Philippines: Vapour Power Unit Market 2025

Vapour Power Unit Market Size in the Philippines

The Philippine vapour power unit market reduced sharply to $X in 2021, which is down by -42% 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). In general, consumption, however, showed a significant increase. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Vapour Power Unit Exports

Exports from the Philippines

In 2021, after two years of growth, there was decline in shipments abroad of condensers for steam or other vapour power units, when their volume decreased by -2.7% to X tons. Over the period under review, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 203%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, vapour power unit exports dropped to $X in 2021. In general, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 254%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for vapour power unit exports from the Philippines, accounting for a 95% share of total exports. Moreover, vapour power unit exports to Japan exceeded the volume sent to the second major destination, Indonesia (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Japan amounted to +92.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (0.0% per year) and Taiwan (Chinese) (-29.1% per year).

In value terms, Japan ($X) remains the key foreign market for vapour power unit exports from the Philippines, comprising 92% of total exports. The second position in the ranking was held by Indonesia ($X), with a 5.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Japan amounted to +38.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (0.0% per year) and Taiwan (Chinese) (-20.4% per year).

Export Prices by Country

In 2021, the average vapour power unit export price amounted to $X per ton, dropping by -10.9% against the previous year. Overall, the export price saw a perceptible descent. The growth pace was the most rapid in 2017 when the average export price increased by 22%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+11.9%).

Vapour Power Unit Imports

Imports into the Philippines

In 2021, approx. X tons of condensers for steam or other vapour power units were imported into the Philippines; waning by -41.6% compared with the previous year. Overall, imports, however, saw a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 15,634%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, vapour power unit imports dropped dramatically to $X in 2021. Over the period under review, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 17,617% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Taiwan (Chinese) (X tons), Thailand (X tons) and India (X tons) were the main suppliers of vapour power unit imports to the Philippines, together comprising 74% of total imports. These countries were followed by Japan, China and Denmark, which together accounted for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of +160.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of vapour power unit to the Philippines, comprising 53% of total imports. The second position in the ranking was held by India ($X), with a 14% share of total imports. It was followed by Japan, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Taiwan (Chinese) stood at +49.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+55.3% per year) and Japan (+74.6% per year).

Import Prices by Country

In 2021, the average vapour power unit import price amounted to $X per ton, almost unchanged from the previous year. In general, the import price recorded a mild decline. The pace of growth appeared the most rapid in 2014 an increase of 37% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+9.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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