Philippines: Off-Highway Dumper Market 2024

Off-Highway Dumper Market Size in the Philippines

The Philippine off-highway dumper market declined to $X in 2021, which is down by -13.3% 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). Over the period under review, consumption saw a deep contraction. Off-highway dumper consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Off-Highway Dumper Exports

Exports from the Philippines

In 2021, shipments abroad of dumpers for off-highway use decreased by -88.1% to X units, falling for the second year in a row after four years of growth. Overall, exports continue to indicate a sharp curtailment. The pace of growth was the most pronounced in 2016 with an increase of 377%. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, off-highway dumper exports declined significantly to $X in 2021. Over the period under review, exports faced a abrupt downturn. The growth pace was the most rapid in 2016 when exports increased by 384% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X units) was the main destination for off-highway dumper exports from the Philippines, accounting for a 61% share of total exports. Moreover, off-highway dumper exports to Vietnam exceeded the volume sent to the second major destination, Japan (X units), threefold. The third position in this ranking was taken by the United Arab Emirates (X units), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam stood at +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+10.2% per year) and the United Arab Emirates (-33.0% per year).

In value terms, the largest markets for off-highway dumper exported from the Philippines were Vietnam ($X), the United Arab Emirates ($X) and Papua New Guinea ($X), with a combined 94% share of total exports.

Vietnam, with a CAGR of +0.8%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average off-highway dumper export price amounted to $X per unit, approximately equating the previous year. In general, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, off-highway dumper export price decreased by -9.3% against 2018 indices. The pace of growth appeared the most rapid in 2014 an increase of 32% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+80.4%), while the prices for the other major destinations experienced more modest paces of growth.

Off-Highway Dumper Imports

Imports into the Philippines

In 2021, the amount of dumpers for off-highway use imported into the Philippines reduced notably to X units, which is down by -20.5% compared with the previous year. Overall, imports faced a abrupt curtailment. The pace of growth appeared the most rapid in 2014 when imports increased by 28%. Imports peaked at X units in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, off-highway dumper imports shrank to $X in 2021. In general, imports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2014 with an increase of 22% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Japan (X units) constituted the largest off-highway dumper supplier to the Philippines, with a 54% share of total imports. Moreover, off-highway dumper imports from Japan exceeded the figures recorded by the second-largest supplier, Sweden (X units), sevenfold. India (X units) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume from Japan amounted to -10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-0.5% per year) and India (-5.7% per year).

In value terms, Japan ($X) constituted the largest supplier of dumpers for off-highway use to the Philippines, comprising 56% of total imports. The second position in the ranking was taken by Sweden ($X), with an 8.3% share of total imports. It was followed by India, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value from Japan totaled -6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-3.1% per year) and India (-9.1% per year).

Import Prices by Country

In 2021, the average off-highway dumper import price amounted to $X per unit, rising by 15% against the previous year. In general, the import price continues to indicate a pronounced increase. The pace of growth was the most pronounced in 2017 an increase of 102% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Norway ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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