Philippines - Boards, Panels, Consoles, Desks and Cabinets - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPhilippines: Market for Electrical Boards, Panels, Consoles, Desks and Cabinets 2024
Market Size for Electrical Boards, Panels, Consoles, Desks and Cabinets in the Philippines
The Philippine market for electrical boards, panels, consoles, desks and cabinets shrank slightly to $X in 2023, flattening at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a prominent increase. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market failed to regain momentum.
Exports of Electrical Boards, Panels, Consoles, Desks and Cabinets
Exports from the Philippines
In 2023, electric board, desk and panel exports from the Philippines surged to X units, increasing by X% on the year before. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2023, the exports failed to regain momentum.
In value terms, electric board, desk and panel exports soared to $X in 2023. In general, exports recorded prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.
Exports by Country
Hong Kong SAR (X units) was the main destination for electric board, desk and panel exports from the Philippines, with a X% share of total exports. Moreover, electric board, desk and panel exports to Hong Kong SAR exceeded the volume sent to the second major destination, Japan (X units), more than tenfold. South Korea (X units) ranked third in terms of total exports with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume to Hong Kong SAR stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and South Korea (X% per year).
In value terms, Hong Kong SAR ($X) emerged as the key foreign market for electrical boards, panels, consoles, desks and cabinets exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value to Hong Kong SAR amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and South Korea (X% per year).
Export Prices by Country
The average export price for electrical boards, panels, consoles, desks and cabinets stood at $X per unit in 2023, growing by X% against the previous year. In general, the export price, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.
Average prices varied noticeably for the major overseas markets. In 2023, amid the top suppliers, the highest price was recorded for prices to the UK ($X per unit) and Japan ($X per unit), while the average price for exports to China ($X per unit) and South Korea ($X per unit) were amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced a decline.
Imports of Electrical Boards, Panels, Consoles, Desks and Cabinets
Imports into the Philippines
In 2023, approx. X units of electrical boards, panels, consoles, desks and cabinets were imported into the Philippines; approximately mirroring the previous year's figure. Over the period under review, imports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Imports peaked at X units in 2021; however, from 2022 to 2023, imports remained at a lower figure.
In value terms, electric board, desk and panel imports rose notably to $X in 2023. In general, imports showed a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.
Imports by Country
Japan (X units), South Korea (X units) and China (X units) were the main suppliers of electric board, desk and panel imports to the Philippines, with a combined X% share of total imports. Singapore, India, Hong Kong SAR, the Netherlands, Malaysia, the United States, Taiwan (Chinese), Thailand and Germany lagged somewhat behind, together comprising a further X%.
From 2012 to 2023, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest electric board, desk and panel suppliers to the Philippines were Japan ($X), South Korea ($X) and China ($X), together accounting for X% of total imports. Singapore, India, Hong Kong SAR, the Netherlands, Malaysia, the United States, Taiwan (Chinese), Thailand and Germany lagged somewhat behind, together comprising a further X%.
In terms of the main suppliers, the Netherlands, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The average import price for electrical boards, panels, consoles, desks and cabinets stood at $X per unit in 2023, picking up by X% against the previous year. In general, import price indicated measured growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, electric board, desk and panel import price increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per unit in 2017; however, from 2018 to 2023, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from India ($X per unit) and Japan ($X per unit), while the price for Singapore ($X per unit) and Taiwan (Chinese) ($X per unit) were amongst the lowest.
From 2012 to 2023, 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
This report provides an in-depth analysis of the market for electric board, desk and panel 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 27124030 - Boards, panels, consoles, desks, cabinets and other bases for apparatus for electric control or the distribution of electricity (excluding those equipped with their apparatus)
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
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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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