Sri Lanka: Wind Powered Generator Market 2024

Wind Powered Generator Market Size in Sri Lanka

In 2021, the Sri Lankan wind powered generator market decreased by -21.9% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption recorded a dramatic downturn. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Wind Powered Generator Production in Sri Lanka

In value terms, wind powered generator production dropped slightly to $X in 2021 estimated in export price. Overall, the total production indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +52.7% against 2013 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 27% against the previous year. Wind powered generator production peaked at $X in 2020, and then dropped in the following year.

Wind Powered Generator Exports

Exports from Sri Lanka

In 2021, after two years of growth, there was decline in overseas shipments of wind powered generating sets, when their volume decreased by 0% to X units. In general, exports continue to indicate a sharp shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 100% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, wind powered generator exports soared to $X in 2021. Over the period under review, exports faced a deep contraction. The pace of growth appeared the most rapid in 2020 with an increase of 121% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

India (X units) was the main destination for wind powered generator exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to India stood at -23.8%.

In value terms, India ($X) also remains the key foreign market for wind powered generating sets exports from Sri Lanka.

From 2012 to 2021, the average annual rate of growth in terms of value to India amounted to -16.9%.

Export Prices by Country

In 2021, the average wind powered generator export price amounted to $X per unit, picking up by 55% against the previous year. Over the period under review, the export price showed a prominent expansion. The most prominent rate of growth was recorded in 2017 an increase of 101%. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see gradual growth in years to come.

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

From 2012 to 2021, the rate of growth in terms of prices for Maldives amounted to +498.6% per year.

Wind Powered Generator Imports

Imports into Sri Lanka

In 2021, purchases abroad of wind powered generating sets decreased by -27.1% to X units, falling for the second consecutive year after two years of growth. In general, imports saw a dramatic descent. The pace of growth was the most pronounced in 2013 with an increase of 226%. Over the period under review, imports reached the maximum at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, wind powered generator imports declined rapidly to $X in 2021. Overall, imports continue to indicate a sharp decline. The pace of growth was the most pronounced in 2013 when imports increased by 302%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest wind powered generator supplier to Sri Lanka, with a 71% share of total imports. Moreover, wind powered generator imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +41.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+58.5% per year) and India (-48.3% per year).

In value terms, China ($X) constituted the largest supplier of wind powered generating sets to Sri Lanka, comprising 76% of total imports. The second position in the ranking was taken by India ($X), with a 15% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +81.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-35.6% per year) and Germany (+105.3% per year).

Import Prices by Country

The average wind powered generator import price stood at $X per unit in 2021, growing by 4.5% against the previous year. Overall, the import price continues to indicate a noticeable increase. The pace of growth appeared the most rapid in 2020 an increase of 74%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was India ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+31.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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