Report Update: Apr 1, 2024

Philippines - Compressors For Refrigeration Equipment - Market Analysis, Forecast, Size, Trends And Insights

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Refrigerator Compressor Price in the Philippines - 2023

Refrigerator Compressor Price in the Philippines (CIF) - 2022

In 2022, the average refrigerator compressor import price amounted to $75 per unit, declining by -17% against the previous year. Over the period under review, the import price, however, enjoyed a slight expansion. The pace of growth appeared the most rapid in 2020 an increase of 43%. As a result, import price attained the peak level of $132 per unit. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

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 Thailand ($203 per unit), while the price for China ($58 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Refrigerator Compressor Price in the Philippines (FOB) - 2022

The average refrigerator compressor export price stood at $190 per unit in 2022, picking up by 5.9% against the previous year. In general, the export price, however, faced a dramatic decline. The most prominent rate of growth was recorded in 2020 when the average export price increased by 19% against the previous year. The export price peaked at $3,067 per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($2,800 per unit), while the average price for exports to the United States ($70 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 Indonesia (+19.6%), while the prices for the other major destinations experienced mixed trend patterns.

Refrigerator Compressor Imports in the Philippines

Refrigerator compressor imports into the Philippines expanded rapidly to 750K units in 2022, surging by 15% against 2021 figures. Overall, total imports indicated a modest increase from 2019 to 2022: its volume increased at an average annual rate of +1.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.5% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 49% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, refrigerator compressor imports shrank slightly to $56M in 2022. Over the period under review, imports, however, showed a deep downturn. The pace of growth was the most pronounced in 2021 with an increase of 2.5% against the previous year. Imports peaked at $66M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Import of Refrigerator Compressor in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	23.5	23.1	33.7	33.0	12.0%
Singapore	8.3	6.7	6.4	5.8	-11.3%
Japan	5.1	10.2	5.0	4.4	-4.8%
Thailand	4.1	2.6	2.7	3.9	-1.7%
Malaysia	12.5	4.3	2.5	1.4	-51.8%
Others	12.7	10.6	8.7	7.8	-15.0%
Total	66.3	57.6	59.1	56.3	-5.3%

Top Suppliers of Refrigerator Compressor to the Philippines in 2022:

China (565.5K units)
Singapore (86.5K units)
Japan (33.3K units)
Thailand (19.2K units)
Malaysia (14.9K units)

Refrigerator Compressor Exports in the Philippines

In 2022, the amount of compressors for refrigeration equipment exported from the Philippines skyrocketed to 41K units, picking up by 19% on the previous year. Overall, exports saw a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 134% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, refrigerator compressor exports surged to $7.8M in 2022. Over the period under review, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 151%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in years to come.

Export of Refrigerator Compressor in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	2,150	886	1,612	1,403	-13.3%
Singapore	199	446	1,085	1,367	90.1%
United Arab Emirates	254	72.5	591	1,350	74.5%
Australia	82.0	378	795	710	105.3%
Israel	0.7	N/A	1,272	709	904.3%
India	219	262	214	385	20.7%
Taiwan (Chinese)	2.7	5.0	3.4	118	252.2%
Others	569	436	670	1,801	46.8%
Total	3,477	2,485	6,243	7,843	31.1%

Top Export Markets for Refrigerator Compressor from the Philippines in 2022:

United States (20.2K units)
United Arab Emirates (9.0K units)
Australia (3.3K units)
Singapore (2.8K units)
India (2.6K units)
Israel (1.4K units)
Taiwan (Chinese) (0.8K units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the refrigerator compressor market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28132300 - Compressors for refrigeration equipment

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023