Sri Lanka: Market for Motorcycles, Scooters and Side-Cars 2024

Market Size for Motorcycles, Scooters and Side-Cars in Sri Lanka

For the fifth consecutive year, the Sri Lankan motorcycle, scooter and side-car market recorded decline in sales value, which decreased by X% to $X in 2022. Overall, consumption saw a drastic downturn. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Motorcycles, Scooters and Side-Cars in Sri Lanka

In value terms, motorcycle, scooter and side-car production rose notably to $X in 2022 estimated in export price. In general, production recorded a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Motorcycles, Scooters and Side-Cars

Exports from Sri Lanka

In 2022, approx. X units of motorcycles, scooters and side-cars were exported from Sri Lanka; with an increase of X% against the previous year's figure. Overall, exports recorded a significant expansion. The growth pace was the most rapid in 2019 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, motorcycle, scooter and side-car exports soared to $X in 2022. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Italy (X units) was the main destination for motorcycle, scooter and side-car exports from Sri Lanka, with a X% share of total exports. Moreover, motorcycle, scooter and side-car exports to Italy exceeded the volume sent to the second major destination, Germany (X units), eightfold. The third position in this ranking was held by the UK (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Italy totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and the UK (X% per year).

In value terms, Italy ($X) emerged as the key foreign market for motorcycles, scooters and side-cars exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Italy stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and the UK (X% per year).

Export Prices by Country

In 2022, the average motorcycle, scooter and side-car export price amounted to $X per unit, picking up by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2015; however, from 2016 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 Belgium ($X per unit), while the average price for exports to Poland ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Motorcycles, Scooters and Side-Cars

Imports into Sri Lanka

In 2022, motorcycle, scooter and side-car imports into Sri Lanka fell significantly to X units, shrinking by X% on the previous year's figure. Over the period under review, imports recorded a sharp slump. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, motorcycle, scooter and side-car imports dropped significantly to $X in 2022. In general, imports saw a sharp decrease. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest motorcycle, scooter and side-car supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, motorcycle, scooter and side-car imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fourfold.

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

In value terms, Japan ($X), China ($X) and India ($X) constituted the largest motorcycle, scooter and side-car suppliers to Sri Lanka, together accounting for X% of total imports.

In terms of the main suppliers, Japan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average motorcycle, scooter and side-car import price amounted to $X per unit, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. The import price peaked in 2022 and is likely to continue growth in years to come.

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

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

Source: IndexBox Platform

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