Philippines: Static Converter Market 2025

Static Converter Market Size in the Philippines

In 2021, the Philippine static converter market increased by 1.1% to $X, rising for the fourth consecutive year after two years of decline. In general, consumption, however, recorded a perceptible descent. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Static Converter Production in the Philippines

In value terms, static converter production rose sharply to $X in 2021 estimated in export price. In general, production, however, recorded a abrupt decrease. The growth pace was the most rapid in 2016 when the production volume increased by 35% against the previous year. Static converter production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Static Converter Exports

Exports from the Philippines

In 2021, shipments abroad of static converters increased by 20% to X units for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of 50%. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, static converter exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

China (X units), Japan (X units) and the United States (X units) were the main destinations of static converter exports from the Philippines, with a combined 89% share of total exports. Hong Kong SAR, Thailand, the Netherlands, the United Arab Emirates, Ireland, Taiwan (Chinese) and Malaysia lagged somewhat behind, together comprising a further 52%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ireland (with a CAGR of +42.5%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for static converters exports from the Philippines, comprising 45% of total exports. The second position in the ranking was taken by Japan ($X), with an 11% share of total exports. It was followed by the Netherlands, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-5.4% per year) and the Netherlands (-7.0% per year).

Export Prices by Country

In 2021, the average static converter export price amounted to $X per unit, jumping by 17% against the previous year. In general, the export price continues to indicate a significant increase. The pace of growth appeared the most rapid in 2019 an increase of 438% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Static Converter Imports

Imports into the Philippines

In 2021, purchases abroad of static converters decreased by -0.4% to X units, falling for the third year in a row after five years of growth. In general, imports saw a abrupt decrease. The pace of growth appeared the most rapid in 2018 with an increase of 53% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, static converter imports rose sharply to $X in 2021. Overall, imports, however, saw resilient growth. The growth pace was the most rapid in 2015 when imports increased by 85%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest static converter supplier to the Philippines, accounting for a 49% share of total imports. Moreover, static converter imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold. The third position in this ranking was taken by Hong Kong SAR (X units), with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+19.0% per year) and Hong Kong SAR (-6.6% per year).

In value terms, China ($X) constituted the largest supplier of static converters to the Philippines, comprising 48% of total imports. The second position in the ranking was taken by Japan ($X), with a 9.7% share of total imports. It was followed by Hong Kong SAR, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +24.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+23.3% per year) and Hong Kong SAR (+10.5% per year).

Import Prices by Country

In 2021, the average static converter import price amounted to $X per unit, rising by 7.7% against the previous year. Overall, the import price recorded a significant expansion. The most prominent rate of growth was recorded in 2019 an increase of 227% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from India ($X per unit) and Indonesia ($X per unit), while the price for Singapore ($X per unit) and Malaysia ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+31.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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