Cranes; Tower Cranes Price in the Philippines - 2023
Contents:
- Cranes; Tower Cranes Price in the Philippines (CIF) - 2022
- Cranes; Tower Cranes Price in the Philippines (FOB) - 2022
- Cranes; Tower Cranes Imports in the Philippines
- Cranes; Tower Cranes Exports in the Philippines
Cranes; Tower Cranes Price in the Philippines (CIF) - 2022
In 2022, the average cranes; tower cranes import price amounted to $158,594 per unit, growing by 8.6% against the previous year. Overall, the import price showed buoyant growth. The growth pace was the most rapid in 2017 an increase of 36% against the previous year. Over the period under review, average import prices attained the peak figure at $164,892 per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.
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 Spain ($1,170,771 per unit), while the price for Saudi Arabia ($2,086 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+38.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Cranes; Tower Cranes Price in the Philippines (FOB) - 2022
In 2022, the average cranes; tower cranes export price amounted to $51,921 per unit, which is down by -22.1% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 818%. Over the period under review, the average export prices attained the peak figure at $141,258 per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($79,633 per unit), while the average price for exports to China stood at $50,782 per unit.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+12.8%).
Cranes; Tower Cranes Imports in the Philippines
For the third consecutive year, the Philippines recorded decline in supplies from abroad of cranes; tower craneses, which decreased by -2.9% to 67 units in 2022. Overall, imports faced a sharp downturn. Over the period under review, imports reached the peak figure at 145 units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, cranes; tower cranes imports rose rapidly to $11M in 2022. Over the period under review, imports continue to indicate a sharp slump. Over the period under review, imports reached the maximum at $24M in 2019; however, from 2020 to 2022, imports remained at a lower figure.
| Import of Cranes; Tower Cranes in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 17.9 | 7.5 | 4.7 | 6.2 | -29.8% |
| Spain | 1.7 | 1.5 | 1.6 | 1.5 | -4.1% |
| South Korea | 0.6 | 0.1 | 1.5 | 1.2 | 26.0% |
| Singapore | 1.8 | 0.3 | 0.7 | 0.6 | -30.7% |
| Saudi Arabia | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
| Ireland | N/A | N/A | N/A | N/A | 0% |
| Vietnam | 0.1 | N/A | N/A | N/A | 0% |
| Others | 1.7 | 1.7 | 1.4 | 1.1 | -13.5% |
| Total | 23.9 | 11.2 | 10.0 | 10.6 | -23.7% |
Top Suppliers of Cranes; Tower Cranes to the Philippines in 2022:
- China (33.0 units)
- Saudi Arabia (25.0 units)
- South Korea (2.0 units)
- Singapore (1.0 units)
- Vietnam (1.0 units)
- Ireland (1.0 units)
- Spain (1.0 units)
Cranes; Tower Cranes Exports in the Philippines
In 2022, approx. 2 units of cranes; tower craneses were exported from the Philippines; waning by -33.3% on the previous year's figure. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 200% against the previous year. As a result, the exports reached the peak of 3 units, and then reduced rapidly in the following year.
In value terms, cranes; tower cranes exports dropped dramatically to $104K in 2022. Over the period under review, exports saw a dramatic slump. The most prominent rate of growth was recorded in 2021 when exports increased by 2,503% against the previous year. Over the period under review, the exports attained the maximum at $224K in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
| Export of Cranes; Tower Cranes in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 217 | 7.3 | 187 | 97.6 | -23.4% |
| India | N/A | N/A | N/A | N/A | 0% |
| Others | 6.3 | 0.4 | 12.9 | 6.3 | 0.0% |
| Total | 224 | 7.7 | 200 | 104 | -22.6% |
Top Export Markets for Cranes; Tower Cranes from the Philippines in 2022:
- China (2.0 units)
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