Report Update Nov 1, 2024

Philippines - Hydraulic Jacks and Hoists for Raising Vehicles - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Hydraulic Jack Market 2024

Hydraulic Jack Market Size in the Philippines

In 2022, the Philippine hydraulic jack market increased by 95% to $X, rising for the third consecutive year after two years of decline. In general, consumption saw prominent growth. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Hydraulic Jack Exports

Exports from the Philippines

In 2022, shipments abroad of hydraulic jacks and hoists for raising vehicles increased by 4.9% to X units for the first time since 2019, thus ending a two-year declining trend. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 38,637% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, hydraulic jack exports shrank significantly to $X in 2022. Overall, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 29,727%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X units) was the main destination for hydraulic jack exports from the Philippines, with a 71% share of total exports. Moreover, hydraulic jack exports to China exceeded the volume sent to the second major destination, Malaysia (X units), fourfold. The third position in this ranking was held by Japan (X units), with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +87.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+42.1% per year) and Japan (+50.2% per year).

In value terms, China ($X) emerged as the key foreign market for hydraulic jacks and hoists for raising vehicles exports from the Philippines, comprising 46% of total exports. The second position in the ranking was held by Malaysia ($X), with a 19% share of total exports. It was followed by Japan, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +76.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+14.4% per year) and Japan (+54.3% per year).

Export Prices by Country

In 2022, the average hydraulic jack export price amounted to $X per unit, falling by -30.5% against the previous year. In general, the export price saw a deep reduction. The growth pace was the most rapid in 2019 when the average export price increased by 58%. 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 Japan ($X per unit), while the average price for exports to China ($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 Pakistan (+79.7%), while the prices for the other major destinations experienced more modest paces of growth.

Hydraulic Jack Imports

Imports into the Philippines

In 2022, purchases abroad of hydraulic jacks and hoists for raising vehicles increased by 135% to X units, rising for the third year in a row after two years of decline. Overall, imports enjoyed strong growth. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, hydraulic jack imports shrank to $X in 2022. In general, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 90% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X units), China (X units) and Malaysia (X units) were the main suppliers of hydraulic jack imports to the Philippines, together accounting for 94% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +40.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Malaysia ($X) were the largest hydraulic jack suppliers to the Philippines, together comprising 74% of total imports.

Japan, with a CAGR of +25.4%, 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

In 2022, the average hydraulic jack import price amounted to $X per unit, falling by -60.2% against the previous year. Over the period under review, the import price showed a noticeable decline. The most prominent rate of growth was recorded in 2018 when the average import price increased by 336%. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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 Malaysia ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for hydraulic jacks and hoists for raising vehicles in the world?

The countries with the highest volumes of in 2021 were China, the United States and Nigeria, with a combined 44% share of global consumption.

What are the largest producers of hydraulic jacks and hoists for raising vehicles in the world?

China remains the largest hydraulic jack producing country worldwide, accounting for 65% of total volume. Moreover, hydraulic jack production in China exceeded the figures recorded by the second-largest producer, India, eightfold. The third position in this ranking was occupied by Japan, with a 4.2% share.

What are the leading suppliers of hydraulic jacks and hoists for raising vehicles to the Philippines?

In value terms, China constituted the largest supplier of hydraulic jack to the Philippines, comprising 47% of total imports. The second position in the ranking was occupied by Japan, with a 12% share of total imports. It was followed by Thailand, with a 6.3% share.

What are the leading importers of hydraulic jacks and hoists for raising vehicles from the Philippines?

In value terms, the largest markets for hydraulic jack exported from the Philippines were Vietnam and Malaysia.

What is the average export price for hydraulic jacks and hoists for raising vehicles in the Philippines?

In 2021, the average hydraulic jack export price amounted to $49 per unit, picking up by 73% against the previous year.

What is the average import price for hydraulic jacks and hoists for raising vehicles in the Philippines?

In 2021, the average hydraulic jack import price amounted to $29 per unit, shrinking by -5.2% against the previous year.

This report provides an in-depth analysis of the hydraulic jack market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28221350 - Hydraulic jacks and hoists for raising vehicles (excluding those for use in garages)

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023