Philippines - Thermostats - Market Analysis, Forecast, Size, Trends and Insights
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View PricingThermostat Price in the Philippines - 2023
Contents:
- Thermostat Price in the Philippines (CIF) - 2022
- Thermostat Price in the Philippines (FOB) - 2022
- Thermostat Imports in the Philippines
- Thermostat Exports in the Philippines
Thermostat Price in the Philippines (CIF) - 2022
In 2022, the average thermostat import price amounted to $7.1 per unit, rising by 6.8% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, thermostat import price decreased by -3.0% against 2018 indices. The pace of growth appeared the most rapid in 2014 an increase of 61%. The import price peaked at $7.3 per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.
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 Switzerland ($25 per unit), while the price for Japan ($3 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+22.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Thermostat Price in the Philippines (FOB) - 2022
In 2022, the average thermostat export price amounted to $22 per unit, jumping by 204% against the previous year. Over the period under review, the export price, however, faced a abrupt contraction. The export price peaked at $172 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($119 per unit), while the average price for exports to Japan ($2.3 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 Mexico (+70.8%), while the prices for the other major destinations experienced more modest paces of growth.
Thermostat Imports in the Philippines
In 2022, imports of thermostats into the Philippines reduced sharply to 559K units, with a decrease of -36.6% on the year before. Overall, imports showed a pronounced downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 74%. As a result, imports attained the peak of 881K units, and then dropped remarkably in the following year.
In value terms, thermostat imports fell significantly to $4M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +5.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +16.8% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 63% against the previous year. As a result, imports reached the peak of $5.9M, and then shrank dramatically in the following year.
Import of Thermostat in the Philippines (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 1,279 | 1,089 | 1,183 | 1,233 | -1.2% |
Japan | 464 | 817 | 1,225 | 492 | 2.0% |
Italy | 216 | 356 | 913 | 274 | 8.3% |
Singapore | 225 | 210 | 326 | 251 | 3.7% |
Switzerland | 5.1 | 3.4 | 176 | 250 | 266.0% |
Malaysia | 144 | 68.3 | 86.9 | 128 | -3.9% |
Indonesia | 112 | 104 | 128 | 81.4 | -10.1% |
Thailand | 115 | 74.9 | 33.4 | 77.2 | -12.4% |
Others | 842 | 878 | 1,793 | 1,186 | 12.1% |
Total | 3,401 | 3,601 | 5,864 | 3,973 | 5.3% |
Top Suppliers of Thermostat to the Philippines in 2022:
- China (243.2K units)
- Japan (163.0K units)
- Malaysia (37.1K units)
- Italy (28.5K units)
- Singapore (15.2K units)
- Thailand (12.7K units)
- Switzerland (10.1K units)
- Indonesia (6.1K units)
Thermostat Exports in the Philippines
In 2022, approx. 224K units of thermostats were exported from the Philippines; waning by -31.2% on 2021. In general, exports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of 149%. As a result, the exports reached the peak of 326K units, and then dropped notably in the following year.
In value terms, thermostat exports soared to $5M in 2022. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 334% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.
Export of Thermostat in the Philippines (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Canada | N/A | N/A | 158 | 1,749 | 1007.0% |
Thailand | 0.2 | 0.1 | 1,067 | 1,610 | 1904.2% |
Germany | N/A | 24.7 | 377 | 1,221 | 603.1% |
China | N/A | 45.0 | 93.5 | 225 | 123.6% |
Japan | 467 | 482 | 705 | 165 | -29.3% |
Others | 1.1 | 3.3 | 8.7 | 72.6 | 304.1% |
Total | 468 | 555 | 2,409 | 5,042 | 120.9% |
Top Export Markets for Thermostat from the Philippines in 2022:
- Japan (72.7K units)
- Canada (68.7K units)
- Thailand (46.2K units)
- Germany (31.2K units)
- China (4.6K units)
This report provides an in-depth analysis of the thermostat 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 26517015 - Electronic thermostats
- Prodcom 26517019 - Non-electronic thermostats
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.
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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
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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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Global thermostat imports amounted to X tons in 2016, increasing by X% against the previous year figure. The total import volume increased at an average annual rate of +X% from 2007 to 2016- th...
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