Report Update: May 1, 2024

Philippines - Lifting Equipment - Market Analysis, Forecast, Size, Trends And Insights

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Lifting Equipment Price in the Philippines - 2023

Lifting Equipment Price in the Philippines (CIF) - 2022

In 2022, the average lifting equipment import price amounted to $228,234 per unit, declining by -53.7% against the previous year. In general, the import price recorded a pronounced contraction. The growth pace was the most rapid in 2013 when the average import price increased by 444%. As a result, import price reached the peak level of $1,842,309 per unit. From 2014 to 2022, the average 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 Japan ($339,853 per unit), while the price for Belgium ($782 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (-6.3%), while the prices for the other major suppliers experienced a decline.

Lifting Equipment Price in the Philippines (FOB) - 2022

In 2022, the average lifting equipment export price amounted to $1,116 per unit, which is down by -27.5% against the previous year. In general, the export price faced a dramatic contraction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 3.8%. The export price peaked at $14,602 per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Japan ($4,851 per unit), while the average price for exports to the United Arab Emirates ($630 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 Indonesia (+0.8%), while the prices for the other major destinations experienced a decline.

Lifting Equipment Imports in the Philippines

In 2022, the amount of lifting equipment imported into the Philippines dropped sharply to 13 units, reducing by -31.6% on the previous year. Overall, imports saw a precipitous curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 19% against the previous year. Imports peaked at 28 units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, lifting equipment imports dropped dramatically to $3M in 2022. In general, imports recorded a precipitous setback. The pace of growth appeared the most rapid in 2021 when imports increased by 18%. Imports peaked at $16M in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Import of Lifting Equipment in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	11.2	0.7	0.3	1.7	-46.7%
Japan	3.3	5.6	7.8	0.5	-46.7%
Austria	0.2	0.2	0.2	0.1	-20.6%
Belgium	N/A	N/A	N/A	N/A	0%
Poland	0.1	N/A	N/A	N/A	0%
United Arab Emirates	N/A	N/A	N/A	N/A	0%
Netherlands	N/A	N/A	N/A	N/A	0%
Others	1.7	1.3	0.9	0.7	-25.6%
Total	16.5	7.8	9.3	3.0	-43.3%

Top Suppliers of Lifting Equipment to the Philippines in 2022:

China (6.0 units)
Japan (2.0 units)
Netherlands (1.0 units)
United Arab Emirates (1.0 units)
Austria (1.0 units)
Belgium (1.0 units)

Lifting Equipment Exports in the Philippines

In 2022, approx. 424 units of lifting equipment were exported from the Philippines; growing by 11% against 2021. Over the period under review, exports, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2021 with an increase of 87% against the previous year. The exports peaked at 650 units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, lifting equipment exports fell notably to $473K in 2022. Overall, exports, however, showed a dramatic decrease. The pace of growth appeared the most rapid in 2021 with an increase of 66%. The exports peaked at $1.5M in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Export of Lifting Equipment in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Singapore	539	167	333	277	-19.9%
Hong Kong SAR	643	122	130	99.6	-46.3%
Japan	84.6	26.2	52.2	43.4	-19.9%
United Arab Emirates	102	32.0	53.3	37.1	-28.6%
Indonesia	18.4	6.1	17.0	11.8	-13.8%
Others	93.9	2.8	4.4	4.8	-62.9%
Total	1,481	356	590	473	-31.6%

Top Export Markets for Lifting Equipment from the Philippines in 2022:

Singapore (262.0 units)
Hong Kong SAR (77.0 units)
United Arab Emirates (59.0 units)
Indonesia (12.0 units)
Japan (9.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the lifting equipment 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 28221470 - Lifting equipment (excluding overhead travelling cranes, t ower, transporter, gantry, portal, bridge or pedestal jib cranes, mobile lifting frames or straddle carriers, selfpropelled machinery)

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