGR of over 1% during the forecast period of 2016 to 2020.The recent increase in the inflow of FDI in this region will lead to the slow but moderate growth of the market. Post the global economic crisis, the inflow of FDI in Bulgaria declined and growth remained negative. However, since 2012, investments were on the rise, particularly in sectors like metal processing, machine building, and electronics and electrical equipment. Moreover, as foreign investments in the manufacture of export-oriented electrical equipment are also on the rise, the market for electrical equipment in Bulgaria will experience steady growth over the next few years.

The vendor’s focus on niche segments will also aid in spurring this market’s growth prospects in Bulgaria over the next four years. The market for energy-efficient lighting systems, especially LED-based lighting systems, is in its nascent stage in Bulgaria. As a result, new vendors are foraying into the market as its potential for growth is very high. While most manufacturers offer conventional LED-based products for interior and exterior lighting in residential and non-residential end-user segments, an increasing number of manufacturers are focusing on applications like LED modules for speedometers, LED lighting systems for yachts and MRI, and LED-based modules for the food industry.

Competitive landscape and key vendors

This market is fragmented and is marked by the presence of over 300 manufacturers. Foreign manufacturers and a few indigenous manufacturers dominate the market. In this market, some low-cost manufacturers over economical products, particularly to residential end users. The quality of products is a key concern in the market, with the overall consumer satisfaction level in the household electrical equipment market being just over 68%.

Top manufacturers analyzed in this market study are -

• ABB
• Datecs
• Elkabel
• Emka
• Fincom-2
• Gamakabel
• General Electric
• Hellenic Cables
• Incotex Group
• Legrand
• Monbat
• Monbat
• OctaLight
• Realux
• Samel-90
• Schneider Electric
• Solar LED Power

Product-based segmentation and analysis of the electrical equipment market in Bulgaria

• Electronic and electrical wires and cables
• Batteries and accumulators
• Wiring devices
• Electric lighting equipment
• Others (appliance cords, electric bells and related apparatus, electrical door opening and closing devices, and extension cords)

During 2015, the electronic and electrical wires and cables segment dominated this market and accounted for an impressive market share of almost 62%. The high demand from end-use industries, such as automotive, will drive the prospects for growth in this market segment.

Segmentation by end user and analysis of the electrical equipment market in Bulgaria

• Residential end-users
• Non-residential end-users

In this market study, analysts have noted that the non-residential segment dominated this market during 2015 by accounting for a market share of around 70%. This segment will dominate the market in terms of revenue due to the government’s focus on attracting FDI for the setting up of manufacturing units of export-oriented and high value-added electrical equipment.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the electrical equipment market in Bulgaria?
• What are the key market trends impacting the growth of the electrical equipment market in Bulgaria?
• What are the challenges to market growth?
• Who are the key vendors in the electrical equipment market in Bulgaria?
• What are the market opportunities and threats faced by the vendors in the electrical equipment market in Bulgaria?
• Trending factors influencing the market shares of Bulgaria.
• What are the key outcomes of the five forces analysis of the electrical equipment market in Bulgaria?

Technavio also offers customization on reports based on specific client requirement.

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