Philippines: Boiler Parts Market Overview 2020

Boiler Parts Market Size in the Philippines

The revenue of the boiler parts market in the Philippines amounted to $X in 2018, coming down by -X% against 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, boiler parts consumption continues to indicate temperate growth. The most prominent rate of growth was recorded in 2009 with an increase of X% against the previous year. In that year, the boiler parts market attained its peak level of $X. From 2010 to 2018, the growth of the boiler parts market remained at a somewhat lower figure.

Boiler Parts Exports

Exports from the Philippines

In 2018, approx. X kg of parts of boilers for central heating were exported from the Philippines; going up by X% against the previous year. In general, boiler parts exports continue to indicate outstanding growth. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. In that year, boiler parts exports reached their peak and are likely to continue its growth in the immediate term.

In value terms, boiler parts exports stood at $X in 2018. The total export value increased at an average annual rate of +X% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2012 with an increase of X% against the previous year. In that year, boiler parts exports reached their peak of $X. From 2013 to 2018, the growth of boiler parts exports remained at a lower figure.

Exports by Country

Singapore (X kg) was the main destination for boiler parts exports from the Philippines, accounting for a X% share of total exports. Moreover, boiler parts exports to Singapore exceeded the volume sent to the second major destination, Kuwait (X kg), twofold. The third position in this ranking was occupied by the Netherlands (X kg), with a X% share.

From 2007 to 2018, the average annual growth rate of volume to Singapore amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (X% per year) and the Netherlands (+X% per year).

In value terms, Singapore ($X) remains the key foreign market for boiler parts exports from the Philippines, comprising X% of total boiler parts exports. The second position in the ranking was occupied by the Netherlands ($X), with a X% share of total exports. It was followed by Kuwait, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value to Singapore totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-X% per year) and Kuwait (X% per year).

Export Prices by Country

In 2018, the average boiler parts export price amounted to $X per tonne, dropping by -X% against the previous year. Overall, the boiler parts export price continues to indicate a sharp curtailment. The most prominent rate of growth was recorded in 2010 a decrease of -X% y-o-y. Over the period under review, the average export prices for parts of boilers for central heating reached their peak figure at $X per tonne in 2007; however, from 2008 to 2018, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Singapore ($X per tonne), while the average price for exports to Kuwait ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait, while the prices for the other major destinations experienced a decline.

Boiler Parts Imports

Imports into the Philippines

Boiler parts imports into the Philippines stood at X tonnes in 2018, going down by -X% against the previous year. Over the period under review, boiler parts imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2009 with an increase of X% y-o-y. In that year, boiler parts imports reached their peak of X tonnes. From 2010 to 2018, the growth of boiler parts imports failed to regain its momentum.

In value terms, boiler parts imports stood at $X in 2018. Overall, boiler parts imports continue to indicate remarkable growth. The pace of growth was the most pronounced in 2009 when imports increased by X% against the previous year. In that year, boiler parts imports reached their peak of $X. From 2010 to 2018, the growth of boiler parts imports remained at a lower figure.

Imports by Country

In 2018, South Korea (X tonnes) constituted the largest supplier of boiler parts to the Philippines, with a X% share of total imports. Moreover, boiler parts imports from South Korea exceeded the figures recorded by the second-largest supplier, South Africa (X tonnes), eightfold. The third position in this ranking was occupied by India (X tonnes), with a X% share.

From 2007 to 2018, the average annual growth rate of volume from South Korea stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+X% per year) and India (+X% per year).

In value terms, South Korea ($X), Viet Nam ($X) and the U.S. ($X) were the largest boiler parts suppliers to the Philippines, with a combined X% share of total imports.

Among the main suppliers, South Korea recorded the highest rates of growth with regard to imports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the average boiler parts import price amounted to $X per tonne, growing by X% against the previous year. In general, the boiler parts import price continues to indicate a remarkable expansion. The pace of growth was the most pronounced in 2018 when the average import price increased by X% against the previous year. In that year, the average import prices for parts of boilers for central heating reached their peak level and is likely to continue its growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2018, the country with the highest price was the U.S. ($X per tonne), while the price for South Korea ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Viet Nam, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform