Sri Lanka: Market for Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process 2024

Market Size for Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process in Sri Lanka

In 2022, the Sri Lankan market for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption, however, posted a measured increase. Consumption of peaked at $X in 2021, and then shrank significantly in the following year.

Exports of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process

Exports from Sri Lanka

In 2022, overseas shipments of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process decreased by X% to X units, falling for the fourth consecutive year after three years of growth. Overall, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process soared to $X in 2022. In general, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

India (X units), Maldives (X units) and the United Arab Emirates (X units) were the main destinations of exports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process from Sri Lanka.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), India ($X) and Maldives ($X) appeared to be the largest markets for machinery for material treatment by heating or cooling process exported from Sri Lanka worldwide.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average export price for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the export price recorded perceptible growth. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Maldives ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process

Imports into Sri Lanka

In 2022, overseas purchases of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process decreased by X% to X units, falling for the second year in a row after two years of growth. Overall, imports, however, continue to indicate a perceptible increase. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Over the period under review, imports of attained the peak figure at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process reduced markedly to $X in 2022. In general, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports of hit record highs at $X in 2021, and then reduced rapidly in the following year.

Imports by Country

In 2022, Belgium (X units) constituted the largest machinery for material treatment by heating or cooling process supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, imports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process from Belgium exceeded the figures recorded by the second-largest supplier, China (X units), twofold. India (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and India (X% per year).

In value terms, China ($X), India ($X) and Germany ($X) appeared to be the largest machinery for material treatment by heating or cooling process suppliers to Sri Lanka, together accounting for X% of total imports. Belgium, Poland, the United States, Switzerland and the Netherlands lagged somewhat behind, together comprising a further X%.

Belgium, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process stood at $X per unit in 2022, increasing by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per unit), while the price for Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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