Philippines - Suspension Systems - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSuspension System Price in the Philippines - 2023
Contents:
- Suspension System Price in the Philippines (CIF) - 2022
- Suspension System Price in the Philippines (FOB) - 2022
- Suspension System Imports in the Philippines
- Suspension System Exports in the Philippines
Suspension System Price in the Philippines (CIF) - 2022
The average suspension system import price stood at $9,063 per ton in 2022, declining by -2.1% against the previous year. Over the period under review, the import price, however, continues to indicate significant growth. The pace of growth was the most pronounced in 2019 an increase of 171% against the previous year. The import price peaked at $9,259 per ton in 2021, and then contracted in the following year.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Hong Kong SAR ($9,063 per ton) and Indonesia ($9,062 per ton), while the price for Malaysia ($9,062 per ton) and Thailand ($9,062 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+36.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Suspension System Price in the Philippines (FOB) - 2022
The average suspension system export price stood at $9,545 per ton in 2022, which is down by -12.6% against the previous year. Overall, the export price, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by 236% against the previous year. Over the period under review, the average export prices reached the maximum at $47,407 per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Thailand ($9,545 per ton) and Indonesia ($9,545 per ton), while the average price for exports to Japan ($9,544 per ton) and Singapore ($9,545 per ton) were amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+25.0%), while the prices for the other major destinations experienced more modest paces of growth.
Suspension System Imports in the Philippines
In 2022, supplies from abroad of suspension systems was finally on the rise to reach 1.2K tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a abrupt contraction.
In value terms, suspension system imports rose rapidly to $11M in 2022. The total import value increased at an average annual rate of +6.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 31%. As a result, imports attained the peak of $12M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Suspension System in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 1,170 | 1,509 | 1,626 | 2,559 | 29.8% |
| Thailand | 1,364 | 897 | 1,803 | 2,558 | 23.3% |
| China | 2,927 | 5,626 | 3,287 | 2,437 | -5.9% |
| India | 202 | 336 | 322 | 780 | 56.9% |
| South Korea | 287 | 342 | 525 | 472 | 18.0% |
| Indonesia | 42.7 | 84.1 | 159 | 443 | 118.1% |
| United States | 444 | 266 | 662 | 441 | -0.2% |
| Malaysia | 156 | 217 | 271 | 342 | 29.9% |
| United Kingdom | 111 | 91.3 | 141 | 257 | 32.3% |
| Germany | 119 | 223 | 334 | 173 | 13.3% |
| Singapore | 423 | 295 | 240 | 164 | -27.1% |
| Taiwan (Chinese) | 133 | 187 | 198 | 102 | -8.5% |
| Hong Kong SAR | 1,006 | 236 | 46.1 | 39.0 | -66.2% |
| Others | 960 | 1,977 | 476 | 430 | -23.5% |
| Total | 9,346 | 12,287 | 10,089 | 11,199 | 6.2% |
Top Suppliers of Suspension System to the Philippines in 2022:
- Japan (282.4 tons)
- Thailand (282.3 tons)
- China (268.9 tons)
- India (86.1 tons)
- South Korea (52.1 tons)
- Indonesia (48.9 tons)
- United States (48.7 tons)
- Malaysia (37.7 tons)
- United Kingdom (28.4 tons)
- Germany (19.1 tons)
- Singapore (18.1 tons)
- Taiwan (Chinese) (11.3 tons)
- Hong Kong SAR (4.3 tons)
Suspension System Exports in the Philippines
In 2022, overseas shipments of suspension systems were finally on the rise to reach 190 tons after two years of decline. In general, exports continue to indicate a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, suspension system exports skyrocketed to $1.8M in 2022. Over the period under review, exports saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Suspension System in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | N/A | N/A | N/A | 1,665 | 0% |
| Indonesia | N/A | N/A | N/A | 68.7 | 0% |
| Singapore | N/A | N/A | N/A | 35.9 | 0% |
| Japan | 0.1 | 23.6 | 1.4 | 31.7 | 581.8% |
| Vietnam | 34.4 | N/A | 0.1 | 6.2 | -43.5% |
| Others | 30.1 | 13.1 | 28.7 | 8.1 | -35.4% |
| Total | 64.6 | 36.6 | 30.3 | 1,815 | 204.0% |
Top Export Markets for Suspension System from the Philippines in 2022:
- Thailand (174.4 tons)
- Indonesia (7.2 tons)
- Singapore (3.8 tons)
- Japan (3.3 tons)
- Vietnam (0.6 tons)
This report provides an in-depth analysis of the suspension system 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 29323050 - Suspension systems and parts thereof (including shock absorbers)
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
-
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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