Philippines: Positive Displacement Pump Market 2024

Positive Displacement Pump Market Size in the Philippines

In 2021, after two years of growth, there was significant decline in the Philippine positive displacement pump market, when its value decreased by -5.7% to $X. Over the period under review, consumption, however, saw a resilient increase. Over the period under review, the market attained the maximum level at $X in 2020, and then declined in the following year.

Positive Displacement Pump Production in the Philippines

In value terms, positive displacement pump production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, recorded resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 67%. Positive displacement pump production peaked at $X in 2020, and then dropped in the following year.

Positive Displacement Pump Exports

Exports from the Philippines

After two years of growth, overseas shipments of positive displacement pumps and hand pumps decreased by -71.7% to X units in 2021. Over the period under review, exports saw a abrupt decrease. The growth pace was the most rapid in 2017 when exports increased by 8,962% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, positive displacement pump exports contracted dramatically to $X in 2021. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 387% against the previous year. As a result, the exports attained the peak of $X, and then declined sharply in the following year.

Exports by Country

Taiwan (Chinese) (X units) was the main destination for positive displacement pump exports from the Philippines, accounting for a 50% share of total exports. Moreover, positive displacement pump exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, Australia (X units), fivefold. The third position in this ranking was taken by Japan (X units), with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume to Taiwan (Chinese) totaled -2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+100.2% per year) and Japan (-6.3% per year).

In value terms, the largest markets for positive displacement pump exported from the Philippines were South Africa ($X), Singapore ($X) and Thailand ($X), together accounting for 71% of total exports. Japan, Indonesia, Taiwan (Chinese) and Australia lagged somewhat behind, together comprising a further 16%.

Indonesia, with a CAGR of +88.7%, saw the highest rates of growth with regard to the value of exports, in terms of 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

In 2021, the average positive displacement pump export price amounted to $X per unit, increasing by 2.8% against the previous year. Over the period under review, the export price recorded a significant expansion. The growth pace was the most rapid in 2013 an increase of 8,083% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was South Africa ($X per unit), while the average price for exports to Taiwan (Chinese) ($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 Thailand (+100.0%), while the prices for the other major destinations experienced more modest paces of growth.

Positive Displacement Pump Imports

Imports into the Philippines

In 2021, supplies from abroad of positive displacement pumps and hand pumps increased by 23% to X units, rising for the third year in a row after two years of decline. In general, imports enjoyed a strong increase. The growth pace was the most rapid in 2020 when imports increased by 73% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, positive displacement pump imports skyrocketed to $X in 2021. Overall, imports enjoyed prominent growth. The pace of growth appeared the most rapid in 2017 when imports increased by 96%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of positive displacement pump to the Philippines, with a 83% share of total imports. Moreover, positive displacement pump imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. The third position in this ranking was taken by South Korea (X units), with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +19.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+29.5% per year) and South Korea (+29.3% per year).

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the largest positive displacement pump suppliers to the Philippines, together comprising 66% of total imports.

South Korea, with a CAGR of +25.0%, 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 2021, the average positive displacement pump import price amounted to $X per unit, with an increase of 6.9% against the previous year. Over the period under review, the import price, however, recorded a slight shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 107% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a 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 China (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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