The Motor Vehicles Shock Absorbers Market in Sri Lanka showed a consistent decline in value per capita from 2013, where it stood at $1.22, to $0.92 in 2023. From 2022 to 2023, the year-on-year reduction was approximately 3.16%. Over the last five years, the compound annual growth rate (CAGR) reflected a downward trend of about 1.1% annually, signifying a significant contraction in the market size per capita.
Future trends to watch for include:
- Potential market stabilization or recovery influenced by economic growth and increased automotive sales.
- Effect of emerging technologies and improved vehicle maintenance practices on shock absorber demand.
- Impact of regulatory changes in automotive standards and environmental considerations.
| # | 42 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 52.47 | 2023 | View data | ||
| 2 | 2 Belgium | 47.1 | 2023 | View data | ||
| 3 | 3 Spain | 40.62 | 2023 | View data | ||
| 4 | 4 France | 37.44 | 2023 | View data | ||
| 5 | 5 Japan | 36.07 | 2023 | View data | ||
| 38 | 38 Tunisia | 2.1 | 2023 | View data | ||
| 39 | 39 Egypt | 1.09 | 2023 | View data | ||
| 40 | 40 Sri Lanka | 0.92 | 2023 | |||
| 41 | 41 Ghana | 0.66 | 2023 | View data | ||
| 42 | 42 Madagascar | 0.12 | 2023 | View data | ||
