Philippines: Market for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles 2025

Market Size for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in the Philippines

The Philippine market for electrical lighting or visual signaling equipment for motor vehicles and cycles dropped modestly to $X in 2022, standing approx. at the previous year. In general, consumption, however, posted a prominent expansion. Lighting equipment for motor vehicles consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in the Philippines

In value terms, lighting equipment for motor vehicles production totaled $X in 2022 estimated in export price. Overall, production, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. Lighting equipment for motor vehicles production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Exports from the Philippines

In 2022, exports of electrical lighting or visual signaling equipment for motor vehicles and cycles from the Philippines soared to X units, growing by X% compared with the previous year's figure. Over the period under review, exports saw a remarkable increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, lighting equipment for motor vehicles exports skyrocketed to $X in 2022. Overall, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand (X units) was the main destination for lighting equipment for motor vehicles exports from the Philippines, accounting for a X% share of total exports. Moreover, lighting equipment for motor vehicles exports to Thailand exceeded the volume sent to the second major destination, Singapore (X units), twofold. The third position in this ranking was held by Malaysia (X units), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Thailand totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and Malaysia (X% per year).

In value terms, Thailand ($X), Singapore ($X) and South Africa ($X) constituted the largest markets for lighting equipment for motor vehicles exported from the Philippines worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, Thailand, with a CAGR of X%, 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

In 2022, the average export price for electrical lighting or visual signaling equipment for motor vehicles and cycles amounted to $X per unit, with an increase of X% against the previous year. In general, the export price enjoyed buoyant growth. The pace of growth was the most pronounced in 2015 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Imports into the Philippines

In 2022, imports of electrical lighting or visual signaling equipment for motor vehicles and cycles into the Philippines soared to X units, jumping by X% compared with 2021. Overall, imports recorded strong growth. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, lighting equipment for motor vehicles imports soared to $X in 2022. In general, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X units), Thailand (X units) and Indonesia (X units) were the main suppliers of lighting equipment for motor vehicles imports to the Philippines, with a combined X% share of total imports. Japan, Taiwan (Chinese), Malaysia, the United States, South Korea and India lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lighting equipment for motor vehicles suppliers to the Philippines were Thailand ($X), Indonesia ($X) and China ($X), with a combined X% share of total imports. Japan, Taiwan (Chinese), Malaysia, the United States, South Korea and India lagged somewhat behind, together accounting for a further X%.

Malaysia, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average import price for electrical lighting or visual signaling equipment for motor vehicles and cycles stood at $X per unit in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The import price peaked at $X per unit in 2018; afterwards, it flattened through to 2022.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Indonesia ($X per unit) and South Korea ($X per unit), while the price for China ($X per unit) and Malaysia ($X per unit) were 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 more modest paces of growth.

Source: IndexBox Platform

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