Philippines: Mobile Lifting Frame Market 2024

Mobile Lifting Frame Market Size in the Philippines

The Philippine mobile lifting frame market reduced notably to $X in 2021, with a decrease of -40.1% against the previous year. Overall, consumption continues to indicate a abrupt setback. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Mobile Lifting Frame Production in the Philippines

In value terms, mobile lifting frame production soared to $X in 2021 estimated in export price. In general, production, however, continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 67% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Mobile Lifting Frame Exports

Exports from the Philippines

In 2019, approx. X units of mobile lifting frames on tyres and straddle carriers were exported from the Philippines; which is down by -12.7% against the year before. Overall, exports, however, recorded significant growth. The smallest decline of -5.7% was in 2013. The exports peaked at X units in 2018, and then shrank in the following year.

In value terms, mobile lifting frame exports fell to $X in 2019. Over the period under review, exports, however, enjoyed a significant increase. The exports peaked at $X in 2018, and then fell in the following year.

Exports by Country

China (X units) was the main destination for mobile lifting frame exports from the Philippines, accounting for a 67% share of total exports. Moreover, mobile lifting frame exports to China exceeded the volume sent to the second major destination, the United States (X units), twofold.

From 2012 to 2019, the average annual growth rate of volume to China was relatively modest.

In value terms, China ($X) emerged as the key foreign market for mobile lifting frames on tyres and straddle carriers exports from the Philippines, comprising 68% of total exports. The second position in the ranking was taken by the United States ($X), with a 32% share of total exports.

From 2012 to 2019, the average annual rate of growth in terms of value to China was relatively modest.

Export Prices by Country

The average mobile lifting frame export price stood at $X per unit in 2019, shrinking by -2.4% against the previous year. Overall, the export price, however, saw a slight increase. Over the period under review, the average export prices hit record highs at $X per unit in 2018, and then reduced slightly in the following year.

Average prices varied noticeably for the major overseas markets. In 2019, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to the United States totaled $X per unit.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-4.2%).

Mobile Lifting Frame Imports

Imports into the Philippines

In 2021, supplies from abroad of mobile lifting frames on tyres and straddle carriers decreased by -89.8% to X units for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of 5,266% against the previous year. Over the period under review, imports reached the peak figure at X units in 2020, and then plummeted in the following year.

In value terms, mobile lifting frame imports dropped notably to $X in 2021. Overall, imports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2019 with an increase of 4,745%. Over the period under review, imports hit record highs at $X in 2020, and then declined markedly in the following year.

Imports by Country

In 2021, Japan (X units) constituted the largest mobile lifting frame supplier to the Philippines, accounting for a 77% share of total imports. Moreover, mobile lifting frame imports from Japan exceeded the figures recorded by the second-largest supplier, Italy (X units), tenfold. The third position in this ranking was taken by China (X units), with a 5.4% share.

From 2012 to 2021, the average annual growth rate of volume from Japan totaled +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+44.8% per year) and China (-22.5% per year).

In value terms, Japan ($X) constituted the largest supplier of mobile lifting frames on tyres and straddle carriers to the Philippines, comprising 80% of total imports. The second position in the ranking was held by Italy ($X), with a 7.3% share of total imports. It was followed by China, with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan totaled +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+24.8% per year) and China (-25.2% per year).

Import Prices by Country

The average mobile lifting frame import price stood at $X per unit in 2021, declining by -2.8% against the previous year. Over the period under review, import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, mobile lifting frame import price decreased by -17.3% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 48%. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Japan ($X per unit) and India ($X per unit), while the price for Italy ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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