Report Update Nov 1, 2024

Sri Lanka - Tractors - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Sri Lanka: Tractor Market 2024

Tractor Market Size in Sri Lanka

In 2022, after two years of growth, there was significant decline in the Sri Lankan tractor market, when its value decreased by -73.9% to $X. In general, consumption showed a abrupt setback. Tractor consumption peaked at $X in 2021, and then declined notably in the following year.

Tractor Production in Sri Lanka

In value terms, tractor production declined slightly to $X in 2022 estimated in export price. Overall, production saw a pronounced setback. The pace of growth appeared the most rapid in 2015 when the production volume increased by 61% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Tractor Exports

Exports from Sri Lanka

After three years of growth, shipments abroad of tractors decreased by -31% to X units in 2022. In general, exports saw a drastic downturn. The pace of growth was the most pronounced in 2017 when exports increased by 203% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, tractor exports contracted rapidly to $X in 2022. Overall, exports saw a perceptible slump. The most prominent rate of growth was recorded in 2019 with an increase of 546% against the previous year. The exports peaked at $X in 2021, and then contracted notably in the following year.

Exports by Country

India (X units) was the main destination for tractor exports from Sri Lanka, with a 40% share of total exports. Moreover, tractor exports to India exceeded the volume sent to the second major destination, Maldives (X units), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to India totaled +10.3%.

In value terms, India ($X) remains the key foreign market for tractors exports from Sri Lanka, comprising 48% of total exports. The second position in the ranking was taken by Maldives ($X), with a 2.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to India totaled +12.1%.

Export Prices by Country

The average tractor export price stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Overall, the export price, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 166%. The export price peaked at $X per unit in 2021, and then reduced in the following year.

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 India ($X per unit), while the average price for exports to Maldives totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+1.6%), while the prices for the other major destinations experienced a decline.

Tractor Imports

Imports into Sri Lanka

After two years of growth, supplies from abroad of tractors decreased by -69.2% to X units in 2022. Overall, imports saw a deep contraction. The most prominent rate of growth was recorded in 2015 with an increase of 162%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, tractor imports shrank remarkably to $X in 2022. Over the period under review, imports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2021 when imports increased by 122%. As a result, imports attained the peak of $X, and then fell notably in the following year.

Imports by Country

In 2022, India (X units) constituted the largest tractor supplier to Sri Lanka, with a 30% share of total imports. Moreover, tractor imports from India exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. The third position in this ranking was held by Vietnam (X units), with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India totaled -10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-5.2% per year) and Vietnam (-10.4% per year).

In value terms, India ($X) constituted the largest supplier of tractors to Sri Lanka, comprising 31% of total imports. The second position in the ranking was held by Japan ($X), with a 13% share of total imports. It was followed by Vietnam, with a 1.8% share.

From 2012 to 2022, the average annual growth rate of value from India amounted to -9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.4% per year) and Vietnam (-11.9% per year).

Import Prices by Country

In 2022, the average tractor import price amounted to $X per unit, with a decrease of -20.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2014 an increase of 31%. The import price peaked at $X per unit in 2021, and then declined significantly in the following year.

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 Japan ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+6.9%), 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 tractors in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, with a combined 37% share of global consumption.

What are the largest producers of tractors in the world?

China remains the largest tractor producing country worldwide, accounting for 18% of total volume. Moreover, tractor production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. The third position in this ranking was occupied by India, with a 7.4% share.

What are the leading suppliers of tractors to Sri Lanka?

In value terms, India constituted the largest supplier of tractor to Sri Lanka, comprising 87% of total imports. The second position in the ranking was occupied by Japan, with a 14% share of total imports. It was followed by Vietnam, with a 4.4% share.

What are the leading importers of tractors from Sri Lanka?

In value terms, India remains the key foreign market for tractor exports from Sri Lanka, comprising 84% of total exports. The second position in the ranking was occupied by Maldives, with an 8.2% share of total exports.

What is the average export price for tractors in Sri Lanka?

In 2021, the average tractor export price amounted to $18,317 per unit, declining by -7.6% against the previous year.

What is the average import price for tractors in Sri Lanka?

In 2021, the average tractor import price amounted to $9,109 per unit, shrinking by -6.9% against the previous year.

This report provides an in-depth analysis of the tractor 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 28301000 - Pedestrian-controlled tractors
Prodcom 28302100 - New agricultural and forestry tractors, wheeled, of an engine power . .37 kW
Prodcom 28302200 - New agricultural and forestry tractors, wheeled, of an engine power > .37 kW but . .59 kW (excluding pedestrian-controlled tractors)
Prodcom 28302330 - New agricultural and forestry tractors, wheeled, of an engine power > .59 kW but . .75 kW (excluding pedestrian-controlled tractors)
Prodcom 28302350 - New agricultural and forestry tractors, wheeled, of an engine power > .75 kW but . .90 kW (excluding pedestrian-controlled tractors)
Prodcom 28302370 - New agricultural and forestry tractors, wheeled, of an engine power > .90 kW (excluding pedestrian-controlled tractors)
Prodcom 28302390 - New tractors excluding agricultural/forestry tractors, wheeled, p edestrian-controlled tractors - road tractors for semi-trailers, t rack-laying tractors -tractors used on railway platforms
Prodcom 28925000 - (Crawler tractors) Track-laying tractors
Prodcom 29104300 - Road tractors for semi-trailers

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