Philippines: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in the Philippines

The Philippine fuel or lubricating pump market expanded modestly to $X in 2022, growing by X% against the previous year. Overall, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Production of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in the Philippines

In value terms, fuel or lubricating pump production expanded modestly to $X in 2022 estimated in export price. In general, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. Fuel or lubricating pump production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports from the Philippines

In 2022, fuel or lubricating pump exports from the Philippines contracted sharply to X units, which is down by X% against the previous year's figure. Over the period under review, exports faced a dramatic setback. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, fuel or lubricating pump exports contracted significantly to $X in 2022. In general, exports faced a dramatic descent. The growth pace was the most rapid in 2020 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X units), China (X units) and Thailand (X units) were the main destinations of fuel or lubricating pump exports from the Philippines, with a combined X% share of total exports. Australia, Iran, Hong Kong SAR, Indonesia, Vietnam and Malaysia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, Japan ($X) remains the key foreign market for fuel, lubricating or cooling-medium pumps for internal combustion engines exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with an X% share of total exports. It was followed by Hong Kong SAR, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

In 2022, the average fuel or lubricating pump export price amounted to $X per unit, surging by X% against the previous year. In general, the export price enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to Thailand ($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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports into the Philippines

In 2022, the amount of fuel, lubricating or cooling-medium pumps for internal combustion engines imported into the Philippines contracted slightly to X units, standing approx. at the previous year's figure. Over the period under review, total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, fuel or lubricating pump imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Japan (X units) and Vietnam (X units) were the main suppliers of fuel or lubricating pump imports to the Philippines, together accounting for X% of total imports.

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

In value terms, the largest fuel or lubricating pump suppliers to the Philippines were Japan ($X), China ($X) and Vietnam ($X), together accounting for X% of total imports.

In terms of the main suppliers, Vietnam, with a CAGR of X%, 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

In 2022, the average fuel or lubricating pump import price amounted to $X per unit, surging by X% against the previous year. Overall, the import price continues to indicate a resilient increase. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2019; however, from 2020 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 Germany ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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