In 2021, the Sri Lankan market for pulley tackle and hoists powered by an electric motor decreased by -X% to $X, falling for the third consecutive year after two years of growth. In general, consumption saw a relatively flat trend pattern. Consumption of peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Exports of Pulley Tackle And Hoists Powered By An Electric Motor
In 2021, the overseas shipment of motor-driven pulley blocks and cranes increased by X% to X units, rising for the fourth year in a row after five consecutive years of decline. In general, exports showed strong growth. The growth rate in 2018 was the most significant, increasing by X%. During the reporting period, China’s exports peaked in 2021 and may grow steadily in the short term.

In terms of value, in 2021, the export of motor-driven pulley blocks and cranes soared to $X. On the whole, exports increased significantly. Therefore, the export reached its peak and may continue to grow in the short term.

Maldives (X units) and South Korea (X units) are the main export destinations of Sri Lanka’s electric pulley blocks and cranes.

From 2012 to 2021, the biggest growth is that Maldives (calculated by the compound annual growth rate+X value, South Korea (US $X)) has become a key foreign market for pulley blocks and cranes driven by Sri Lanka’s motor exports, accounting for X% of the total exports. The second place is Maldives (US $X), accounting for X% of total exports.

From 2012 to 2021, the average annual growth rate of South Korea’s value is+X%.

Imports of Pulley Tackle And Hoists Powered By An Electric Motor
In 2021, the overseas procurement of motor-driven pulley blocks and cranes decreased by – X% to X sets, which was the third consecutive year of decline after two years of growth. In general, imports have shrunk significantly. The growth rate in 2014 was the most obvious, with an increase of X% compared with the previous year. In 2018, the import volume reached the peak of X sets; However, from 2019 to 2021, imports failed to recover momentum.

In terms of value, in 2021, the import of motor-driven pulley blocks and cranes dropped sharply to $X. However, during the reporting period, imports showed a relatively stable trend. The growth rate in 2014 was the most significant, with an increase of X% compared with the previous year. In 2015, the import volume reached the peak of US $X; However, from 2016 to 2021, imports failed to recover momentum.

In 2021, China (X sets) became the largest pulley block and crane in Sri Lanka, powered by motor suppliers, accounting for X% of the total imports. In addition, the number of motor driven pulley blocks and cranes imported from China exceeded the record of Taiwan (China) (X sets), the second largest supplier. The third place is Italy (X units), with a share of X%.

From 2012 to 2021, the average annual growth rate of China’s exports is – X%. The average annual growth rate of imports of the remaining supplier countries is as follows: Taiwan (China) (+X% per year) and Italy (- X% per year). In terms of value, the largest pulley blocks and cranes powered by Sri Lankan motor suppliers are China (US $X), Taiwan (China) (US $X “) and Japan (US $X”), accounting for X% of the total imports.

The compound annual growth rate of Taiwan (China) was+X%. During the review period, the growth rate of import value of major suppliers was the highest, while that of other leaders was moderate.

Statistics of various crane suppliers in Sri Lanka
In value terms, the largest pulley tackle and hoists powered by an electric motor suppliers to Sri Lanka were China, Taiwan Chinese) and Japan, together accounting for 73% of total imports.

In value terms, South Korea emerged as the key foreign market for pulley tackle and hoists powered by an electric motor exports from Sri Lanka, comprising 100% of total exports. The second position in the ranking was taken by Maldives, with a 0.2% share of total exports.

The average export price for pulley tackle and hoists powered by an electric motor stood at $36,432 per unit in 2021, rising by 4,753% against the previous year.

In 2021, the average import price for pulley tackle and hoists powered by an electric motor amounted to $706 per unit, increasing by 25% against the previous year.

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Sri Lanka: Market analysis of motor driven pulley block and hoist in 2022