Philippines: Market for Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps 2022

Market Size for Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps in the Philippines

In 2021, the Philippine market for hydraulic pumps (gear or vane) and other rotary positive displacement pumps decreased by -0.1% to $X, falling for the third consecutive year after two years of growth. Over the period under review, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -24.5% against 2018 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps in the Philippines

In value terms, production of hydraulic pumps (gear or vane) and other rotary positive displacement pumps rose rapidly to $X in 2021 estimated in export price. In general, production, however, enjoyed tangible growth. The growth pace was the most rapid in 2017 when the production volume increased by 106% against the previous year. Production of peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps

Exports from the Philippines

In 2021, exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps from the Philippines declined remarkably to X units, waning by -41% on the previous year's figure. In general, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2015 when exports increased by 2,291% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps shrank remarkably to $X in 2021. Over the period under review, exports saw a abrupt downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 1,584%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps from the Philippines, with a 94% share of total exports. Moreover, exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps to China exceeded the volume sent to the second major destination, Indonesia (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to China amounted to +54.6%.

In value terms, China ($X) emerged as the key foreign market for hydraulic pump (gear or vane) and other rotary positive displacement pump exports from the Philippines, comprising 72% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +27.0%.

Export Prices by Country

In 2021, the average export price for hydraulic pumps (gear or vane) and other rotary positive displacement pumps amounted to $X per unit, with a decrease of -74.1% against the previous year. Overall, the export price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 an increase of 88%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Indonesia ($X per unit), while the average price for exports to China totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+66.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps

Imports into the Philippines

In 2021, purchases abroad of hydraulic pumps (gear or vane) and other rotary positive displacement pumps decreased by -39.6% to X units, falling for the second consecutive year after two years of growth. Overall, imports, however, recorded prominent growth. The pace of growth was the most pronounced in 2016 when imports increased by 214% against the previous year. Over the period under review, imports of reached the peak figure at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, imports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps fell markedly to $X in 2021. Over the period under review, imports, however, enjoyed strong growth. The growth pace was the most rapid in 2013 with an increase of 375%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest hydraulic pump (gear or vane) and other rotary positive displacement pump supplier to the Philippines, accounting for a 77% share of total imports. Moreover, imports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. Italy (X units) ranked third in terms of total imports with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+8.6% per year) and Italy (+64.3% per year).

In value terms, the largest hydraulic pump (gear or vane) and other rotary positive displacement pump suppliers to the Philippines were China ($X), Japan ($X) and the United States ($X), with a combined 56% share of total imports. India, Italy, Taiwan (Chinese) and Indonesia lagged somewhat behind, together accounting for a further 6.1%.

Italy, with a CAGR of +54.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for hydraulic pumps (gear or vane) and other rotary positive displacement pumps stood at $X per unit in 2021, with an increase of 11% against the previous year. In general, import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for hydraulic pumps (gear or vane) and other rotary positive displacement pumps increased by +118.9% against 2016 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 90% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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