Sri Lanka: Bicycle Lighting Market 2025

Bicycle Lighting Market Size in Sri Lanka

The Sri Lankan bicycle lighting market expanded rapidly to $X in 2021, picking up by 14% 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, however, continues to indicate a mild decline. Bicycle lighting consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Bicycle Lighting Exports

Exports from Sri Lanka

In 2021, overseas shipments of electrical or battery operated lighting or visual signalling for bicycles decreased by -17.2% to X units, falling for the third consecutive year after four years of growth. Over the period under review, exports, however, posted a strong increase. The pace of growth was the most pronounced in 2013 when exports increased by 800%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, bicycle lighting exports soared to $X in 2021. In general, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by 452%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Oman (X units) was the main destination for bicycle lighting exports from Sri Lanka, with a 73% share of total exports. Moreover, bicycle lighting exports to Oman exceeded the volume sent to the second major destination, Germany (X units), threefold.

From 2012 to 2021, the average annual growth rate of volume to Oman was relatively modest.

In value terms, Oman ($X) emerged as the key foreign market for electrical or battery operated lighting or visual signalling for bicycles exports from Sri Lanka, comprising 57% of total exports. The second position in the ranking was held by Germany ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Oman was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-8.5% per year) and India (-87.1% per year).

Export Prices by Country

The average bicycle lighting export price stood at $X per unit in 2021, growing by 82% against the previous year. Overall, the export price, however, showed a abrupt decrease. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+1,386.2%), while the prices for the other major destinations experienced a decline.

Bicycle Lighting Imports

Imports into Sri Lanka

Bicycle lighting imports into Sri Lanka rose notably to X units in 2021, surging by 9.8% compared with 2020. In general, imports, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 131% against the previous year. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, bicycle lighting imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 76%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest bicycle lighting supplier to Sri Lanka, accounting for a 72% share of total imports. Moreover, bicycle lighting imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), threefold.

From 2012 to 2021, the average annual growth rate of volume from China totaled -5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+21.0% per year) and India (-2.1% per year).

In value terms, the largest bicycle lighting suppliers to Sri Lanka were China ($X), Hong Kong SAR ($X) and India ($X), together comprising 94% of total imports.

Among the main suppliers, Hong Kong SAR, with a CAGR of +25.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average bicycle lighting import price amounted to $X per unit, picking up by 7% against the previous year. In general, import price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bicycle lighting import price decreased by -23.3% against 2017 indices. The pace of growth was the most pronounced in 2016 an increase of 53%. The import price peaked at $X per unit in 2017; however, from 2018 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 India ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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