Sri Lanka: Market for Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps 2024

Market Size for Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps in Sri Lanka

In 2022, the Sri Lankan market for hydraulic pumps (gear or vane) and other rotary positive displacement pumps increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption saw notable growth. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Exports of Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps

Exports from Sri Lanka

In 2022, exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps from Sri Lanka skyrocketed to X units, with an increase of X% compared with the previous year. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps surged to $X in 2022. Over the period under review, exports continue to indicate a pronounced increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

The United Arab Emirates (X units) was the main destination for exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps from Sri Lanka, with a X% share of total exports. Moreover, exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps to the United Arab Emirates exceeded the volume sent to the second major destination, Japan (X units), more than tenfold. The third position in this ranking was taken by South Korea (X units), with a X% share.

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

In value terms, the largest markets for hydraulic pump (gear or vane) and other rotary positive displacement pump exported from Sri Lanka were the United Arab Emirates ($X), South Korea ($X) and Japan ($X), with a combined X% share of total exports.

South Korea, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average export price for hydraulic pumps (gear or vane) and other rotary positive displacement pumps amounted to $X per unit, falling by X% against the previous year. Overall, the export price, however, enjoyed a measured increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit, and then fell sharply in the following year.

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

Imports of Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps

Imports into Sri Lanka

In 2022, supplies from abroad of hydraulic pumps (gear or vane) and other rotary positive displacement pumps increased by X% to X units, rising for the second year in a row after two years of decline. Overall, imports showed a perceptible expansion. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps reached $X in 2022. Over the period under review, imports saw a moderate expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest hydraulic pump (gear or vane) and other rotary positive displacement pump supplier to Sri Lanka, with a X% share of total imports. Moreover, imports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps from China exceeded the figures recorded by the second-largest supplier, India (X units), eightfold. Japan (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Japan (X% per year).

In value terms, the United States ($X), China ($X) and India ($X) were the largest hydraulic pump (gear or vane) and other rotary positive displacement pump suppliers to Sri Lanka, together comprising X% of total imports.

The United States, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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 hydraulic pumps (gear or vane) and other rotary positive displacement pumps stood at $X per unit in 2022, shrinking by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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 Singapore ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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