Philippines: Starter Battery Market 2024

Starter Battery Market Size in the Philippines

In 2022, after two years of growth, there was decline in the Philippine starter battery market, when its value decreased by -0.5% to $X. Over the period under review, consumption, however, saw strong growth. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Starter Battery Production in the Philippines

In value terms, starter battery production rose to $X in 2022 estimated in export price. Over the period under review, production enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 178% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Starter Battery Exports

Exports from the Philippines

In 2022, approx. X units of lead-acid accumulators for starting piston engines were exported from the Philippines; rising by 16% compared with the year before. Overall, exports continue to indicate strong growth. The pace of growth appeared the most rapid in 2017 when exports increased by 59% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, starter battery exports declined slightly to $X in 2022. The total export value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 35%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X units) was the main destination for starter battery exports from the Philippines, with a 61% share of total exports. Moreover, starter battery exports to Malaysia exceeded the volume sent to the second major destination, Australia (X units), twofold. The United States (X units) ranked third in terms of total exports with a 9% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia totaled +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+7.2% per year) and the United States (+0.5% per year).

In value terms, the largest markets for starter battery exported from the Philippines were Malaysia ($X), Australia ($X) and the United States ($X), with a combined 93% share of total exports.

Malaysia, with a CAGR of +5.9%, 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

In 2022, the average starter battery export price amounted to $X per unit, shrinking by -15.9% against the previous year. Overall, the export price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when the average export price increased by 37%. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was New Zealand ($X per unit), while the average price for exports to Malaysia ($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 the United States (-0.2%), while the prices for the other major destinations experienced a decline.

Starter Battery Imports

Imports into the Philippines

Starter battery imports into the Philippines rose slightly to X units in 2022, with an increase of 4.9% against 2021 figures. In general, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +30.3% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 67% against the previous year. As a result, imports attained the peak of X units; afterwards, it flattened through to 2022.

In value terms, starter battery imports shrank slightly to $X in 2022. Overall, imports saw prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 91% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), Indonesia (X units) and India (X units) were the main suppliers of starter battery imports to the Philippines, with a combined 73% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +71.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Indonesia ($X) and Thailand ($X) appeared to be the largest starter battery suppliers to the Philippines, together comprising 67% of total imports.

In terms of the main suppliers, India, with a CAGR of +72.4%, recorded the highest rates of growth with regard to the value of imports, 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 starter battery import price amounted to $X per unit, with a decrease of -9.1% against the previous year. Overall, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, starter battery import price decreased by -18.9% against 2020 indices. The most prominent rate of growth was recorded in 2016 an increase of 46%. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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