Sri Lanka: Safety Seat Belt Market 2025

Safety Seat Belt Market Size in Sri Lanka

The Sri Lankan safety seat belt market surged to $X in 2022, rising by 205% against the previous year. In general, consumption enjoyed a notable increase. Safety seat belt consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Safety Seat Belt Production in Sri Lanka

In value terms, safety seat belt production rose rapidly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +5.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when the production volume increased by 26%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Safety Seat Belt Exports

Exports from Sri Lanka

In 2022, the amount of safety seat belts exported from Sri Lanka fell remarkably to X units, with a decrease of -98.8% on the previous year. In general, exports continue to indicate a significant decline. The growth pace was the most rapid in 2014 with an increase of 435%. Over the period under review, the exports reached the maximum at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, safety seat belt exports shrank markedly to $X in 2022. Overall, exports faced a precipitous curtailment. The pace of growth was the most pronounced in 2014 with an increase of 729% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Papua New Guinea (X units) was the main destination for safety seat belt exports from Sri Lanka, with a 53% share of total exports. Moreover, safety seat belt exports to Papua New Guinea exceeded the volume sent to the second major destination, Australia (X units), twofold. The United Arab Emirates (X units) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Papua New Guinea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (0.0% per year) and the United Arab Emirates (+12.2% per year).

In value terms, Australia ($X) emerged as the key foreign market for safety seat belts exports from Sri Lanka, comprising 88% of total exports. The second position in the ranking was taken by Maldives ($X), with a 9.4% share of total exports. It was followed by the United Arab Emirates, with a 1.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+45.1% per year) and the United Arab Emirates (-29.4% per year).

Export Prices by Country

In 2022, the average safety seat belt export price amounted to $X per unit, dropping by -24.8% against the previous year. Overall, the export price continues to indicate a mild slump. The most prominent rate of growth was recorded in 2014 an increase of 55%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Papua New Guinea ($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 India (+1.4%), while the prices for the other major destinations experienced a decline.

Safety Seat Belt Imports

Imports into Sri Lanka

In 2022, after four years of decline, there was significant growth in overseas purchases of safety seat belts, when their volume increased by 1,975% to X units. Overall, imports, however, showed a deep downturn. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, safety seat belt imports surged to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X units) constituted the largest safety seat belt supplier to Sri Lanka, accounting for a 56% share of total imports. Moreover, safety seat belt imports from India exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was held by Japan (X units), with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to +28.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.7% per year) and Japan (+18.5% per year).

In value terms, the largest safety seat belt suppliers to Sri Lanka were Australia ($X), India ($X) and Malaysia ($X), together comprising 68% of total imports.

Malaysia, with a CAGR of +1,947.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average safety seat belt import price stood at $X per unit in 2022, which is down by -41% against the previous year. Over the period under review, the import price, however, saw a strong increase. The growth pace was the most rapid in 2018 when the average import price increased by 111%. Over the period under review, average import prices hit record highs 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 Australia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+17.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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