Report Update: May 1, 2024

Philippines - Bodies For Special Purpose Motor Vehicles - Market Analysis, Forecast, Size, Trends And Insights

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Special Vehicle Body Price in the Philippines - 2023

Special Vehicle Body Price in the Philippines (CIF) - 2023

The average special vehicle body import price stood at $147 per unit in June 2023, dropping by -4.3% against the previous month. Over the period under review, the import price continues to indicate a deep contraction. The growth pace was the most rapid in December 2022 when the average import price increased by 654% month-to-month. Over the period under review, average import prices attained the maximum at $332 per unit in June 2022; however, from July 2022 to June 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was China ($318 per unit), while the price for South Korea ($55.1 per unit) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by China (-2.4%), while the prices for the other major suppliers experienced a decline.

Special Vehicle Body Price in the Philippines (FOB) - 2022

In 2022, the average special vehicle body export price amounted to $259 per unit, which is down by -58.3% against the previous year. In general, the export price, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2020 an increase of 542%. The export price peaked at $2,000 per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($430 per unit), while the average price for exports to Indonesia amounted to $37 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+12.4%).

Special Vehicle Body Imports in the Philippines

In 2022, the amount of bodies for special purpose motor vehicles imported into the Philippines reduced remarkably to 45K units, which is down by -24.6% against 2021. In general, imports showed a significant decrease. The most prominent rate of growth was recorded in 2021 with an increase of 3.5% against the previous year. Over the period under review, imports attained the maximum at 96K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, special vehicle body imports shrank dramatically to $8.3M in 2022. Over the period under review, imports recorded a abrupt contraction. The growth pace was the most rapid in 2021 when imports increased by 13% against the previous year. Over the period under review, imports reached the maximum at $14M in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Import of Special Vehicle Body in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	9.3	7.4	8.2	5.7	-15.1%
China	2.3	1.2	1.4	0.8	-29.7%
India	N/A	N/A	N/A	0.6	0%
South Korea	0.4	0.4	0.5	0.6	14.5%
Singapore	0.1	0.2	N/A	0.1	0.0%
Others	1.8	0.4	0.7	0.6	-30.7%
Total	13.8	9.6	10.9	8.3	-15.6%

Top Suppliers of Special Vehicle Body to the Philippines in 2022:

Japan (31.9K units)
South Korea (6.8K units)
China (3.2K units)
Singapore (0.8K units)
India (0.8K units)

Special Vehicle Body Exports in the Philippines

In 2022, overseas shipments of bodies for special purpose motor vehicles were finally on the rise to reach 368 units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a significant contraction. The exports peaked at 15K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, special vehicle body exports dropped sharply to $95K in 2022. In general, exports, however, showed a sharp setback. The pace of growth appeared the most rapid in 2020 with an increase of 349% against the previous year. As a result, the exports reached the peak of $1.2M. From 2021 to 2022, the growth of the exports failed to regain momentum.

Export of Special Vehicle Body in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	20.9	60.3	99.3	89.4	62.3%
Indonesia	N/A	N/A	N/A	5.9	0%
United States	129	999	0.1	N/A	-97.2%
Singapore	46.8	N/A	N/A	N/A	0%
Others	60.1	95.9	63.3	N/A	2.6%
Total	257	1,155	163	95.3	-28.2%

Top Export Markets for Special Vehicle Body from the Philippines in 2022:

Japan (208.0 units)
Indonesia (160.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the special vehicle body 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 29201050 - Bodies for lorries, vans, buses, coaches, tractors, dumpers and special purpose motor vehicles including completely equipped and incomplete bodies, vehicles for the transport of. .10 persons

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