Philippines: Market for In-Hand Motor Grinders, Sanders And Planers 2024

Market Size for In-Hand Motor Grinders, Sanders And Planers in the Philippines

The Philippine market for in-hand motor grinders, sanders and planers skyrocketed to $X in 2021, jumping by 55% 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 continues to indicate a resilient expansion. Consumption of peaked in 2021 and is expected to retain growth in years to come.

Exports of In-Hand Motor Grinders, Sanders And Planers

Exports from the Philippines

In 2021, the amount of in-hand motor grinders, sanders and planers exported from the Philippines soared to X units, with an increase of 66% on the year before. In general, exports showed resilient growth. The most prominent rate of growth was recorded in 2015 when exports increased by 7,321%. Over the period under review, the exports of hit record highs at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of in-hand motor grinders, sanders and planers declined to $X in 2021. Overall, exports posted prominent growth. The growth pace was the most rapid in 2015 when exports increased by 5,051%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X units) was the main destination for exports of in-hand motor grinders, sanders and planers from the Philippines, accounting for a 56% share of total exports. Moreover, exports of in-hand motor grinders, sanders and planers to India exceeded the volume sent to the second major destination, Malaysia (X units), fourfold. The third position in this ranking was taken by China (X units), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to India was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+22.3% per year) and China (+213.7% per year).

In value terms, Malaysia ($X), India ($X) and China ($X) were the largest markets for electromechanical tools for working in the hand, with self-contained electric motor exported from the Philippines worldwide, together comprising 86% of total exports.

China, with a CAGR of +203.5%, 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 more modest paces of growth.

Export Prices by Country

The average export price for in-hand motor grinders, sanders and planers stood at $X per unit in 2021, waning by -47.8% against the previous year. In general, the export price saw a deep downturn. The pace of growth was the most pronounced in 2018 when the average export price increased by 160%. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per unit), while the average price for exports to Thailand ($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 Malaysia (+3.6%), while the prices for the other major destinations experienced a decline.

Imports of In-Hand Motor Grinders, Sanders And Planers

Imports into the Philippines

In 2021, after three years of decline, there was significant growth in supplies from abroad of in-hand motor grinders, sanders and planers, when their volume increased by 102% to X units. Over the period under review, imports recorded a remarkable increase. Imports peaked at X units in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of in-hand motor grinders, sanders and planers soared to $X in 2021. In general, imports posted a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of 73% against the previous year. Over the period under review, imports of hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of electromechanical tools for working in the hand, with self-contained electric motor to the Philippines, accounting for a 92% share of total imports. Moreover, imports of in-hand motor grinders, sanders and planers from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), more than tenfold. Japan (X units) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+149.3% per year) and Japan (-6.7% per year).

In value terms, China ($X) constituted the largest supplier of electromechanical tools for working in the hand, with self-contained electric motor to the Philippines, comprising 69% of total imports. The second position in the ranking was held by Japan ($X), with a 9.8% share of total imports. It was followed by Thailand, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+5.7% per year) and Thailand (+174.7% per year).

Import Prices by Country

In 2021, the average import price for in-hand motor grinders, sanders and planers amounted to $X per unit, reducing by -33.7% against the previous year. Over the period under review, the import price, however, recorded notable growth. The pace of growth was the most pronounced in 2018 when the average import price increased by 76% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Singapore (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :