Sri Lanka: Electromagnetic Lifting Head Market 2024

Electromagnetic Lifting Head Market Size in Sri Lanka

The Sri Lankan electromagnetic lifting head market contracted slightly to $X in 2022, waning by X% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Electromagnetic Lifting Head Production in Sri Lanka

In value terms, electromagnetic lifting head production fell to $X in 2022 estimated in export price. Over the period under review, production, however, showed modest growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

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Electromagnetic Lifting Head Exports

Exports from Sri Lanka

In 2022, shipments abroad of electromagnets and electromagnetic lifting heads decreased by X% to X kg, falling for the third consecutive year after two years of growth. Overall, exports showed a dramatic decrease. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, electromagnetic lifting head exports fell significantly to $X in 2022. Over the period under review, exports continue to indicate a sharp setback. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Italy (X kg), the United States (X kg) and the United Arab Emirates (X kg) were the main destinations of electromagnetic lifting head exports from Sri Lanka, together comprising X% of total exports. Seychelles and Jordan lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for electromagnetic lifting head exported from Sri Lanka were the United States ($X), Jordan ($X) and the United Arab Emirates ($X), together accounting for X% of total exports. Italy and Seychelles lagged somewhat behind, together accounting for a further X%.

Seychelles, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electromagnetic lifting head export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Jordan ($X per ton), while the average price for exports to Italy ($X per ton) 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.

Electromagnetic Lifting Head Imports

Imports into Sri Lanka

After three years of growth, purchases abroad of electromagnets and electromagnetic lifting heads decreased by X% to X tons in 2022. In general, imports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Imports peaked at X tons in 2021, and then reduced dramatically in the following year.

In value terms, electromagnetic lifting head imports dropped remarkably to $X in 2022. Over the period under review, imports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), India (X tons) and Germany (X kg) were the main suppliers of electromagnetic lifting head imports to Sri Lanka, together accounting for X% of total imports.

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

In value terms, the largest electromagnetic lifting head suppliers to Sri Lanka were India ($X), China ($X) and Germany ($X), with a combined X% share of total imports.

Among the main suppliers, India, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average electromagnetic lifting head import price amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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