Philippines: Market for Pneumatic Or Hydraulic Hand Tools 2024

Market Size for Pneumatic Or Hydraulic Hand Tools in the Philippines

In 2022, the Philippine market for pneumatic or hydraulic hand tools increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Pneumatic Or Hydraulic Hand Tools in the Philippines

In value terms, pneumatic or hydraulic hand tool production stood at $X in 2022 estimated in export price. In general, production continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Pneumatic or hydraulic hand tool production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Exports of Pneumatic Or Hydraulic Hand Tools

Exports from the Philippines

In 2022, approx. X units of pneumatic or hydraulic hand tools were exported from the Philippines; rising by X% compared with 2021. In general, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, pneumatic or hydraulic hand tool exports surged to $X in 2022. Over the period under review, exports, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X units) was the main destination for pneumatic or hydraulic hand tool exports from the Philippines, with a X% share of total exports. Moreover, pneumatic or hydraulic hand tool exports to Singapore exceeded the volume sent to the second major destination, Malaysia (X units), twofold. Japan (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Singapore totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Japan (X% per year).

In value terms, Singapore ($X) emerged as the key foreign market for pneumatic or hydraulic hand tools exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Singapore stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the average export price for pneumatic or hydraulic hand tools amounted to $X per unit, which is down by X% against the previous year. Overall, the export price recorded a deep slump. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 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 Australia ($X per unit), while the average price for exports to Micronesia ($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 Ethiopia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pneumatic Or Hydraulic Hand Tools

Imports into the Philippines

In 2022, imports of pneumatic or hydraulic hand tools into the Philippines surged to X units, picking up by X% compared with the previous year's figure. Overall, imports posted a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, pneumatic or hydraulic hand tool imports surged to $X in 2022. In general, imports showed a prominent increase. The most prominent rate of growth was recorded in 2013 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.

Imports by Country

In 2022, China (X units) constituted the largest pneumatic or hydraulic hand tool supplier to the Philippines, accounting for a X% share of total imports. Moreover, pneumatic or hydraulic hand tool imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a X% share.

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

In value terms, China ($X), Germany ($X) and Japan ($X) appeared to be the largest pneumatic or hydraulic hand tool suppliers to the Philippines, together accounting for X% of total imports. Taiwan (Chinese), Singapore, Australia and Switzerland lagged somewhat behind, together comprising a further X%.

Switzerland, with a CAGR of X%, recorded 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 import price for pneumatic or hydraulic hand tools stood at $X per unit in 2022, falling by X% against the previous year. Over the period under review, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pneumatic or hydraulic hand tool import price decreased by X% against 2020 indices. The growth pace was the most rapid in 2013 when the average import price increased by X%. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Switzerland ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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