Philippines: Market for Motor Vehicle Chassis Fitted With Engines 2024

Market Size for Motor Vehicle Chassis Fitted With Engines in the Philippines

The Philippine market for motor vehicle chassis fitted with engines surged to $X in 2022, with an increase of X% against the previous year. Overall, consumption recorded a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Motor Vehicle Chassis Fitted With Engines in the Philippines

In value terms, production of motor vehicle chassis fitted with engines declined 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; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production of growth failed to regain momentum.

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Exports of Motor Vehicle Chassis Fitted With Engines

Exports from the Philippines

In 2022, approx. X units of motor vehicle chassis fitted with engines were exported from the Philippines; growing by X% on 2021 figures. In general, exports, however, showed a dramatic slump. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, exports of motor vehicle chassis fitted with engines skyrocketed to $X in 2022. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

South Korea (X units), China (X units) and Japan (X units) were the main destinations of exports of motor vehicle chassis fitted with engines from the Philippines.

From 2013 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Japan ($X) appeared to be the largest markets for motor vehicle chassis fitted with engines exported from the Philippines worldwide.

In terms of the main countries of destination, Japan, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for motor vehicle chassis fitted with engines stood at $X per unit in 2022, jumping by X% against the previous year. In general, the export price enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Japan ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X.8%).

Imports of Motor Vehicle Chassis Fitted With Engines

Imports into the Philippines

In 2022, the amount of motor vehicle chassis fitted with engines imported into the Philippines skyrocketed to X units, increasing by X% against the previous year's figure. In general, imports saw a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of motor vehicle chassis fitted with engines surged to $X in 2022. Over the period under review, imports showed a significant increase. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X units) constituted the largest motor vehicle chassis fitted with engines supplier to the Philippines, with a X% share of total imports. Moreover, imports of motor vehicle chassis fitted with engines from Japan exceeded the figures recorded by the second-largest supplier, India (X units), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and South Korea (X% per year).

In value terms, the largest motor vehicle chassis fitted with engines suppliers to the Philippines were India ($X), Japan ($X) and South Korea ($X), with a combined X% share of total imports.

Among the main suppliers, India, 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 mixed trend patterns.

Import Prices by Country

The average import price for motor vehicle chassis fitted with engines stood at $X per unit in 2022, with a decrease of X% against the previous year. In general, the import price recorded a abrupt setback. The pace of growth appeared the most rapid in 2019 when the average import price increased by X%. The import price peaked at $X per unit in 2020; however, from 2021 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 India ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform