Report Update Nov 1, 2024

Sri Lanka - Equipment for Internal Combustion Engines - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in Sri Lanka

The Sri Lankan internal combustion engine equipment market shrank significantly to $X in 2022, waning by -54.1% 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 mild descent. Over the period under review, the market attained the peak level at $X in 2021, and then fell rapidly in the following year.

Exports of Equipment For Internal Combustion Engines

Exports from Sri Lanka

In 2022, the amount of equipment for internal combustion engines exported from Sri Lanka declined rapidly to X units, dropping by -90.5% against 2021. In general, exports saw a sharp setback. The pace of growth was the most pronounced in 2020 when exports increased by 219%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, internal combustion engine equipment exports declined remarkably to $X in 2022. Overall, exports recorded a sharp setback. The most prominent rate of growth was recorded in 2016 when exports increased by 352%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Bangladesh (X units) was the main destination for internal combustion engine equipment exports from Sri Lanka, with a approx. 50% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bangladesh amounted to -24.4%.

In value terms, Bangladesh ($X) emerged as the key foreign market for equipment for internal combustion engines exports from Sri Lanka.

From 2012 to 2022, the average annual growth rate of value to Bangladesh totaled -16.7%.

Export Prices by Country

The average internal combustion engine equipment export price stood at $X per unit in 2022, surging by 12% against the previous year. In general, the export price saw a prominent increase. The pace of growth appeared the most rapid in 2021 when the average export price increased by 88% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Maldives amounted to +21.4% per year.

Imports of Equipment For Internal Combustion Engines

Imports into Sri Lanka

In 2022, internal combustion engine equipment imports into Sri Lanka contracted remarkably to X units, declining by -46.5% compared with 2021 figures. In general, imports, however, recorded a perceptible increase. The most prominent rate of growth was recorded in 2016 when imports increased by 281%. Imports peaked at X units in 2021, and then declined sharply in the following year.

In value terms, internal combustion engine equipment imports contracted notably to $X in 2022. Overall, imports continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2016 with an increase of 169%. Imports peaked at $X in 2021, and then dropped significantly in the following year.

Imports by Country

In 2022, India (X units) constituted the largest supplier of internal combustion engine equipment to Sri Lanka, accounting for a 56% share of total imports. Moreover, internal combustion engine equipment imports from India exceeded the figures recorded by the second-largest supplier, Japan (X units), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+7.5% per year) and China (-3.2% per year).

In value terms, India ($X), Japan ($X) and China ($X) constituted the largest internal combustion engine equipment suppliers to Sri Lanka, with a combined 87% share of total imports.

Japan, with a CAGR of +1.7%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average internal combustion engine equipment import price stood at $X per unit in 2022, dropping by -24.3% against the previous year. Over the period under review, the import price showed a deep downturn. The growth pace was the most rapid in 2013 an increase of 57% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained 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 Japan ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for equipment for internal combustion engines in the world?

The countries with the highest volumes of in 2021 were China, Romania and the United States, with a combined 46% share of global consumption.

What are the largest producers of equipment for internal combustion engines in the world?

The countries with the highest volumes of in 2021 were China, Romania and the United States, with a combined 49% share of global production.

What are the leading suppliers of equipment for internal combustion engines to Sri Lanka?

In value terms, India constituted the largest supplier of internal combustion engine equipment to Sri Lanka, comprising 64% of total imports. The second position in the ranking was occupied by Japan, with a 16% share of total imports. It was followed by Hong Kong SAR, with a 5.2% share.

What are the leading importers of equipment for internal combustion engines from Sri Lanka?

In value terms, Maldives remains the key foreign market for internal combustion engine equipment exports from Sri Lanka, comprising 45% of total exports. The second position in the ranking was occupied by Australia $146), with a 4% share of total exports.

What is the average export price for equipment for internal combustion engines in Sri Lanka?

The average internal combustion engine equipment export price stood at $93 per unit in 2021, jumping by 71% against the previous year.

What is the average import price for equipment for internal combustion engines in Sri Lanka?

In 2021, the average internal combustion engine equipment import price amounted to $1.8 per unit, shrinking by -15% against the previous year.

This report provides an in-depth analysis of the market for internal combustion engine equipment 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 29312270 - Equipment, n.e.c., for internal combustion engines

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