Overview of the automotive industry in Bulgaria
Market research analysts at Technavio have predicted that the automotive industry in Bulgaria will grow at steadily and post a CAGR of close to 4% over the forecast period. Automobile registrations have been increasing in Bulgaria, with about 130,000 units registered in 2014. This rise in the number of on-road automobiles directly influences the aftermarket sales. Factors such as the increasing sales of imported automobiles and longer lifespan of automobiles in Bulgaria will lead to an augmented demand for automotive parts and accessories in Bulgaria. The use of automobiles for long periods influences consumers to increase their spending on automobiles, which is expected to create new opportunities for automobile manufacturers in the coming years.
One of the significant trends that will propel this market’s growth prospects is the increasing adoption of electronic devices in automobiles. A desire to differentiate their products has led automobile manufacturers to incorporate several electronic components in the vehicles. Moreover, consumers prefer automobiles incorporated with advanced electronics and devices, such as infotainment systems and active and passive safety systems, which is envisaged to aid in this market’s growth during the predicted period.
Product segmentation and analysis of the automotive industry in Bulgaria
- Electrical and electronic equipment for motor vehicles
- Parts and accessories for motor vehicles
During 2015, the electrical and electronic equipment segment dominated the automotive industry in Bulgaria and accounted for more than 70% of the market shares in terms of revenue.
Competitive landscape and key vendors
The automotive industry in Bulgaria is highly fragmented with more than 200 manufacturers present in the market. Although foreign manufacturers dominate the market, several low-cost manufacturers offer economical automotive parts and accessories. The manufacturers compete on the basis of price, innovation, quality and performance, customer-centrism, brand /image, and service quality. Key manufacturers in the market also provide technical support sought by non-residential end-users at the time of purchase. The competition is moderate in the market, with the key manufacturers focusing on the development and introduction of technologically advanced products.
Key vendors in this market are -
- Fransizkup
- Grammer
- Iksetik (Ixetic)
- Integrated Micro-electronics Bulgaria
- Johnson Controls Electronics Bulgaria
- Kaumet
- KEMMLER Electronic
- Kostal Holding
- Melexis Bulgaria
- Montupe
- Robert Bosch
- Sensor-Nite Industrial (subsidiary of Ixetic)
- Visteon Electronics Bulgaria
- Witte Automotive
- Yazaki Bulgaria
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 automotive industry in Bulgaria?
- What are the key market trends impacting the growth of the automotive industry in Bulgaria?
- What are the challenges to market growth?
- Who are the key vendors in the automotive industry in Bulgaria?
- What are the market opportunities and threats faced by the vendors in the automotive industry in Bulgaria?
- Trending factors influencing the market shares of Bulgaria.
- What are the key outcomes of the five forces analysis of the automotive industry in Bulgaria?
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This is preliminary content. The table of contents is subject to change.
PART 01: Executive summary
PART 02: Scope of the report
- Market overview
- Top-vendor offerings
PART 03: Market research methodology
- Research methodology
- Economic indicators
PART 04: Introduction
PART 05: Market landscape
- Market size and forecast
- Five forces analysis
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
- Competitive landscape
- Other prominent vendors
PART 14: Key vendor analysis
PART 15: Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape