Sri Lanka: Test Bench Market 2024

Test Bench Market Size in Sri Lanka

The Sri Lankan test bench market expanded to $X.5B in 2022, growing by X% against the previous year. In general, consumption saw a strong increase. Over the period under review, the market hit record highs at $X.2B in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Test Bench Production in Sri Lanka

In value terms, test bench production expanded to $X.6B in 2022 estimated in export price. Over the period under review, production continues to indicate strong growth. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. Test bench production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Test Bench Exports

Exports from Sri Lanka

In 2022, shipments abroad of test benches decreased by X% to X units, falling for the second consecutive year after nine years of growth. In general, exports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, test bench exports contracted sharply to $X in 2022. Over the period under review, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2016 when exports increased by X%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for test bench exports from Sri Lanka, accounting for a X% share of total exports. Moreover, test bench exports to China exceeded the volume sent to the second major destination, Switzerland (X units), threefold. The third position in this ranking was taken by the United States (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (X% per year) and the United States (X% per year).

In value terms, the largest markets for test bench exported from Sri Lanka were China ($X), Switzerland ($X) and the United States ($X), with a combined X% share of total exports. These countries were followed by India, which accounted for a further X%.

India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 test bench export price amounted to $X per unit, dropping by X% against the previous year. In general, the export price, however, posted a strong expansion. The growth pace was the most rapid in 2016 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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

Test Bench Imports

Imports into Sri Lanka

In 2022, approx. X units of test benches were imported into Sri Lanka; waning by X% compared with 2021. In general, imports, however, posted resilient growth. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of X units, and then dropped significantly in the following year.

In value terms, test bench imports shrank sharply to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Japan (X units) and Germany (X units) were the main suppliers of test bench imports to Sri Lanka, with a combined X% share of total imports.

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

In value terms, the largest test bench suppliers to Sri Lanka were Germany ($X), Malaysia ($X) and Japan ($X), with a combined X% share of total imports. Poland, Switzerland, China, Hong Kong SAR and Hungary lagged somewhat behind, together comprising a further X%.

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

In 2022, the average test bench import price amounted to $X per unit, reducing by X% against the previous year. Overall, the import price showed a abrupt setback. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the average import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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