Sri Lanka: Vapour Power Unit Market 2023

Vapour Power Unit Market Size in Sri Lanka

After two years of growth, the Sri Lankan vapour power unit market decreased by -33.4% to $X in 2021. Overall, consumption continues to indicate a deep reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Vapour Power Unit Exports

Exports from Sri Lanka

In 2021, shipments abroad of condensers for steam or other vapour power units was finally on the rise to reach X kg for the first time since 2016, thus ending a four-year declining trend. Overall, exports, however, saw a significant decrease. Over the period under review, the exports hit record highs at X kg in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, vapour power unit exports contracted to $X in 2021. In general, exports, however, saw a sharp decrease. The pace of growth was the most pronounced in 2016 when exports increased by 39%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Seychelles (X kg) and Maldives (X kg) were the main destinations of vapour power unit exports from Sri Lanka.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Seychelles (with a CAGR of -19.7%).

From 2012 to 2021, the average annual growth rate of value to Seychelles stood at -26.1%.

Export Prices by Country

The average vapour power unit export price stood at $X per ton in 2021, which is down by -62.9% against the previous year. Overall, the export price showed a abrupt curtailment. The growth pace was the most rapid in 2020 when the average export price increased by 119%. As a result, the export price reached the peak level of $X per ton, and then reduced dramatically in the following year.

Average prices varied somewhat for the major overseas markets. In 2021, the country with the highest price was Seychelles ($X per ton), while the average price for exports to Maldives totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+695.4%), while the prices for the other major destinations experienced a decline.

Vapour Power Unit Imports

Imports into Sri Lanka

In 2021, purchases abroad of condensers for steam or other vapour power units decreased by -30.4% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports faced a abrupt descent. The growth pace was the most rapid in 2020 with an increase of 335% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, vapour power unit imports declined notably to $X in 2021. Overall, imports saw a pronounced contraction. The growth pace was the most rapid in 2020 when imports increased by 438% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), India (X tons) and Japan (X kg) were the main suppliers of vapour power unit imports to Sri Lanka, together comprising 95% of total imports.

From 2012 to 2021, the biggest increases were in Japan (with a CAGR of +30.8%), while purchases for the other leaders experienced a decline.

In value terms, India ($X) constituted the largest supplier of vapour power unit to Sri Lanka, comprising 63% of total imports. The second position in the ranking was held by Japan ($X), with a 14% share of total imports. It was followed by China, with a 9.9% share.

From 2012 to 2021, the average annual growth rate of value from India stood at -1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+52.3% per year) and China (-15.4% per year).

Import Prices by Country

The average vapour power unit import price stood at $X per ton in 2021, which is down by -16.6% against the previous year. Overall, the import price, however, posted a resilient increase. The growth pace was the most rapid in 2013 when the average import price increased by 358%. Over the period under review, average import prices attained the maximum at $X per ton in 2020, and then reduced notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+18.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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