Philippines: Hydraulic Press Market 2024

Hydraulic Press Market Size in the Philippines

The Philippine hydraulic press market skyrocketed to $X in 2022, picking up by 83% 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 continues to indicate a significant increase. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in the near future.

Hydraulic Press Exports

Exports from the Philippines

For the fourth consecutive year, the Philippines recorded growth in overseas shipments of hydraulic presses for working metal, which increased by 125% to X units in 2022. In general, exports saw a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 200%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, hydraulic press exports surged to $X in 2022. Overall, exports continue to indicate a resilient increase. The growth pace was the most rapid in 2017 with an increase of 1,239% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Sweden (X units) was the main destination for hydraulic press exports from the Philippines, with a 78% share of total exports. Moreover, hydraulic press exports to Sweden exceeded the volume sent to the second major destination, Australia (X units), sevenfold.

From 2012 to 2022, the average annual growth rate of volume to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (0.0% per year) and Papua New Guinea (0.0% per year).

In value terms, Papua New Guinea ($X) emerged as the key foreign market for hydraulic presses for working metal exports from the Philippines, comprising 63% of total exports. The second position in the ranking was taken by Sweden ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Papua New Guinea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (0.0% per year) and Australia (0.0% per year).

Export Prices by Country

The average hydraulic press export price stood at $X per unit in 2022, with an increase of 109% against the previous year. In general, the export price, however, saw a slight contraction. The growth pace was the most rapid in 2017 when the average export price increased by 346%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Papua New Guinea ($X per unit), while the average price for exports to Sweden ($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 Taiwan (Chinese) (-12.1%).

Hydraulic Press Imports

Imports into the Philippines

In 2022, imports of hydraulic presses for working metal into the Philippines soared to X units, surging by 93% compared with the year before. Over the period under review, imports continue to indicate significant growth. The growth pace was the most rapid in 2014 with an increase of 459%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, hydraulic press imports rose notably to $X in 2022. Overall, imports showed a tangible expansion. The pace of growth appeared the most rapid in 2017 with an increase of 128% 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

In 2022, China (X units) was the main supplier of hydraulic press to the Philippines, with a 92% share of total imports. Moreover, hydraulic press imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +33.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+21.1% per year) and the Netherlands (+143.2% per year).

In value terms, China ($X) constituted the largest supplier of hydraulic presses for working metal to the Philippines, comprising 57% of total imports. The second position in the ranking was held by Japan ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +25.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-0.4% per year) and the Netherlands (+3.9% per year).

Import Prices by Country

The average hydraulic press import price stood at $X per unit in 2022, declining by -43.9% against the previous year. In general, the import price saw a deep downturn. The pace of growth appeared the most rapid in 2015 an increase of 85% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 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 Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-5.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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