Philippines: Market for Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals 2024

Market Size for Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals in the Philippines

The Philippine market for fully or partly automatic electric machines for arc welding of metals shrank dramatically to $X in 2022, reducing by -43.6% 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 recorded a abrupt curtailment. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Exports of Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals

Exports from the Philippines

In 2022, shipments abroad of fully or partly automatic electric machines for arc welding of metals decreased by -97.2% to X units, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a sharp reduction. The most prominent rate of growth was recorded in 2020 with an increase of 117% against the previous year. Over the period under review, the exports of hit record highs at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, exports of fully or partly automatic electric machines for arc welding of metals contracted markedly to $X in 2022. Overall, exports showed a significant curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by 124% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X units) was the main destination for exports of fully or partly automatic electric machines for arc welding of metals from the Philippines, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan stood at +9.6%.

In value terms, Japan ($X) emerged as the key foreign market for fully or partly automatic electric machines for arc welding of metals exports from the Philippines.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan totaled -10.9%.

Export Prices by Country

In 2022, the average export price for fully or partly automatic electric machines for arc welding of metals amounted to $X per unit, reducing by -3.7% against the previous year. Overall, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the average export price increased by 21% against the previous year. The export price peaked at $X per unit in 2021, and then fell modestly in the following year.

As there is only one major export destination, the average price level is determined by prices for Japan.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +7.9% per year.

Imports of Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals

Imports into the Philippines

In 2022, the amount of fully or partly automatic electric machines for arc welding of metals imported into the Philippines declined rapidly to X units, waning by -55.9% on 2021. Overall, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 when imports increased by 59%. Over the period under review, imports of attained the peak figure at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of fully or partly automatic electric machines for arc welding of metals plummeted to $X in 2022. In general, imports, however, continue to indicate mild growth. The growth pace was the most rapid in 2019 when imports increased by 151% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest fully or partly automatic arc welding machine supplier to the Philippines, with a 42% share of total imports. Moreover, imports of fully or partly automatic electric machines for arc welding of metals from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. The third position in this ranking was held by Poland (X units), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+13.9% per year) and Poland (+21.1% per year).

In value terms, China ($X) constituted the largest supplier of fully or partly automatic electric machines for arc welding of metals to the Philippines, comprising 49% of total imports. The second position in the ranking was held by Japan ($X), with a 19% share of total imports. It was followed by Thailand, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+35.9% per year) and Thailand (+8.5% per year).

Import Prices by Country

The average import price for fully or partly automatic electric machines for arc welding of metals stood at $X per unit in 2022, surging by 32% against the previous year. Overall, the import price posted a significant expansion. The pace of growth was the most pronounced in 2017 an increase of 84%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+38.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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