Philippines: Hydraulic Press Market 2024

Hydraulic Press Market Size in the Philippines

The Philippine hydraulic press market soared to $X in 2022, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a strong expansion. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Hydraulic Press Exports

Exports from the Philippines

In 2022, approx. X units of hydraulic presses for working metal were exported from the Philippines; jumping by X% against 2021. In general, exports showed buoyant growth. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, hydraulic press exports surged to $X in 2022. Overall, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Sweden (X units) was the main destination for hydraulic press exports from the Philippines, accounting for a X% share of total exports. Moreover, hydraulic press exports to Sweden exceeded the volume sent to the second major destination, Australia (X units), sevenfold.

From 2012 to 2022, the average annual growth rate of volume to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Papua New Guinea (X% per year).

In value terms, Papua New Guinea ($X) emerged as the key foreign market for hydraulic presses for working metal exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by Sweden ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Papua New Guinea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (X% per year) and Australia (X% per year).

Export Prices by Country

In 2022, the average hydraulic press export price amounted to $X per unit, picking up by X% against the previous year. Overall, the export price, however, showed a mild shrinkage. The pace of growth appeared the most rapid in 2017 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 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 Papua New Guinea ($X per unit), while the average price for exports to Sweden ($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 Taiwan (Chinese) (X%).

Hydraulic Press Imports

Imports into the Philippines

In 2022, imports of hydraulic presses for working metal into the Philippines skyrocketed to X units, rising by X% on 2021. Overall, imports posted a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, hydraulic press imports expanded significantly to $X in 2022. Over the period under review, imports showed a temperate increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main hydraulic press supplier to the Philippines, accounting for a X% share of total imports. Moreover, hydraulic press imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and the Netherlands (X% per year).

In value terms, China ($X) constituted the largest supplier of hydraulic presses for working metal to the Philippines, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with an X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and the Netherlands (X% per year).

Import Prices by Country

The average hydraulic press import price stood at $X per unit in 2022, falling by X% against the previous year. Over the period under review, the import price saw a deep setback. The pace of growth was the most pronounced in 2015 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 Japan ($X per unit), while the price for China ($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 a decline.

Source: IndexBox Platform

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