Philippines: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in the Philippines

The Philippine flywheels and pulleys market skyrocketed to $X in 2021, jumping by 26% 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). Over the period under review, consumption saw a pronounced increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Flywheels And Pulleys Exports

Exports from the Philippines

In 2021, approx. X tons of flywheels and pulleys were exported from the Philippines; waning by -21.9% compared with 2020 figures. In general, exports, however, showed a significant increase. The growth pace was the most rapid in 2013 when exports increased by 4,935% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, flywheels and pulleys exports contracted to $X in 2021. Over the period under review, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 17,732%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons), Japan (X tons) and Germany (X tons) were the main destinations of flywheels and pulleys exports from the Philippines, with a combined 88% share of total exports. These countries were followed by Australia, the United States and Taiwan (Chinese), which together accounted for a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +467.3%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Japan ($X) and Germany ($X) constituted the largest markets for flywheels and pulleys exported from the Philippines worldwide, with a combined 88% share of total exports. Australia, the United States and Taiwan (Chinese) lagged somewhat behind, together comprising a further 11%.

Australia, with a CAGR of +520.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average flywheels and pulleys export price stood at $X per ton in 2021, rising by 9.6% against the previous year. Overall, the export price showed buoyant growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 254% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Australia ($X per ton) and Japan ($X per ton), while the average price for exports to Vietnam ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+31.2%), while the prices for the other major destinations experienced more modest paces of growth.

Flywheels And Pulleys Imports

Imports into the Philippines

In 2021, supplies from abroad of flywheels and pulleys was finally on the rise to reach X tons after three years of decline. Over the period under review, imports recorded modest growth. The most prominent rate of growth was recorded in 2016 when imports increased by 83% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, flywheels and pulleys imports rose markedly to $X in 2021. In general, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 77%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), China (X tons) and Hong Kong SAR (X tons) were the main suppliers of flywheels and pulleys imports to the Philippines, together accounting for 56% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +49.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Hong Kong SAR ($X) appeared to be the largest flywheels and pulleys suppliers to the Philippines, together accounting for 56% of total imports.

Hong Kong SAR, with a CAGR of +52.2%, recorded the highest rates of growth with regard to the value of imports, among 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 2021, the average flywheels and pulleys import price amounted to $X per ton, stabilizing at the previous year. Over the period under review, the import price showed a strong increase. The pace of growth appeared the most rapid in 2018 an increase of 112% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Thailand ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for Singapore ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+35.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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