Sri Lanka: Market for Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators 2025

Market Size for Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators in Sri Lanka

In 2022, the Sri Lankan nickel and lithium accumulators market increased by 76% to $X, rising for the fifth year in a row after two years of decline. Over the period under review, consumption saw a remarkable increase. Nickel and lithium accumulators consumption peaked in 2022 and is expected to retain growth in years to come.

Exports of Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators

Exports from Sri Lanka

In 2022, exports of nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators from Sri Lanka dropped dramatically to X units, with a decrease of -97.9% against the previous year's figure. Over the period under review, exports continue to indicate a sharp descent. The pace of growth appeared the most rapid in 2014 with an increase of 2,559% against the previous year. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, nickel and lithium accumulators exports reduced remarkably to $X in 2022. In general, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2014 when exports increased by 3,679%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Maldives (X units), the United Arab Emirates (X units) and India (X units) were the main destinations of nickel and lithium accumulators exports from Sri Lanka, together comprising 68% of total exports. Seychelles, Denmark and Haiti lagged somewhat behind, together accounting for a further 7.8%.

From 2012 to 2022, the biggest increases were recorded for Haiti (with a CAGR of 0.0%), while shipments for the other leaders experienced a decline.

In value terms, Maldives ($X) emerged as the key foreign market for nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators exports from Sri Lanka, comprising 53% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total exports. It was followed by India, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives totaled -12.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-40.3% per year) and India (-30.0% per year).

Export Prices by Country

The average nickel and lithium accumulators export price stood at $X per unit in 2022, rising by 218% against the previous year. Overall, the export price continues to indicate a strong increase. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per unit), while the average price for exports to Haiti ($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 Oman (+206.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators

Imports into Sri Lanka

For the third year in a row, Sri Lanka recorded growth in supplies from abroad of nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators, which increased by 85% to X units in 2022. Over the period under review, imports enjoyed a notable increase. The pace of growth appeared the most rapid in 2014 with an increase of 243% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, nickel and lithium accumulators imports surged to $X in 2022. Overall, imports saw strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 136% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest supplier of nickel and lithium accumulators to Sri Lanka, with a 65% share of total imports. Moreover, nickel and lithium accumulators imports from China exceeded the figures recorded by the second-largest supplier, Norway (X units), sixfold. Hong Kong SAR (X units) ranked third in terms of total imports with a 6.4% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+165.6% per year) and Hong Kong SAR (-11.6% per year).

In value terms, China ($X) constituted the largest supplier of nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators to Sri Lanka, comprising 82% of total imports. The second position in the ranking was held by Norway ($X), with a 5.6% share of total imports. It was followed by Japan, with a 4% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+142.9% per year) and Japan (+35.7% per year).

Import Prices by Country

The average nickel and lithium accumulators import price stood at $X per unit in 2022, dropping by -6.9% against the previous year. Overall, the import price, however, posted a resilient increase. The pace of growth was the most pronounced in 2017 when the average import price increased by 45% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then fell in the following year.

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 China ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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