Sri Lanka: Electrical Fuse Market 2025

Electrical Fuse Market Size in Sri Lanka

The Sri Lankan electrical fuse market soared to $X in 2021, with an increase of 41% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a pronounced expansion. Electrical fuse consumption peaked in 2021 and is likely to continue growth in years to come.

Electrical Fuse Exports

Exports from Sri Lanka

In 2021, shipments abroad of electrical fuses decreased by -79% to X kg, falling for the second consecutive year after six years of growth. Over the period under review, exports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2018 when exports increased by 233%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, electrical fuse exports shrank sharply to $X in 2021. In general, exports recorded a deep setback. The most prominent rate of growth was recorded in 2016 when exports increased by 146% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Norway (X kg) was the main destination for electrical fuse exports from Sri Lanka, with a 75% share of total exports. Moreover, electrical fuse exports to Norway exceeded the volume sent to the second major destination, Uganda (X kg), tenfold. The third position in this ranking was held by Switzerland (X kg), with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Norway totaled +60.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (+2.0% per year) and Switzerland (+7.3% per year).

In value terms, Switzerland ($X), Norway ($X) and France ($X) were the largest markets for electrical fuse exported from Sri Lanka worldwide, with a combined 69% share of total exports.

Norway, with a CAGR of +37.5%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electrical fuse export price stood at $X per ton in 2021, jumping by 53% against the previous year. Overall, the export price enjoyed a notable increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by 413%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+1.2%), while the prices for the other major destinations experienced a decline.

Electrical Fuse Imports

Imports into Sri Lanka

In 2021, the amount of electrical fuses imported into Sri Lanka skyrocketed to X tons, surging by 39% compared with the previous year. Over the period under review, imports enjoyed noticeable growth. The most prominent rate of growth was recorded in 2017 with an increase of 161%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, electrical fuse imports soared to $X in 2021. In general, imports posted noticeable growth. The pace of growth was the most pronounced in 2017 when imports increased by 100%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of electrical fuse to Sri Lanka, with a 61% share of total imports. Moreover, electrical fuse imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Italy (X tons) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India totaled +45.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.0% per year) and Italy (+73.6% per year).

In value terms, India ($X) constituted the largest supplier of electrical fuses to Sri Lanka, comprising 42% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by Brazil, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India totaled +40.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.6% per year) and Brazil (+10.1% per year).

Import Prices by Country

In 2021, the average electrical fuse import price amounted to $X per ton, leveling off at the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 64%. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+6.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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