Philippines: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in the Philippines

The Philippine market for vacuum pumps and air or gas compressors rose markedly to $X in 2022, increasing by 11% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Production of Vacuum Pumps and Air or Gas Compressors in the Philippines

In value terms, production of vacuum pumps and air or gas compressors expanded rapidly to $X in 2022 estimated in export price. Overall, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.4% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 50% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production of growth remained at a lower figure.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from the Philippines

In 2022, the amount of vacuum pumps and air or gas compressors exported from the Philippines reduced to X units, therefore, remained relatively stable against 2021 figures. Overall, exports saw a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 80% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of vacuum pumps and air or gas compressors rose significantly to $X in 2022. Over the period under review, exports, however, recorded a temperate increase. The most prominent rate of growth was recorded in 2013 with an increase of 105% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Japan (X units), the United States (X units) and the Netherlands (X units) were the main destinations of exports of vacuum pumps and air or gas compressors from the Philippines, with a combined 82% share of total exports. Russia, Singapore, the United Arab Emirates, Australia and South Korea lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +26.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for vacuum pumps and air or gas compressors exports from the Philippines, comprising 32% of total exports. The second position in the ranking was taken by Singapore ($X), with a 13% share of total exports. It was followed by Japan, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+28.5% per year) and Japan (-11.2% per year).

Export Prices by Country

The average export price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, picking up by 8.1% against the previous year. In general, the export price recorded a buoyant expansion. The growth pace was the most rapid in 2013 an increase of 171%. The export price peaked in 2022 and is expected to retain growth in the near future.

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 Singapore ($X per unit), while the average price for exports to Japan ($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 the United States (+18.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into the Philippines

In 2022, purchases abroad of vacuum pumps and air or gas compressors increased by 24% to X units, rising for the second year in a row after two years of decline. In general, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +38.1% against 2020 indices. The pace of growth was the most pronounced in 2016 when imports increased by 63% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, imports of vacuum pumps and air or gas compressors rose remarkably to $X in 2022. Over the period under review, imports recorded resilient growth. The pace of growth appeared the most rapid in 2016 with an increase of 47%. Over the period under review, imports of hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of vacuum pump and air or gas compressor to the Philippines, accounting for a 79% share of total imports. Moreover, imports of vacuum pumps and air or gas compressors from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. Singapore (X units) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2022, 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 (+13.9% per year) and Singapore (-2.9% per year).

In value terms, China ($X) constituted the largest supplier of vacuum pumps and air or gas compressors to the Philippines, comprising 46% of total imports. The second position in the ranking was held by Japan ($X), with a 15% share of total imports. It was followed by Singapore, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+10.4% per year) and Singapore (+2.0% per year).

Import Prices by Country

In 2022, the average import price for vacuum pumps and air or gas compressors amounted to $X per unit, waning by -15.2% against the previous year. Over the period under review, the import price, however, enjoyed a moderate expansion. The pace of growth appeared the most rapid in 2015 when the average import price increased by 72%. As a result, import price reached the peak level of $X per unit. From 2016 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 Indonesia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+15.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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