Sri Lanka: Ignition Magneto Market 2025

Ignition Magneto Market Size in Sri Lanka

In 2021, the Sri Lankan ignition magneto market decreased by -77% to $X, falling for the second year in a row after five years of growth. Overall, consumption, however, continues to indicate a mild expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Ignition Magneto Exports

Exports from Sri Lanka

In 2021, ignition magneto exports from Sri Lanka surged to X units, jumping by 94% on 2020. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 482%. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, ignition magneto exports soared to $X in 2021. Overall, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 490% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Oman (X units) was the main destination for ignition magneto exports from Sri Lanka, with a 85% share of total exports. Moreover, ignition magneto exports to Oman exceeded the volume sent to the second major destination, Maldives (X units), sixfold.

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

In value terms, Maldives ($X) emerged as the key foreign market for ignition magnetos, magneto-dynamos and magnetic flywheels exports from Sri Lanka, comprising 66% of total exports. The second position in the ranking was taken by Oman ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives amounted to +12.7%.

Export Prices by Country

In 2021, the average ignition magneto export price amounted to $X per unit, declining by -13.9% against the previous year. Overall, the export price, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2014 an increase of 89%. The export price peaked at $X per unit in 2020, and then declined in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Maldives ($X per unit), while the average price for exports to Oman amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (+41.0%), while the prices for the other major destinations experienced mixed trend patterns.

Ignition Magneto Imports

Imports into Sri Lanka

In 2021, overseas purchases of ignition magnetos, magneto-dynamos and magnetic flywheels decreased by -74.6% to X units, falling for the second consecutive year after three years of growth. Overall, imports continue to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2015 when imports increased by 284%. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, ignition magneto imports reduced notably to $X in 2021. In general, imports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 294%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X units) constituted the largest ignition magneto supplier to Sri Lanka, accounting for a 81% share of total imports. Moreover, ignition magneto imports from India exceeded the figures recorded by the second-largest supplier, China (X units), sixfold.

From 2012 to 2021, the average annual growth rate of volume from India stood at +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-17.7% per year) and Japan (-2.0% per year).

In value terms, India ($X) constituted the largest supplier of ignition magnetos, magneto-dynamos and magnetic flywheels to Sri Lanka, comprising 74% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from India amounted to +22.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.9% per year) and Japan (+6.3% per year).

Import Prices by Country

In 2021, the average ignition magneto import price amounted to $X per unit, falling by -17% against the previous year. Over the period under review, the import price, however, continues to indicate a prominent expansion. The pace of growth was the most pronounced in 2014 an increase of 107% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by China (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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