Philippines: Market for Motorcycles, Scooters and Side-Cars 2024

Market Size for Motorcycles, Scooters and Side-Cars in the Philippines

The Philippine motorcycle, scooter and side-car market skyrocketed to $X in 2022, picking up by X% 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 resilient expansion. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in the immediate term.

Exports of Motorcycles, Scooters and Side-Cars

Exports from the Philippines

In 2022, approx. X units of motorcycles, scooters and side-cars were exported from the Philippines; waning by X% against 2021. Overall, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked at X units in 2021, and then contracted markedly in the following year.

In value terms, motorcycle, scooter and side-car exports dropped sharply to $X in 2022. Over the period under review, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2021, and then fell remarkably in the following year.

Exports by Country

China (X units), Thailand (X units) and Vietnam (X units) were the main destinations of motorcycle, scooter and side-car exports from the Philippines, together accounting for X% of total exports. New Zealand, Indonesia, India and Malaysia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for motorcycle, scooter and side-car exported from the Philippines were China ($X), Thailand ($X) and Vietnam ($X), together comprising X% of total exports. Indonesia, Malaysia, New Zealand and India lagged somewhat behind, together comprising a further X%.

Indonesia, with a CAGR of X%, recorded 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 motorcycle, scooter and side-car export price amounted to $X per unit, with an increase of X% against the previous year. In general, the export price showed buoyant growth. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to India ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Motorcycles, Scooters and Side-Cars

Imports into the Philippines

In 2022, supplies from abroad of motorcycles, scooters and side-cars increased by X% to X units, rising for the second consecutive year after four years of decline. In general, imports saw resilient growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, motorcycle, scooter and side-car imports rose rapidly to $X in 2022. Overall, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 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 the immediate term.

Imports by Country

In 2022, Indonesia (X units) constituted the largest supplier of motorcycle, scooter and side-car to the Philippines, with a X% share of total imports. Moreover, motorcycle, scooter and side-car imports from Indonesia exceeded the figures recorded by the second-largest supplier, India (X units), sevenfold. China (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of motorcycles, scooters and side-cars to the Philippines, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and India (X% per year).

Import Prices by Country

The average motorcycle, scooter and side-car import price stood at $X per unit in 2022, dropping by X% against the previous year. Overall, the import price, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2017 an increase of X%. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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 Hong Kong SAR ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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