Sri Lanka: Starter Motor Market 2024

Starter Motor Market Size in Sri Lanka

The Sri Lankan starter motor market soared to $X in 2021, rising by 32% 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). Overall, consumption continues to indicate a relatively flat trend pattern. Starter motor consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Starter Motor Exports

Exports from Sri Lanka

In 2021, approx. X units of starter motors and dual purpose starter generators were exported from Sri Lanka; shrinking by -67.8% compared with 2020 figures. Overall, exports recorded a dramatic shrinkage. The growth pace was the most rapid in 2014 when exports increased by 1,530% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, starter motor exports declined sharply to $X in 2021. In general, exports showed a sharp reduction. The most prominent rate of growth was recorded in 2014 when exports increased by 662%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X units), the United Arab Emirates (X units) and Pakistan (X units) were the main destinations of starter motor exports from Sri Lanka, together accounting for 96% of total exports. These countries were followed by Seychelles, which accounted for a further 2.1%. Moreover, starter motor exports in Germany exceeded the figures recorded by the second-largest exporter, the United Arab Emirates, twofold.

From 2012 to 2021, the biggest increases were recorded for Seychelles (with a CAGR of -16.4%), while shipments for the other leaders experienced a decline.

In value terms, Germany ($X) remains the key foreign market for starter motors and dual purpose starter generators exports from Sri Lanka, comprising 71% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 19% share of total exports. It was followed by Pakistan, with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to -20.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-15.4% per year) and Pakistan (-25.0% per year).

Export Prices by Country

In 2021, the average starter motor export price amounted to $X per unit, surging by 8.7% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 99% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Germany ($X per unit), while the average price for exports to Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Starter Motor Imports

Imports into Sri Lanka

Starter motor imports into Sri Lanka skyrocketed to X units in 2021, with an increase of 73% against 2020. Overall, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 115% against the previous year. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, starter motor imports reached $X in 2021. In general, imports, however, saw a perceptible decrease. The pace of growth was the most pronounced in 2014 with an increase of 87%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

India (X units), China (X units) and Japan (X units) were the main suppliers of starter motor imports to Sri Lanka, together comprising 95% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +19.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of starter motors and dual purpose starter generators to Sri Lanka, comprising 49% of total imports. The second position in the ranking was taken by China ($X), with a 19% share of total imports. It was followed by Japan, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India totaled +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.6% per year) and Japan (+9.3% per year).

Import Prices by Country

In 2021, the average starter motor import price amounted to $X per unit, waning by -42.2% against the previous year. In general, the import price recorded a abrupt decrease. The pace of growth was the most pronounced in 2016 an increase of 40%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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