Philippines: Transmission Apparatus Market 2024

Transmission Apparatus Market Size in the Philippines

The Philippine transmission apparatus market declined modestly to $X in 2021, almost unchanged from the previous year. In general, consumption continues to indicate a slight decline. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Transmission Apparatus Production in the Philippines

In value terms, transmission apparatus production totaled $X in 2021 estimated in export price. Over the period under review, production saw a abrupt slump. The most prominent rate of growth was recorded in 2018 when the production volume increased by 95%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Transmission Apparatus Exports

Exports from the Philippines

In 2021, overseas shipments of transmission apparatus incorporating reception apparatus were finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, saw a sharp decrease. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, transmission apparatus exports soared to $X in 2021. Overall, exports, however, saw a sharp decrease. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for transmission apparatus exports from the Philippines, accounting for a 80% share of total exports. Moreover, transmission apparatus exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), more than tenfold. The third position in this ranking was held by Singapore (X tons), with a 2.1% share.

From 2017 to 2021, the average annual growth rate of volume to the United States totaled -31.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-40.0% per year) and Singapore (-61.1% per year).

In value terms, the United States ($X) remains the key foreign market for transmission apparatus incorporating reception apparatus exports from the Philippines, comprising 74% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with an 8.8% share of total exports. It was followed by Canada, with a 6.1% share.

From 2017 to 2021, the average annual rate of growth in terms of value to the United States totaled -47.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-69.2% per year) and Canada (-59.8% per year).

Export Prices by Country

In 2021, the average transmission apparatus export price amounted to $X per ton, surging by 4.1% against the previous year. Overall, the export price, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2018 an increase of 17% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 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 Hong Kong SAR ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2017 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+54.1%), while the prices for the other major destinations experienced mixed trend patterns.

Transmission Apparatus Imports

Imports into the Philippines

Transmission apparatus imports into the Philippines reduced dramatically to X tons in 2021, dropping by -16.3% compared with the previous year's figure. Overall, imports continue to indicate a precipitous decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 19% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, transmission apparatus imports rose markedly to $X in 2021. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 8.9%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of transmission apparatus to the Philippines, with a 63% share of total imports. Moreover, transmission apparatus imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), fourfold. The United States (X tons) ranked third in terms of total imports with an 11% share.

From 2017 to 2021, the average annual rate of growth in terms of volume from China totaled -13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-30.0% per year) and the United States (+8.3% per year).

In value terms, China ($X), Singapore ($X) and the United States ($X) were the largest transmission apparatus suppliers to the Philippines, together comprising 84% of total imports.

Singapore, with a CAGR of +9.6%, recorded the highest growth rate of 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 transmission apparatus import price stood at $X per ton in 2021, rising by 26% against the previous year. Overall, the import price recorded significant growth. The most prominent rate of growth was recorded in 2018 when the average import price increased by 173% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2017 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+56.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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