Sri Lanka: Market for Motorcycles, Scooters and Side-Cars 2024

Market Size for Motorcycles, Scooters and Side-Cars in Sri Lanka

The Sri Lankan motorcycle, scooter and side-car market shrank markedly to $X in 2022, reducing by X% against the previous year. Over the period under review, consumption recorded a deep reduction. Motorcycle, scooter and side-car consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Motorcycles, Scooters and Side-Cars in Sri Lanka

In value terms, motorcycle, scooter and side-car production fell to $X in 2022 estimated in export price. Over the period under review, production enjoyed a significant expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Motorcycle, scooter and side-car production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Motorcycles, Scooters and Side-Cars

Exports from Sri Lanka

For the sixth consecutive year, Sri Lanka recorded growth in shipments abroad of motorcycles, scooters and side-cars, which increased by X% to X units in 2022. Over the period under review, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, motorcycle, scooter and side-car exports surged to $X in 2022. In general, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X units) was the main destination for motorcycle, scooter and side-car exports from Sri Lanka, with a X% share of total exports. Moreover, motorcycle, scooter and side-car exports to Italy exceeded the volume sent to the second major destination, Germany (X units), eightfold. The third position in this ranking was taken by the UK (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Italy totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and the UK (X% per year).

In value terms, Italy ($X) emerged as the key foreign market for motorcycles, scooters and side-cars exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and the UK (X% per year).

Export Prices by Country

In 2022, the average motorcycle, scooter and side-car export price amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the export price, however, recorded a perceptible reduction. Over the period under review, the average export prices attained the maximum at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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

Imports of Motorcycles, Scooters and Side-Cars

Imports into Sri Lanka

In 2022, motorcycle, scooter and side-car imports into Sri Lanka contracted significantly to X units, waning by X% against the previous year. Overall, imports recorded a precipitous decline. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, motorcycle, scooter and side-car imports fell sharply to $X in 2022. Over the period under review, imports continue to indicate a sharp descent. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest motorcycle, scooter and side-car supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, motorcycle, scooter and side-car imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and India (X% per year).

In value terms, the largest motorcycle, scooter and side-car suppliers to Sri Lanka were Japan ($X), China ($X) and India ($X), together accounting for X% of total imports.

Japan, with a CAGR of X%, 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 a decline.

Import Prices by Country

The average motorcycle, scooter and side-car import price stood at $X per unit in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($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 (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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