Report Update Nov 1, 2024

Philippines - Motor Vehicle Engines (Spark-Ignition) - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Motor Vehicle Engine Market 2024

Motor Vehicle Engine Market Size in the Philippines

In 2021, the Philippine motor vehicle engine market was finally on the rise to reach $X after three years of decline. In general, consumption, however, showed a sharp decline. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Motor Vehicle Engine Exports

Exports from the Philippines

For the seventh consecutive year, the Philippines recorded decline in overseas shipments of motor vehicle engines (spark-ignition), which decreased by -11.5% to X tons in 2021. Over the period under review, exports continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 167% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, motor vehicle engine exports contracted to $X in 2021. Overall, exports saw a dramatic setback. The most prominent rate of growth was recorded in 2014 when exports increased by 207% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) was the main destination for motor vehicle engine exports from the Philippines, with a 68% share of total exports. Moreover, motor vehicle engine exports to Vietnam exceeded the volume sent to the second major destination, Micronesia (X tons), threefold. India (X kg) ranked third in terms of total exports with a 2.5% share.

From 2012 to 2021, the average annual growth rate of volume to Vietnam totaled -26.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Micronesia (+42.6% per year) and India (0.0% per year).

In value terms, Vietnam ($X) remains the key foreign market for motor vehicle engines (spark-ignition) exports from the Philippines, comprising 62% of total exports. The second position in the ranking was taken by Micronesia ($X), with a 21% share of total exports. It was followed by Thailand, with a 3.2% share.

From 2012 to 2021, the average annual growth rate of value to Vietnam totaled -31.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Micronesia (+43.3% per year) and Thailand (-6.6% per year).

Export Prices by Country

The average motor vehicle engine export price stood at $X per ton in 2021, increasing by 2% against the previous year. In general, the export price, however, recorded a deep reduction. The growth pace was the most rapid in 2014 when the average export price increased by 15% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per ton), while the average price for exports to India ($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 Thailand (+7.1%), while the prices for the other major destinations experienced mixed trend patterns.

Motor Vehicle Engine Imports

Imports into the Philippines

After three years of decline, supplies from abroad of motor vehicle engines (spark-ignition) increased by 13% to X tons in 2021. In general, imports, however, recorded a sharp descent. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, motor vehicle engine imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2014 with an increase of 279% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Vietnam (X tons), Japan (X tons) and Indonesia (X tons) were the main suppliers of motor vehicle engine imports to the Philippines, together comprising 57% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +7.7%), while imports for the other leaders experienced a decline.

In value terms, Japan ($X), Indonesia ($X) and Malaysia ($X) were the largest motor vehicle engine suppliers to the Philippines, with a combined 55% share of total imports.

Malaysia, with a CAGR of +30.3%, recorded the highest growth rate of 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

In 2021, the average motor vehicle engine import price amounted to $X per ton, with an increase of 11% against the previous year. In general, the import price posted a significant increase. The most prominent rate of growth was recorded in 2014 when the average import price increased by 238%. The import price peaked in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+59.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for motor vehicle engines (spark-ignition) in the world?

The countries with the highest volumes of motor vehicle engine consumption in 2020 were China, Japan and the United States, together comprising 41% of global consumption. India, Mexico, Indonesia, Brazil, Russia, Italy, Turkey, Canada, South Korea and France lagged somewhat behind, together accounting for a further 34%.

What are the largest producers of motor vehicle engines (spark-ignition) in the world?

The countries with the highest volumes of motor vehicle engine production in 2020 were China, Japan and the United States, with a combined 42% share of global production. India, Mexico, Indonesia, Brazil, France, South Korea, Poland, Italy, the UK and Hungary lagged somewhat behind, together comprising a further 36%.

What are the leading suppliers of motor vehicle engines (spark-ignition) to the Philippines?

In value terms, Japan constituted the largest supplier of motor vehicle engine to the Philippines, comprising 64% of total imports. The second position in the ranking was occupied by the United Arab Emirates, with a 3.7% share of total imports. It was followed by South Korea, with a 3.7% share.

What are the leading importers of motor vehicle engines (spark-ignition) from the Philippines?

In value terms, Indonesia emerged as the key foreign market for motor vehicle engine exports from the Philippines, comprising 84% of total exports. The second position in the ranking was occupied by Micronesia, with an 11% share of total exports.

What is the average export price for motor vehicle engines (spark-ignition) in the Philippines?

The average motor vehicle engine export price stood at $6,647 per ton in 2020, falling by -32.7% against the previous year.

What is the average import price for motor vehicle engines (spark-ignition) in the Philippines?

The average motor vehicle engine import price stood at $3,689 per ton in 2020, which is down by -68.6% against the previous year.

This report provides an in-depth analysis of the motor vehicle engine market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 29101100 - Spark-ignition reciprocating internal combustion piston engines, for the vehicles of HS .87 (excluding motorcycles), of a cylinder capacity . 1 .000 cm.
Prodcom 29101200 - Spark-ignition reciprocating internal combustion piston engines, for the vehicles of HS .87 (excluding motorcycles), of a cylinder capacity > 1 .000 cm.

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023