Philippines: Brakes And Servo-Brakes Market 2025

Brakes And Servo-Brakes Market Size in the Philippines

The Philippine brakes and servo-brakes market contracted to $X in 2022, dropping by -5.5% against the previous year. In general, consumption, however, recorded a mild decrease. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Brakes And Servo-Brakes Production in the Philippines

In value terms, brakes and servo-brakes production reached $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 56%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Brakes And Servo-Brakes Exports

Exports from the Philippines

In 2022, the amount of brakes and servo-brakes exported from the Philippines reduced remarkably to X tons, shrinking by -63.1% against the year before. Over the period under review, exports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 543%. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, brakes and servo-brakes exports shrank sharply to $X in 2022. In general, exports, however, saw temperate growth. The growth pace was the most rapid in 2018 with an increase of 388% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons), Canada (X tons) and the United States (X tons) were the main destinations of brakes and servo-brakes exports from the Philippines, together accounting for 87% of total exports. Indonesia, Mexico, Georgia and Thailand lagged somewhat behind, together accounting for a further 13%.

From 2017 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Georgia (with a CAGR of +172.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for brakes and servo-brakes exported from the Philippines were Japan ($X), Canada ($X) and the United States ($X), with a combined 90% share of total exports. Mexico, Georgia, Indonesia and Thailand lagged somewhat behind, together comprising a further 10%.

In terms of the main countries of destination, Georgia, with a CAGR of +151.6%, recorded 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 brakes and servo-brakes export price stood at $X per ton in 2022, which is down by -15.1% against the previous year. Overall, the export price faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when the average export price increased by 8.3% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

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

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (-4.3%), while the prices for the other major destinations experienced a decline.

Brakes And Servo-Brakes Imports

Imports into the Philippines

In 2022, supplies from abroad of brakes and servo-brakes increased by 2.9% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 37% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, brakes and servo-brakes imports rose significantly to $X in 2022. Over the period under review, total imports indicated a strong increase from 2017 to 2022: its value increased at an average annual rate of +5.0% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +32.2% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 57%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Thailand (X tons), China (X tons) and Japan (X tons) were the main suppliers of brakes and servo-brakes imports to the Philippines, with a combined 58% share of total imports. South Korea, Malaysia, Hong Kong SAR, Germany, Indonesia and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 30%.

From 2017 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +78.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest brakes and servo-brakes suppliers to the Philippines were Thailand ($X), China ($X) and Japan ($X), together accounting for 61% of total imports. South Korea, Malaysia, Hong Kong SAR, Germany, Indonesia and Taiwan (Chinese) lagged somewhat behind, together comprising a further 26%.

Malaysia, with a CAGR of +120.7%, recorded the highest growth rate of the value of imports, in terms of 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 brakes and servo-brakes import price amounted to $X per ton, with an increase of 4.8% against the previous year. Over the period under review, the import price continues to indicate resilient growth. The growth pace was the most rapid in 2019 when the average import price increased by 67%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+26.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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