Philippines: Market for Continuous-Action Elevators And Conveyors 2024

Market Size for Continuous-Action Elevators And Conveyors in the Philippines

The Philippine continuous-action elevators and conveyors market reduced to $X in 2022, which is down 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). Overall, consumption, however, showed significant growth. Continuous-action elevators and conveyors consumption peaked at $X in 2021, and then dropped in the following year.

Exports of Continuous-Action Elevators And Conveyors

Exports from the Philippines

Continuous-action elevators and conveyors exports from the Philippines surged to X units in 2022, rising by X% against 2021. Overall, exports, however, saw a deep reduction. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, continuous-action elevators and conveyors exports soared to $X in 2022. In general, exports enjoyed a moderate increase. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

China (X units), Singapore (X units) and Poland (X units) were the main destinations of continuous-action elevators and conveyors exports from the Philippines, together comprising X% of total exports. Papua New Guinea, Japan, Vietnam, Malaysia, Cambodia, Indonesia and Bangladesh lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Papua New Guinea (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for continuous-action elevators and conveyors exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Poland ($X), with a X% share of total exports. It was followed by Indonesia, with an X% share.

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

Export Prices by Country

In 2022, the average continuous-action elevators and conveyors export price amounted to $X per unit, with an increase of X% against the previous year. Over the period under review, the export price continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to Papua New Guinea ($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.

Imports of Continuous-Action Elevators And Conveyors

Imports into the Philippines

In 2022, after three years of growth, there was decline in purchases abroad of continuous-action elevators and conveyors, when their volume decreased by X% to X units. In general, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2021, and then fell in the following year.

In value terms, continuous-action elevators and conveyors imports reduced markedly to $X in 2022. Over the period under review, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main continuous-action elevators and conveyors supplier to the Philippines, with a X% share of total imports. It was followed by Japan (X units), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%.

In value terms, China ($X) constituted the largest supplier of continuous-action elevators and conveyors to the Philippines, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%.

Import Prices by Country

In 2022, the average continuous-action elevators and conveyors import price amounted to $X per unit, with a decrease of X% against the previous year. In general, the import price saw a abrupt decrease. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2015 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 Japan ($X per unit), while the price for China stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :