Report Update Jan 1, 2025

Sri Lanka - Suspension Systems - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Suspension System Market 2025

Suspension System Market Size in Sri Lanka

In 2022, after two years of growth, there was significant decline in the Sri Lankan suspension system market, when its value decreased by -54.6% to $X. In general, consumption saw a abrupt shrinkage. As a result, consumption reached the peak level of $X, and then reduced markedly in the following year.

Suspension System Exports

Exports from Sri Lanka

Suspension system exports from Sri Lanka declined significantly to X tons in 2022, reducing by -23.2% on the year before. Over the period under review, exports, however, continue to indicate a pronounced expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 1,415% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then fell markedly in the following year.

In value terms, suspension system exports shrank significantly to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 1,588% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Maldives (X tons) was the main destination for suspension system exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Maldives stood at +38.7%.

In value terms, Maldives ($X) emerged as the key foreign market for suspension systems exports from Sri Lanka.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives amounted to +37.2%.

Export Prices by Country

The average suspension system export price stood at $X per ton in 2022, declining by -48.9% against the previous year. Over the period under review, the export price continues to indicate a pronounced slump. The pace of growth was the most pronounced in 2017 when the average export price increased by 95%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Maldives.

From 2012 to 2022, the rate of growth in terms of prices for Mali amounted to +79.7% per year.

Suspension System Imports

Imports into Sri Lanka

After two years of growth, overseas purchases of suspension systems decreased by -42.4% to X tons in 2022. Over the period under review, imports continue to indicate a perceptible descent. The pace of growth appeared the most rapid in 2015 with an increase of 41% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then dropped remarkably in the following year.

In value terms, suspension system imports dropped markedly to $X in 2022. Overall, imports recorded a abrupt contraction. The pace of growth was the most pronounced in 2021 with an increase of 44% against the previous year. As a result, imports reached the peak of $X, and then fell sharply in the following year.

Imports by Country

India (X tons), Japan (X tons) and China (X tons) were the main suppliers of suspension system imports to Sri Lanka, together accounting for 88% of total imports. Thailand and Indonesia lagged somewhat behind, together comprising a further 7.6%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +76.6%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X), India ($X) and Indonesia ($X) constituted the largest suspension system suppliers to Sri Lanka, together comprising 75% of total imports.

In terms of the main suppliers, Indonesia, with a CAGR of +85.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average suspension system import price amounted to $X per ton, waning by -27.9% against the previous year. Over the period under review, the import price continues to indicate a noticeable slump. The growth pace was the most rapid in 2016 an increase of 37% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

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 Indonesia ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for suspension systems in the world?

China remains the largest suspension system consuming country worldwide, accounting for 23% of total volume. Moreover, suspension system consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by India, with an 8.6% share.

What are the largest producers of suspension systems in the world?

China remains the largest suspension system producing country worldwide, comprising approx. 35% of total volume. Moreover, suspension system production in China exceeded the figures recorded by the second-largest producer, India, fourfold. Japan ranked third in terms of total production with a 6.7% share.

What are the leading suppliers of suspension systems to Sri Lanka?

In value terms, India constituted the largest supplier of suspension system to Sri Lanka, comprising 77% of total imports. The second position in the ranking was occupied by Japan, with a 19% share of total imports.

What is the average export price for suspension systems in Sri Lanka?

The average suspension system export price stood at $7,938 per ton in 2021, rising by 14% against the previous year.

What is the average import price for suspension systems in Sri Lanka?

In 2021, the average suspension system import price amounted to $5,499 per ton, leveling off at the previous year.

This report provides an in-depth analysis of the suspension system 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 29323050 - Suspension systems and parts thereof (including shock absorbers)

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 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
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 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
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, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024