Philippines - Sparking Plugs - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSpark Plug Price in the Philippines - 2023
Contents:
- Spark Plug Price in the Philippines (CIF) - 2022
- Spark Plug Price in the Philippines (FOB) - 2022
- Spark Plug Imports in the Philippines
- Spark Plug Exports in the Philippines
Spark Plug Price in the Philippines (CIF) - 2022
The average spark plug import price stood at $3.5 per unit in 2022, rising by 3.1% against the previous year. Overall, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spark plug import price increased by +85.5% against 2012 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 17%. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from India ($3.5 per unit) and Indonesia ($3.5 per unit), while the price for Singapore ($3.5 per unit) and Thailand ($3.5 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Spark Plug Price in the Philippines (FOB) - 2022
The average spark plug export price stood at $0.9 per unit in 2022, shrinking by -6.4% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 21% against the previous year. As a result, the export price reached the peak level of $1.1 per unit. From 2019 to 2022, the average export prices failed to regain momentum.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Japan ($0.9 per unit) and Thailand ($0.9 per unit), while the average price for exports to Singapore ($0.9 per unit) and Malaysia ($0.9 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.
Spark Plug Imports in the Philippines
In 2022, imports of sparking plugs into the Philippines skyrocketed to 3.1M units, with an increase of 26% on the previous year. In general, imports, however, continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 36%. Over the period under review, imports hit record highs at 4.1M units in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, spark plug imports soared to $11M in 2022. Overall, imports, however, recorded a noticeable slump. The pace of growth appeared the most rapid in 2021 when imports increased by 41% against the previous year. Over the period under review, imports reached the peak figure at $12M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
| Import of Spark Plug in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 3.7 | 3.0 | 4.4 | 5.5 | 14.1% |
| Japan | 3.8 | 1.9 | 1.9 | 2.1 | -17.9% |
| China | 1.8 | 0.3 | 1.0 | 1.1 | -15.1% |
| India | 0.3 | 0.1 | 0.3 | 0.4 | 10.1% |
| Indonesia | 1.1 | 0.2 | 0.2 | 0.3 | -35.2% |
| United States | 0.2 | 0.1 | 0.2 | 0.3 | 14.5% |
| Ireland | N/A | N/A | N/A | 0.3 | 0% |
| Others | 1.2 | 0.3 | 0.4 | 0.9 | -9.1% |
| Total | 12.1 | 5.9 | 8.4 | 10.9 | -3.4% |
Top Suppliers of Spark Plug to the Philippines in 2022:
- Thailand (1560.4K units)
- Japan (582.8K units)
- China (315.9K units)
- India (106.5K units)
- United States (97.5K units)
- Indonesia (78.5K units)
- Ireland (75.9K units)
Spark Plug Exports in the Philippines
In 2022, overseas shipments of sparking plugs decreased by -12.8% to 2.2M units, falling for the second year in a row after two years of growth. Over the period under review, exports, however, posted a significant expansion. The growth pace was the most rapid in 2020 with an increase of 669% against the previous year. As a result, the exports attained the peak of 4.2M units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, spark plug exports declined rapidly to $2.1M in 2022. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 638% against the previous year. As a result, the exports attained the peak of $4.1M. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Spark Plug in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 0.1 | 1,575 | 1,974 | 1,496 | 2364.0% |
| Thailand | 141 | 129 | 427 | 488 | 51.3% |
| Malaysia | N/A | 2,118 | 19.3 | 111 | -77.1% |
| China | 390 | N/A | N/A | N/A | 0% |
| Others | 30.5 | 315 | 149 | 1.8 | -61.1% |
| Total | 561 | 4,137 | 2,569 | 2,097 | 55.2% |
Top Export Markets for Spark Plug from the Philippines in 2022:
- Japan (1603.9K units)
- Thailand (523.6K units)
- Malaysia (119.2K units)
This report provides an in-depth analysis of the spark plug 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 29312130 - Sparking plugs
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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- 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
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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