Sri Lanka: Market for Pneumatic Or Hydraulic Hand Tools 2024

Market Size for Pneumatic Or Hydraulic Hand Tools in Sri Lanka

After two years of growth, the Sri Lankan market for pneumatic or hydraulic hand tools decreased by -5.6% to $X in 2021. The market value increased at an average annual rate of +4.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2020, and then contracted in the following year.

Production of Pneumatic Or Hydraulic Hand Tools in Sri Lanka

In value terms, pneumatic or hydraulic hand tool production shrank to $X in 2021 estimated in export price. Over the period under review, the total production indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +26.6% against 2018 indices. The pace of growth appeared the most rapid in 2014 with an increase of 59% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Exports of Pneumatic Or Hydraulic Hand Tools

Exports from Sri Lanka

In 2021, the amount of pneumatic or hydraulic hand tools exported from Sri Lanka declined notably to X kg, waning by -92.9% on the previous year. Overall, exports showed a abrupt curtailment. The growth pace was the most rapid in 2018 with an increase of 340%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, pneumatic or hydraulic hand tool exports declined sharply to $X in 2021. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 187% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Seychelles (X kg), India (X kg) and the United Arab Emirates (X kg) were the main destinations of pneumatic or hydraulic hand tool exports from Sri Lanka, together comprising 65% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +23.6%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), South Africa ($X) and the United Arab Emirates ($X) were the largest markets for pneumatic or hydraulic hand tool exported from Sri Lanka worldwide, with a combined 76% share of total exports.

South Africa, with a CAGR of +143.0%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for pneumatic or hydraulic hand tools amounted to $X per ton, increasing by 552% against the previous year. Over the period under review, the export price saw a buoyant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+1,367.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pneumatic Or Hydraulic Hand Tools

Imports into Sri Lanka

In 2021, supplies from abroad of pneumatic or hydraulic hand tools increased by 31% to X tons, rising for the second consecutive year after three years of decline. Overall, imports recorded a mild increase. The most prominent rate of growth was recorded in 2015 with an increase of 61%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, pneumatic or hydraulic hand tool imports skyrocketed to $X in 2021. Over the period under review, imports posted a mild increase. The pace of growth appeared the most rapid in 2015 when imports increased by 62% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of pneumatic or hydraulic hand tool to Sri Lanka, with a 79% share of total imports. Moreover, pneumatic or hydraulic hand tool imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. The third position in this ranking was held by India (X tons), with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-8.0% per year) and India (+7.3% per year).

In value terms, China ($X) constituted the largest supplier of pneumatic or hydraulic hand tools to Sri Lanka, comprising 77% of total imports. The second position in the ranking was taken by Japan ($X), with a 6.7% share of total imports. It was followed by India, with a 2.6% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-8.0% per year) and India (+8.7% per year).

Import Prices by Country

The average import price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, increasing by 6.5% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 53% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Singapore ($X per ton) and India ($X per ton), while the price for Sweden ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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