Philippines: Circuit Breaker Market 2024

Circuit Breaker Market Size in the Philippines

The Philippine circuit breaker market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, the total consumption indicated slight growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Circuit breaker consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Circuit Breaker Production in the Philippines

In value terms, circuit breaker production reached $X in 2022 estimated in export price. Overall, production enjoyed a noticeable increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Circuit breaker production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Circuit Breaker Exports

Exports from the Philippines

For the sixth consecutive year, the Philippines recorded growth in overseas shipments of automatic circuit breakers, which increased by X% to X units in 2022. Overall, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, circuit breaker exports skyrocketed to $X in 2022. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

The United States (X units) was the main destination for circuit breaker exports from the Philippines, with a X% share of total exports. Moreover, circuit breaker exports to the United States exceeded the volume sent to the second major destination, Taiwan (Chinese) (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Canada (X% per year).

In value terms, the United States ($X) remains the key foreign market for automatic circuit breakers exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Canada (X% per year).

Export Prices by Country

In 2022, the average circuit breaker export price amounted to $X per unit, picking up by X% against the previous year. Overall, the export price showed a moderate increase. The growth pace was the most rapid in 2014 when the average export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to the United States ($X 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 Taiwan (Chinese) (X%), while the prices for the other major destinations experienced mixed trend patterns.

Circuit Breaker Imports

Imports into the Philippines

In 2022, supplies from abroad of automatic circuit breakers increased by X% to X units, rising for the second consecutive year after two years of decline. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, circuit breaker imports expanded significantly to $X in 2022. In general, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Singapore (X units) and Brazil (X units) were the main suppliers of circuit breaker imports to the Philippines, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of automatic circuit breakers to the Philippines, comprising X% of total imports. The second position in the ranking was taken by Singapore ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (X% per year) and the United States (X% per year).

Import Prices by Country

In 2022, the average circuit breaker import price amounted to $X per unit, dropping by X% against the previous year. Over the period under review, the import price, however, continues to indicate a strong expansion. The growth pace was the most rapid in 2019 an increase of X%. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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