Sri Lanka: Market for Motorcycles and Cycles With an Auxiliary Motor 2024

Market Size for Motorcycles and Cycles With an Auxiliary Motor in Sri Lanka

The Sri Lankan market for motorcycles and cycles with an auxiliary motor expanded modestly to $X in 2023, with an increase of X% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Production of Motorcycles and Cycles With an Auxiliary Motor in Sri Lanka

In value terms, production of motorcycles and cycles with an auxiliary motor rose rapidly to $X in 2023 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, production of attained the peak level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Exports of Motorcycles and Cycles With an Auxiliary Motor

Exports from Sri Lanka

In 2023, exports of motorcycles and cycles with an auxiliary motor from Sri Lanka dropped dramatically to X units, which is down by X% against 2022 figures. Over the period under review, exports saw a noticeable curtailment. The most prominent rate of growth was recorded in 2016 with an increase of X%. The exports peaked at X units in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, exports of motorcycles and cycles with an auxiliary motor declined significantly to $X in 2023. Overall, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X units) was the main destination for exports of motorcycles and cycles with an auxiliary motor from Sri Lanka, with a X% share of total exports. Moreover, exports of motorcycles and cycles with an auxiliary motor to Japan exceeded the volume sent to the second major destination, Maldives (X units), ninefold.

From 2012 to 2023, the average annual rate of growth in terms of volume to Japan amounted to X%.

In value terms, Japan ($X) remains the key foreign market for motorcycles and cycles with an auxiliary motor exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Maldives ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value to Japan stood at X%.

Export Prices by Country

The average export price for motorcycles and cycles with an auxiliary motor stood at $X per unit in 2023, picking up by X% against the previous year. In general, the export price, however, showed a noticeable descent. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Maldives totaled $X per unit.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (X%), while the prices for the other major destinations experienced a decline.

Imports of Motorcycles and Cycles With an Auxiliary Motor

Imports into Sri Lanka

In 2023, imports of motorcycles and cycles with an auxiliary motor into Sri Lanka shrank notably to X units, dropping by X% against the previous year's figure. Overall, imports, however, continue to indicate a measured expansion. The pace of growth was the most pronounced in 2022 when imports increased by X%. Over the period under review, imports of hit record highs at X units in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

In value terms, imports of motorcycles and cycles with an auxiliary motor declined sharply to $X in 2023. Over the period under review, imports, however, enjoyed a mild expansion. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. Over the period under review, imports of attained the maximum at $X in 2020; however, from 2021 to 2023, imports failed to regain momentum.

Imports by Country

Japan (X units), China (X units) and South Korea (X units) were the main suppliers of imports of motorcycles and cycles with an auxiliary motor to Sri Lanka, with a combined X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of motorcycles and cycles with an auxiliary motor to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by China ($X), with an X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Japan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2023, the average import price for motorcycles and cycles with an auxiliary motor amounted to $X per unit, leveling off at the previous year. Overall, the import price showed a pronounced contraction. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 to 2023, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform