Report Update Nov 1, 2024

Philippines - Test Benches - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Test Bench Market 2024

Test Bench Market Size in the Philippines

After three years of decline, the Philippine test bench market increased by 82% to $X in 2022. Overall, consumption continues to indicate a significant increase. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in years to come.

Test Bench Exports

Exports from the Philippines

In 2022, approx. X units of test benches were exported from the Philippines; jumping by 1,800% compared with the previous year. In general, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, test bench exports soared to $X in 2022. Over the period under review, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X units) was the main destination for test bench exports from the Philippines, with a 79% share of total exports. Moreover, test bench exports to Germany exceeded the volume sent to the second major destination, Malaysia (X units), fivefold.

From 2015 to 2022, the average annual growth rate of volume to Germany stood at +47.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+24.6% per year) and Japan (+10.4% per year).

In value terms, Germany ($X) emerged as the key foreign market for test benches exports from the Philippines, comprising 87% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 7.1% share of total exports.

From 2015 to 2022, the average annual growth rate of value to Germany stood at +42.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+31.1% per year) and Japan (+11.2% per year).

Export Prices by Country

The average test bench export price stood at $X per unit in 2022, with an increase of 244% against the previous year. Over the period under review, the export price showed a tangible expansion. The most prominent rate of growth was recorded in 2017 an increase of 559% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

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 Germany ($X per unit), while the average price for exports to Japan ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+1.2%), while the prices for the other major destinations experienced a decline.

Test Bench Imports

Imports into the Philippines

After two years of decline, purchases abroad of test benches increased by 105% to X units in 2022. Over the period under review, imports showed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 195%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, test bench imports skyrocketed to $X in 2022. In general, imports showed a resilient increase. The pace of growth appeared the most rapid in 2016 when imports increased by 206% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest test bench supplier to the Philippines, accounting for a 60% share of total imports. Moreover, test bench imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), fourfold. Poland (X units) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +41.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+28.6% per year) and Poland (+976.9% per year).

In value terms, the largest test bench suppliers to the Philippines were Malaysia ($X), Hong Kong SAR ($X) and China ($X), together accounting for 66% of total imports. Germany, Poland, Japan, the United States, India and Italy lagged somewhat behind, together comprising a further 26%.

Among the main suppliers, Poland, with a CAGR of +300.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average test bench import price stood at $X per unit in 2022, waning by -39.7% against the previous year. Overall, the import price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 76%. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for test benches in the world?

The countries with the highest volumes of test bench consumption in 2021 were China, South Africa and the United States, together accounting for 42% of global consumption. India, Germany, Japan, Russia, Brazil, Austria, Turkey, Mexico, Democratic Republic of the Congo and South Korea lagged somewhat behind, together accounting for a further 33%.

What are the largest producers of test benches in the world?

The countries with the highest volumes of test bench production in 2021 were China, Germany and the United States, with a combined 43% share of global production. These countries were followed by India, Japan, Russia, Austria, the Czech Republic, Brazil, Italy, South Korea, Mexico and Turkey, which together accounted for a further 34%.

What are the leading suppliers of test benches to the Philippines?

In value terms, Malaysia constituted the largest supplier of test bench to the Philippines, comprising 52% of total imports. The second position in the ranking was occupied by the United States, with a 12% share of total imports. It was followed by Italy, with a 9.8% share.

What are the leading importers of test benches from the Philippines?

In value terms, Paraguay emerged as the key foreign market for test bench exports from the Philippines, comprising 64% of total exports. The second position in the ranking was occupied by Germany, with a 30% share of total exports. It was followed by the United States, with a 2% share.

What is the average export price for test benches in the Philippines?

In 2021, the average test bench export price amounted to $10,169 per unit, rising by 20,297% against the previous year.

What is the average import price for test benches in the Philippines?

In 2021, the average test bench import price amounted to $4,551 per unit, picking up by 88% against the previous year.

This report provides an in-depth analysis of the test bench market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 26516620 - Test benches

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023