Philippines: Electronic Metal Tester Market 2024

Electronic Metal Tester Market Size in the Philippines

The Philippine electronic metal tester market rose notably to $X.2B in 2022, increasing by X% against the previous year. In general, consumption saw a significant expansion. As a result, consumption reached the peak level of $X.1B. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Electronic Metal Tester Production in the Philippines

In value terms, electronic metal tester production rose remarkably to $X.5B in 2022 estimated in export price. Overall, production saw a significant expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X.5B. From 2021 to 2022, production growth remained at a lower figure.

Electronic Metal Tester Exports

Exports from the Philippines

In 2022, the amount of electronic machines and appliances for testing metals exported from the Philippines surged to X units, increasing by X% compared with 2021 figures. In general, exports, however, faced a dramatic decrease. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, electronic metal tester exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a deep downturn. 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 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for electronic metal tester exports from the Philippines, with a X% share of total exports. Moreover, electronic metal tester exports to the United States exceeded the volume sent to the second major destination, China (X units), fivefold. Japan (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Japan (X% per year).

In value terms, the United States ($X), South Korea ($X) and Japan ($X) were the largest markets for electronic metal tester exported from the Philippines worldwide, with a combined X% share of total exports.

The United States, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average electronic metal tester export price stood at $X per unit in 2022, rising by X% against the previous year. Over the period under review, the export price posted a buoyant increase. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Malaysia ($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 Japan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electronic Metal Tester Imports

Imports into the Philippines

In 2022, approx. X units of electronic machines and appliances for testing metals were imported into the Philippines; shrinking by X% against the previous year's figure. In general, imports faced a abrupt decline. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, electronic metal tester imports contracted significantly to $X in 2022. Over the period under review, imports faced a precipitous slump. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Singapore (X units) and Japan (X units) were the main suppliers of electronic metal tester imports to the Philippines, together comprising X% of total imports. Italy, the Netherlands, Turkey, the UK, the United States, South Korea, Thailand, Malaysia and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and the United States ($X) constituted the largest electronic metal tester suppliers to the Philippines, with a combined X% share of total imports. Singapore, the Netherlands, South Korea, the UK, Italy, Thailand, Malaysia, Turkey and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, the Netherlands, with a CAGR of X%, saw 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

In 2022, the average electronic metal tester import price amounted to $X per unit, picking up by X% against the previous year. Overall, the import price, however, saw a abrupt decline. The growth pace was the most rapid in 2018 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 the United States ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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