Sri Lanka: Market for Tyres For Motorcycles or Bicycles 2024

Market Size for Tyres For Motorcycles or Bicycles in Sri Lanka

The Sri Lankan motorcycle or bicycle tyre market shrank to $X in 2022, which is down by X% against the previous year. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Production of Tyres For Motorcycles or Bicycles in Sri Lanka

In value terms, motorcycle or bicycle tyre production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Exports of Tyres For Motorcycles or Bicycles

Exports from Sri Lanka

In 2022, exports of tyres for motorcycles or bicycles from Sri Lanka reached X units, with an increase of X% on 2021 figures. Over the period under review, total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, motorcycle or bicycle tyre exports skyrocketed to $X in 2022. In general, total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Tanzania (X units), Brazil (X units) and Italy (X units) were the main destinations of motorcycle or bicycle tyre exports from Sri Lanka, together accounting for X% of total exports. The Netherlands, Germany, Bangladesh, Egypt, the United Arab Emirates, India, Guinea and Sweden lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for motorcycle or bicycle tyre exported from Sri Lanka were Tanzania ($X), Brazil ($X) and the Netherlands ($X), with a combined X% share of total exports. Italy, the United Arab Emirates, Germany, Bangladesh, Egypt, Sweden, India and Guinea lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Sweden, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average motorcycle or bicycle tyre export price stood at $X per unit in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Italy ($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 Sweden (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Motorcycles or Bicycles

Imports into Sri Lanka

In 2022, the amount of tyres for motorcycles or bicycles imported into Sri Lanka contracted sharply to X units, dropping by X% compared with 2021 figures. In general, imports showed a abrupt slump. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, motorcycle or bicycle tyre imports shrank significantly to $X in 2022. Over the period under review, imports continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

China (X units) and India (X units) were the main suppliers of motorcycle or bicycle tyre imports to Sri Lanka.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of X%).

In value terms, China ($X) and India ($X) constituted the largest motorcycle or bicycle tyre suppliers to Sri Lanka.

In terms of the main suppliers, China, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The average motorcycle or bicycle tyre import price stood at $X per unit in 2022, dropping by X% against the previous year. In general, the import price, however, posted a resilient increase. The pace of growth appeared the most rapid in 2018 when the average import price increased by X%. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per unit), while the price for China amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Source: IndexBox Platform

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