Philippines: Market for Motorcycles and Cycles With an Auxiliary Motor 2024

Market Size for Motorcycles and Cycles With an Auxiliary Motor in the Philippines

The Philippine market for motorcycles and cycles with an auxiliary motor was estimated at $X in 2021, remaining stable against the previous year. In general, consumption, however, recorded a buoyant expansion. Consumption of peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Production of Motorcycles and Cycles With an Auxiliary Motor in the Philippines

In value terms, production of motorcycles and cycles with an auxiliary motor contracted notably to $X in 2021 estimated in export price. In general, production, however, posted pronounced growth. The most prominent rate of growth was recorded in 2020 with an increase of 459%. As a result, production attained the peak level of $X, and then dropped rapidly in the following year.

Exports of Motorcycles and Cycles With an Auxiliary Motor

Exports from the Philippines

In 2021, the amount of motorcycles and cycles with an auxiliary motor exported from the Philippines totaled X units, remaining constant against 2020. Over the period under review, exports saw a significant increase. The growth pace was the most rapid in 2013 with an increase of 13,600%. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of motorcycles and cycles with an auxiliary motor stood at $X in 2021. In general, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 191,763% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

Indonesia (X units) was the main destination for exports of motorcycles and cycles with an auxiliary motor from the Philippines, with a 90% share of total exports. Moreover, exports of motorcycles and cycles with an auxiliary motor to Indonesia exceeded the volume sent to the second major destination, Thailand (X units), ninefold.

From 2012 to 2021, the average annual growth rate of volume to Indonesia was relatively modest.

From 2012 to 2021, the average annual rate of growth in terms of value to Thailand stood at -43.4%.

Export Prices by Country

In 2021, the average export price for motorcycles and cycles with an auxiliary motor amounted to $X per unit, approximately equating the previous year. Overall, the export price posted a resilient increase. The pace of growth was the most pronounced in 2013 an increase of 1,300% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to Indonesia amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (-3.2%).

Imports of Motorcycles and Cycles With an Auxiliary Motor

Imports into the Philippines

Imports of motorcycles and cycles with an auxiliary motor into the Philippines surged to X units in 2021, jumping by 266% against the previous year. Overall, imports, however, recorded a deep contraction. Imports peaked at X units in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, imports of motorcycles and cycles with an auxiliary motor surged to $X in 2021. Over the period under review, imports recorded a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Vietnam (X units) constituted the largest supplier of motorcycles and cycles with an auxiliary motor to the Philippines, accounting for a 83% share of total imports. Moreover, imports of motorcycles and cycles with an auxiliary motor from Vietnam exceeded the figures recorded by the second-largest supplier, China (X units), sevenfold. The third position in this ranking was taken by Japan (X units), with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Vietnam stood at +693.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-24.7% per year) and Japan (+38.7% per year).

In value terms, Vietnam ($X) constituted the largest supplier of motorcycles and cycles with an auxiliary motor to the Philippines, comprising 92% of total imports. The second position in the ranking was taken by Japan ($X), with a 3% share of total imports. It was followed by Canada, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Vietnam stood at +1,593.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+29.2% per year) and Canada (+208.8% per year).

Import Prices by Country

The average import price for motorcycles and cycles with an auxiliary motor stood at $X per unit in 2021, growing by 159% against the previous year. Overall, the import price posted a significant expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+111.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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