Philippines: Motor Vehicle Radiator Market 2025

Motor Vehicle Radiator Market Size in the Philippines

The Philippine motor vehicle radiator market expanded significantly to $X in 2022, with an increase of 7.3% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Motor Vehicle Radiator Production in the Philippines

In value terms, motor vehicle radiator production rose remarkably to $X in 2022 estimated in export price. Over the period under review, production posted a pronounced expansion. The pace of growth appeared the most rapid in 2015 with an increase of 150%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Motor Vehicle Radiator Exports

Exports from the Philippines

In 2022, exports of radiators for motor vehicles from the Philippines contracted markedly to X units, which is down by -32% on 2021 figures. Over the period under review, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 140,723% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, motor vehicle radiator exports reduced rapidly to $X in 2022. Overall, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 54,666% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X units) was the main destination for motor vehicle radiator exports from the Philippines, accounting for a 86% share of total exports. Moreover, motor vehicle radiator exports to Malaysia exceeded the volume sent to the second major destination, Thailand (X units), sevenfold.

From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at +158.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-17.7% per year) and Japan (-32.4% per year).

In value terms, Malaysia ($X) remains the key foreign market for radiators for motor vehicles exports from the Philippines, comprising 86% of total exports. The second position in the ranking was taken by Thailand ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Malaysia stood at +184.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-29.7% per year) and Japan (-37.0% per year).

Export Prices by Country

In 2022, the average motor vehicle radiator export price amounted to $X per unit, which is down by -5.5% against the previous year. Over the period under review, the export price recorded a perceptible decline. The pace of growth appeared the most rapid in 2019 an increase of 124% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to Thailand ($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 Malaysia (+10.4%), while the prices for the other major destinations experienced mixed trend patterns.

Motor Vehicle Radiator Imports

Imports into the Philippines

In 2022, overseas purchases of radiators for motor vehicles increased by 7.8% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, recorded a abrupt contraction. The growth pace was the most rapid in 2014 when imports increased by 103%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, motor vehicle radiator imports totaled $X in 2022. In general, imports posted a prominent increase. The pace of growth was the most pronounced in 2017 when imports increased by 268% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X units) constituted the largest supplier of motor vehicle radiator to the Philippines, with a 36% share of total imports. Moreover, motor vehicle radiator imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was held by Japan (X units), with a 17% share.

From 2012 to 2022, the average annual growth rate of volume from Thailand totaled +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.4% per year) and Japan (-22.6% per year).

In value terms, Thailand ($X) constituted the largest supplier of radiators for motor vehicles to the Philippines, comprising 36% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports. It was followed by Japan, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand amounted to +26.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+31.4% per year) and Japan (+4.9% per year).

Import Prices by Country

In 2022, the average motor vehicle radiator import price amounted to $X per unit, stabilizing at the previous year. Overall, the import price recorded significant growth. The pace of growth was the most pronounced in 2017 when the average import price increased by 222%. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Indonesia ($X per unit) and Japan ($X per unit), while the price for Singapore ($X per unit) and Thailand ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+35.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform