Philippines: Starter Motor Market 2024

Starter Motor Market Size in the Philippines

The Philippine starter motor market amounted to $X in 2022, stabilizing at the previous year. Overall, the total consumption indicated a strong 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 increased by X% against 2016 indices. Starter motor consumption peaked in 2022 and is likely to see steady growth in years to come.

Starter Motor Production in the Philippines

In value terms, starter motor production shrank modestly to $X in 2022 estimated in export price. In general, the total production indicated a pronounced increase 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 2019 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Starter motor production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Starter Motor Exports

Exports from the Philippines

Starter motor exports from the Philippines fell remarkably to X units in 2022, declining by X% against 2021 figures. In general, exports faced a abrupt contraction. The pace of growth appeared the most rapid in 2016 with an increase of X%. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, starter motor exports declined sharply to $X in 2022. Overall, exports saw a deep reduction. The most prominent rate of growth was recorded in 2016 when exports increased by X%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Japan (X units) was the main destination for starter motor exports from the Philippines, with a X% share of total exports. Moreover, starter motor exports to Japan exceeded the volume sent to the second major destination, Vietnam (X units), sevenfold. The third position in this ranking was taken by Hong Kong SAR (X units), with a X% share.

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

In value terms, Japan ($X) remains the key foreign market for starter motors and dual purpose starter generators exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

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

Export Prices by Country

The average starter motor export price stood at $X per unit in 2022, falling by X% against the previous year. In general, the export price showed a pronounced slump. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Thailand ($X per unit) and the United States ($X per unit), while the average price for exports to Japan ($X per unit) and Vietnam ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced a decline.

Starter Motor Imports

Imports into the Philippines

In 2022, imports of starter motors and dual purpose starter generators into the Philippines surged to X units, with an increase of X% on the previous year. Overall, total imports indicated a prominent expansion 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 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, starter motor imports expanded remarkably to $X in 2022. In general, imports showed a buoyant increase. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Japan (X units), China (X units) and the United States (X units) were the main suppliers of starter motor imports to the Philippines, together comprising X% of total imports. France, Singapore, the Netherlands, Canada, Germany, the UK, Mexico, Spain, India and Malaysia lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest starter motor suppliers to the Philippines were Japan ($X), China ($X) and the United States ($X), with a combined X% share of total imports. France, Singapore, the Netherlands, Canada, Germany, the UK, Mexico, Spain, India and Malaysia lagged somewhat behind, together comprising a further X%.

Mexico, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 starter motor import price amounted to $X per unit, dropping by X% against the previous year. In general, import price indicated strong growth from 2012 to 2022: its price 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, starter motor import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit, and then declined notably in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Malaysia ($X per unit) and India ($X per unit), while the price for Mexico ($X per unit) and Japan ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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