Report Update Nov 1, 2024

Sri Lanka - Seats for Motor Vehicles - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Vehicle Seat Market 2024

Vehicle Seat Market Size in Sri Lanka

The Sri Lankan vehicle seat market contracted rapidly to $X in 2022, reducing by -82.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption faced a drastic downturn. As a result, consumption reached the peak level of $X, and then reduced notably in the following year.

Vehicle Seat Exports

Exports from Sri Lanka

In 2022, the amount of seats for motor vehicles exported from Sri Lanka dropped remarkably to X units, waning by -52.8% compared with 2021. Overall, exports saw a noticeable decrease. The pace of growth appeared the most rapid in 2013 when exports increased by 858%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, vehicle seat exports dropped significantly to $X in 2022. Over the period under review, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2013 with an increase of 573%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Maldives (X units), Australia (X units) and the UK (X units) were the main destinations of vehicle seat exports from Sri Lanka.

From 2012 to 2022, the biggest increases were recorded for Maldives (with a CAGR of +24.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Maldives ($X) emerged as the key foreign market for seats for motor vehicles exports from Sri Lanka, comprising 86% of total exports. The second position in the ranking was taken by Australia ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives totaled +87.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+53.2% per year) and the UK (+6.6% per year).

Export Prices by Country

The average vehicle seat export price stood at $X per unit in 2022, increasing by 79% against the previous year. Overall, the export price, however, faced a deep setback. The pace of growth appeared the most rapid in 2017 an increase of 162% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Maldives ($X per unit), while the average price for exports to the UK ($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 Maldives (+50.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vehicle Seat Imports

Imports into Sri Lanka

Vehicle seat imports into Sri Lanka contracted sharply to X units in 2022, which is down by -79.4% against the year before. Over the period under review, imports recorded a deep reduction. The growth pace was the most rapid in 2021 with an increase of 384%. As a result, imports attained the peak of X units, and then shrank dramatically in the following year.

In value terms, vehicle seat imports shrank rapidly to $X in 2022. Overall, imports showed a deep setback. The pace of growth appeared the most rapid in 2021 when imports increased by 379% against the previous year. As a result, imports reached the peak of $X, and then fell remarkably in the following year.

Imports by Country

In 2022, India (X units) constituted the largest vehicle seat supplier to Sri Lanka, accounting for a 87% share of total imports. Moreover, vehicle seat imports from India exceeded the figures recorded by the second-largest supplier, Malaysia (X units), more than tenfold. The third position in this ranking was held by Indonesia (X units), with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+58.8% per year) and Indonesia (+57.8% per year).

In value terms, India ($X), Indonesia ($X) and Malaysia ($X) appeared to be the largest vehicle seat suppliers to Sri Lanka, with a combined 84% share of total imports.

Among the main suppliers, Malaysia, with a CAGR of +66.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vehicle seat import price stood at $X per unit in 2022, reducing by -33.3% against the previous year. Overall, the import price continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2019 when the average import price increased by 83% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for seats for motor vehicles in the world?

The country with the largest volume of vehicle seat consumption was China, comprising approx. 19% of total volume. Moreover, vehicle seat consumption in China exceeded the figures recorded by the second-largest consumer, Germany, threefold. The third position in this ranking was occupied by India, with a 7.6% share.

What are the largest producers of seats for motor vehicles in the world?

China constituted the country with the largest volume of vehicle seat production, comprising approx. 20% of total volume. Moreover, vehicle seat production in China exceeded the figures recorded by the second-largest producer, Germany, threefold. India ranked third in terms of total production with a 7.7% share.

What are the leading suppliers of seats for motor vehicles to Sri Lanka?

In value terms, South Korea, Japan and Italy constituted the largest vehicle seat suppliers to Sri Lanka, together accounting for 59% of total imports. These countries were followed by China, Indonesia and India, which together accounted for a further 27%.

What are the leading importers of seats for motor vehicles from Sri Lanka?

In value terms, the United States $723) remains the key foreign market for vehicle seat exports from Sri Lanka, comprising 92% of total exports. The second position in the ranking was occupied by Australia $5), with a 0.6% share of total exports.

What is the average export price for seats for motor vehicles in Sri Lanka?

The average vehicle seat export price stood at $66 per unit in 2021, reducing by -25.3% against the previous year.

What is the average import price for seats for motor vehicles in Sri Lanka?

In 2021, the average vehicle seat import price amounted to $31 per unit, rising by 10% against the previous year.

This report provides an in-depth analysis of the vehicle seat market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 29321000 - Seats for motor vehicles

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023