Sri Lanka: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Sri Lanka

The Sri Lankan market for turbo, rotary and reciporating displacement compressors shrank significantly to $X in 2022, dropping by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a noticeable downturn. As a result, consumption attained the peak level of $X, and then declined sharply in the following year.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from Sri Lanka

In 2022, approx. X units of turbo, rotary and reciporating displacement compressors were exported from Sri Lanka; growing by X% on the year before. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports of reached the maximum at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of turbo, rotary and reciporating displacement compressors surged to $X in 2022. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Iran (X units) was the main destination for exports of turbo, rotary and reciporating displacement compressors from Sri Lanka, with a X% share of total exports. Moreover, exports of turbo, rotary and reciporating displacement compressors to Iran exceeded the volume sent to the second major destination, Maldives (X units), threefold. The third position in this ranking was held by South Korea (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iran stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (X% per year) and South Korea (X% per year).

In value terms, Iran ($X) emerged as the key foreign market for turbo, rotary and reciporating displacement compressors exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iran amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and India (X% per year).

Export Prices by Country

In 2022, the average export price for turbo, rotary and reciporating displacement compressors amounted to $X per unit, picking up by X% against the previous year. Overall, the export price enjoyed a temperate increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a lower figure.

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

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Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into Sri Lanka

In 2022, imports of turbo, rotary and reciporating displacement compressors into Sri Lanka fell sharply to X units, reducing by X% compared with the previous year. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X units, and then fell notably in the following year.

In value terms, imports of turbo, rotary and reciporating displacement compressors plummeted to $X in 2022. Over the period under review, imports continue to indicate a pronounced setback. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then shrank markedly in the following year.

Imports by Country

China (X units), India (X units) and Italy (X units) were the main suppliers of imports of turbo, rotary and reciporating displacement compressors to Sri Lanka, together comprising X% of total imports. The UK, Japan, France, Spain, Singapore, Germany, the United States and Jordan lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and Italy ($X) appeared to be the largest turbo, rotary and reciporating displacement compressor suppliers to Sri Lanka, together comprising X% of total imports. India, Japan, the United States, the UK, Singapore, France, Spain and Jordan lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Spain, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, growing by X% against the previous year. In general, the import price, however, recorded a perceptible slump. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average import prices failed to regain momentum.

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 Germany ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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