Philippines: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in the Philippines

The Philippine flywheels and pulleys market contracted to $X in 2022, with a decrease of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Flywheels And Pulleys Production in the Philippines

In value terms, flywheels and pulleys production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. Flywheels and pulleys production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Flywheels And Pulleys Exports

Exports from the Philippines

In 2022, approx. X tons of flywheels and pulleys were exported from the Philippines; increasing by X% against the year before. In general, exports showed 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 reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, flywheels and pulleys exports skyrocketed to $X in 2022. Overall, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for flywheels and pulleys exports from the Philippines, accounting for a X% share of total exports. Moreover, flywheels and pulleys exports to Germany exceeded the volume sent to the second major destination, the United States (X tons), threefold. Vietnam (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, Germany ($X) emerged as the key foreign market for flywheels and pulleys exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

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

Export Prices by Country

The average flywheels and pulleys export price stood at $X per ton in 2022, reducing by X% against the previous year. In general, the export price, however, saw strong growth. The pace of growth was the most pronounced in 2013 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Japan ($X per ton) and Germany ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) and the United States ($X per ton) were 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.

Flywheels And Pulleys Imports

Imports into the Philippines

In 2022, flywheels and pulleys imports into the Philippines rose rapidly to X tons, picking up by X% against the year before. Overall, imports recorded a temperate expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, flywheels and pulleys imports rose remarkably to $X in 2022. Over the period under review, imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Japan (X tons), Hong Kong SAR (X tons) and China (X tons) were the main suppliers of flywheels and pulleys imports to the Philippines, together comprising X% of total imports. The United States, Germany, Italy, Indonesia, Singapore, Belgium, Malaysia, South Korea, Thailand and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest flywheels and pulleys suppliers to the Philippines were Japan ($X), Hong Kong SAR ($X) and China ($X), with a combined X% share of total imports. The United States, Germany, Italy, Indonesia, Singapore, Belgium, Malaysia, South Korea, Thailand and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

Belgium, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers 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 flywheels and pulleys import price amounted to $X per ton, waning by X% against the previous year. In general, the import price, however, showed a remarkable increase. The pace of growth was the most pronounced in 2018 when the average import price increased by X%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were South Korea ($X per ton) and Thailand ($X per ton), while the price for Taiwan (Chinese) ($X per ton) and Malaysia ($X per ton) were 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 more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :