Sri Lanka: Inductor Market 2024

Inductor Market Size in Sri Lanka

The Sri Lankan inductor market expanded modestly to $X in 2022, increasing by 3.4% against the previous year. In general, consumption enjoyed a resilient increase. Inductor consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Inductor Production in Sri Lanka

In value terms, inductor production dropped to $X in 2022 estimated in export price. In general, production recorded a resilient expansion. The pace of growth appeared the most rapid in 2015 with an increase of 84%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Inductor Exports

Exports from Sri Lanka

Inductor exports from Sri Lanka reduced rapidly to X units in 2022, with a decrease of -79.2% against the previous year's figure. Overall, exports, however, recorded resilient growth. The pace of growth was the most pronounced in 2016 when exports increased by 201%. Over the period under review, the exports attained the maximum at X units in 2021, and then declined remarkably in the following year.

In value terms, inductor exports shrank notably to $X in 2022. In general, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2016 with an increase of 220%. Over the period under review, the exports reached the peak figure at $X in 2021, and then contracted markedly in the following year.

Exports by Country

The UK (X units), Switzerland (X units) and the Czech Republic (X units) were the main destinations of inductor exports from Sri Lanka, with a combined 73% share of total exports. Singapore, Sweden, China, Hungary, Hong Kong SAR, Malaysia and Thailand lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Singapore (with a CAGR of +199.5%), while the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X) remains the key foreign market for inductors exports from Sri Lanka, comprising 55% of total exports. The second position in the ranking was held by the Czech Republic ($X), with a 9.9% share of total exports. It was followed by the UK, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value to Switzerland stood at +36.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+56.6% per year) and the UK (+91.7% per year).

Export Prices by Country

The average inductor export price stood at $X per unit in 2022, declining by -23.5% against the previous year. In general, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, inductor export price decreased by -27.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 64% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to the UK (less than $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 Vietnam (+26.1%), while the prices for the other major destinations experienced more modest paces of growth.

Inductor Imports

Imports into Sri Lanka

In 2022, purchases abroad of inductors decreased by -27.9% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, posted resilient growth. The growth pace was the most rapid in 2021 when imports increased by 122% against the previous year. As a result, imports attained the peak of X units, and then reduced rapidly in the following year.

In value terms, inductor imports contracted to $X in 2022. Over the period under review, imports, however, posted strong growth. The growth pace was the most rapid in 2020 with an increase of 140% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then contracted in the following year.

Imports by Country

China (X units), Switzerland (X units) and India (X units) were the main suppliers of inductor imports to Sri Lanka, together accounting for 75% of total imports. The United States, Germany, Canada, the Philippines, Japan and Singapore lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Philippines (with a CAGR of +36.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X) constituted the largest supplier of inductors to Sri Lanka, comprising 53% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports. It was followed by India, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value from Switzerland amounted to +26.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+21.9% per year) and India (+8.6% per year).

Import Prices by Country

In 2022, the average inductor import price amounted to $X per unit, picking up by 27% against the previous year. Over the period under review, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, inductor import price decreased by -9.7% against 2020 indices. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 Japan (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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