Philippines: Loading Machinery Market 2024

Loading Machinery Market Size in the Philippines

The Philippine loading machinery market reduced to $X in 2022, standing approx. at the previous year. Overall, consumption, however, showed resilient growth. Loading machinery consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Loading Machinery Production in the Philippines

In value terms, loading machinery production reduced modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate strong growth. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Loading machinery production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Loading Machinery Exports

Exports from the Philippines

After two years of growth, overseas shipments of lifting, handling, loading or unloading machinery decreased by X% to X units in 2022. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, loading machinery exports shrank remarkably to $X in 2022. Overall, exports saw a abrupt decline. The growth pace was the most rapid in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X units), Indonesia (X units) and China (X units) were the main destinations of loading machinery exports from the Philippines, with a combined X% share of total exports. Norway, Germany, Taiwan (Chinese) and Singapore lagged somewhat behind, together accounting for a further X%.

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

In value terms, China ($X), Japan ($X) and Indonesia ($X) constituted the largest markets for loading machinery exported from the Philippines worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, Indonesia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average loading machinery export price stood at $X per unit in 2022, growing by X% against the previous year. In general, the export price, however, continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Germany ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Loading Machinery Imports

Imports into the Philippines

For the third consecutive year, the Philippines recorded growth in overseas purchases of lifting, handling, loading or unloading machinery, which increased by X% to X units in 2022. Over the period under review, imports continue to indicate a remarkable increase. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, loading machinery imports dropped to $X in 2022. In general, imports saw a prominent increase. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

Taiwan (Chinese) (X units), China (X units) and Japan (X units) were the main suppliers of loading machinery imports to the Philippines, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Taiwan (Chinese) ($X) were the largest loading machinery suppliers to the Philippines, with a combined X% share of total imports. Singapore and the United States lagged somewhat behind, together comprising a further X%.

Singapore, with a CAGR of X%, saw the highest rates of growth with regard to 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 loading machinery import price stood at $X per unit in 2022, declining by X% against the previous year. Overall, the import price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2015 an increase of X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :