Philippines: Vehicle Seat Market 2025

Vehicle Seat Market Size in the Philippines

The Philippine vehicle seat market reduced slightly to $X in 2022, declining by -3.9% against the previous year. In general, consumption, however, continues to indicate temperate growth. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Vehicle Seat Production in the Philippines

In value terms, vehicle seat production fell to $X in 2022 estimated in export price. In general, production, however, enjoyed perceptible growth. The most prominent rate of growth was recorded in 2017 with an increase of 172% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Vehicle Seat Exports

Exports from the Philippines

In 2022, after two years of decline, there was significant growth in overseas shipments of seats for motor vehicles, when their volume increased by 1,217% to X units. In general, exports, however, continue to indicate a noticeable descent. The pace of growth was the most pronounced in 2016 when exports increased by 15,110% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, vehicle seat exports surged to $X in 2022. Over the period under review, exports, however, recorded a deep setback. The pace of growth appeared the most rapid in 2016 when exports increased by 9,762%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units), Japan (X units) and China (X units) were the main destinations of vehicle seat exports from the Philippines, with a combined 80% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +34.5%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the United States ($X) and China ($X) constituted the largest markets for vehicle seat exported from the Philippines worldwide, together accounting for 87% of total exports.

In terms of the main countries of destination, China, with a CAGR of +25.0%, recorded the highest growth rate of the value of exports, 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 vehicle seat export price amounted to $X per unit, which is down by -16.9% against the previous year. Overall, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when the average export price increased by 64%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Indonesia ($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 Saudi Arabia (+598.3%), while the prices for the other major destinations experienced a decline.

Vehicle Seat Imports

Imports into the Philippines

In 2022, vehicle seat imports into the Philippines soared to X units, increasing by 37% on 2021. In general, imports showed a strong expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 99%. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, vehicle seat imports soared to $X in 2022. Overall, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by 54% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Japan (X units) and Thailand (X units) were the main suppliers of vehicle seat imports to the Philippines, together accounting for 69% of total imports. Ireland, the United States, the UK and South Korea lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +71.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vehicle seat suppliers to the Philippines were China ($X), Japan ($X) and Thailand ($X), with a combined 81% share of total imports. The United States, the UK, Ireland and South Korea lagged somewhat behind, together accounting for a further 11%.

The United States, with a CAGR of +62.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vehicle seat import price stood at $X per unit in 2022, declining by -3.1% against the previous year. Overall, the import price continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2020 when the average import price increased by 11%. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 Thailand ($X per unit), while the price for Ireland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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