Report Update Nov 1, 2024

Sri Lanka - Electric Storage Heating Radiators - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Electric Heating Radiator Market 2024

Electric Heating Radiator Market Size in Sri Lanka

In 2021, the Sri Lankan electric heating radiator market increased by 1,040% to $X, rising for the second year in a row after four years of decline. Overall, consumption recorded a significant expansion. Electric heating radiator consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Electric Heating Radiator Exports

Exports from Sri Lanka

For the third consecutive year, Sri Lanka recorded growth in overseas shipments of electric storage heating radiators, which increased by 62% to X units in 2021. Overall, exports posted a significant expansion. The growth pace was the most rapid in 2017 with an increase of 450%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, electric heating radiator exports expanded significantly to $X in 2021. Over the period under review, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 216% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Maldives (X units) was the main destination for electric heating radiator exports from Sri Lanka, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Maldives stood at +40.3%.

In value terms, Maldives ($X) also remains the key foreign market for electric storage heating radiators exports from Sri Lanka.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives amounted to +7.2%.

Export Prices by Country

In 2021, the average electric heating radiator export price amounted to $X per unit, reducing by -31.2% against the previous year. Overall, the export price showed a dramatic shrinkage. The pace of growth appeared the most rapid in 2016 when the average export price increased by 245%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Maldives.

From 2012 to 2021, the rate of growth in terms of prices for Maldives amounted to -23.5% per year.

Electric Heating Radiator Imports

Imports into Sri Lanka

In 2021, overseas purchases of electric storage heating radiators increased by 765% to X units, rising for the second year in a row after four years of decline. Overall, imports posted a significant increase. Over the period under review, imports attained the peak figure at X units in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, electric heating radiator imports soared to $X in 2021. Over the period under review, imports showed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia (X units), China (X units) and India (X units) were the main suppliers of electric heating radiator imports to Sri Lanka, together accounting for 49% of total imports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +48.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constituted the largest supplier of electric storage heating radiators to Sri Lanka, comprising 35% of total imports. The second position in the ranking was taken by India ($X), with a 12% share of total imports. It was followed by the UK, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia amounted to +57.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+8.6% per year) and the UK (+38.0% per year).

Import Prices by Country

The average electric heating radiator import price stood at $X per unit in 2021, increasing by 16% against the previous year. In general, the import price, however, continues to indicate a perceptible reduction. The growth pace was the most rapid in 2019 when the average import price increased by 51%. As a result, import price attained the peak level of $X per unit. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+6.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for electric storage heating radiators in the world?

China constituted the country with the largest volume of electric heating radiator consumption, accounting for 33% of total volume. Moreover, electric heating radiator consumption in China exceeded the figures recorded by the second-largest consumer, the United States, fourfold. The third position in this ranking was occupied by India, with a 7% share.

What are the largest producers of electric storage heating radiators in the world?

China remains the largest electric heating radiator producing country worldwide, accounting for 44% of total volume. Moreover, electric heating radiator production in China exceeded the figures recorded by the second-largest producer, India, fivefold. Germany ranked third in terms of total production with a 4% share.

What are the leading suppliers of electric storage heating radiators to Sri Lanka?

In value terms, China constituted the largest supplier of electric heating radiator to Sri Lanka, comprising 63% of total imports. The second position in the ranking was occupied by South Korea $576), with a 26% share of total imports.

What are the leading importers of electric storage heating radiators from Sri Lanka?

In value terms, Botswana $51) emerged as the key foreign market for electric heating radiator exports from Sri Lanka.

What is the average export price for electric storage heating radiators in Sri Lanka?

In 2015, the average electric heating radiator export price amounted to $17 per unit, reducing by -83.8% against the previous year.

What is the average import price for electric storage heating radiators in Sri Lanka?

The average electric heating radiator import price stood at $39 per unit in 2020, declining by -69.5% against the previous year.

This report provides an in-depth analysis of the electric heating radiator market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 27512630 - Electric storage heating radiators

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023