Sri Lanka: Market for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles 2025

Market Size for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Sri Lanka

The Sri Lankan market for electrical lighting or visual signaling equipment for motor vehicles and cycles plummeted to $X in 2022, shrinking by X% 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). In general, consumption saw a perceptible downturn. As a result, consumption attained the peak level of $X, and then dropped remarkably in the following year.

Exports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Exports from Sri Lanka

After three years of growth, shipments abroad of electrical lighting or visual signaling equipment for motor vehicles and cycles decreased by X% to X units in 2022. Overall, exports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. The exports peaked at X units in 2021, and then fell sharply in the following year.

In value terms, lighting equipment for motor vehicles exports dropped significantly to $X in 2022. Over the period under review, exports recorded a mild descent. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Maldives (X units), Saudi Arabia (X units) and Germany (X units) were the main destinations of lighting equipment for motor vehicles exports from Sri Lanka, with a combined X% share of total exports. Oman, the United Arab Emirates, Australia, the Netherlands and the UK lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Maldives ($X), Australia ($X) and Oman ($X) constituted the largest markets for lighting equipment for motor vehicles exported from Sri Lanka worldwide, together accounting for X% of total exports.

Among the main countries of destination, Oman, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for electrical lighting or visual signaling equipment for motor vehicles and cycles stood at $X per unit in 2022, reducing by X% against the previous year. In general, the export price showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Saudi Arabia ($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 Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Imports into Sri Lanka

In 2022, the amount of electrical lighting or visual signaling equipment for motor vehicles and cycles imported into Sri Lanka contracted markedly to X units, waning by X% compared with the year before. Overall, imports recorded a drastic downturn. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, lighting equipment for motor vehicles imports shrank rapidly to $X in 2022. In general, imports showed a perceptible descent. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then reduced remarkably in the following year.

Imports by Country

India (X units), China (X units) and Hong Kong SAR (X units) were the main suppliers of lighting equipment for motor vehicles imports to Sri Lanka, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of X%), while imports for the other leaders experienced a decline.

In value terms, the largest lighting equipment for motor vehicles suppliers to Sri Lanka were India ($X), China ($X) and Japan ($X), with a combined X% share of total imports. Hong Kong SAR, Thailand and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

Hong Kong SAR, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for electrical lighting or visual signaling equipment for motor vehicles and cycles stood at $X per unit in 2022, with a decrease of X% against the previous year. In general, import price indicated noticeable growth from 2012 to 2022: its price 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. Based on 2022 figures, lighting equipment for motor vehicles import price decreased by X% against 2020 indices. The growth pace was the most rapid in 2013 when the average import price increased by X%. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 Japan ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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