Philippines: Non-Electric Pulley Tackle Market 2025

Non-Electric Pulley Tackle Market Size in the Philippines

The Philippine non-electric pulley tackle market expanded to $X in 2022, surging by 2.7% against the previous year. In general, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.5% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Non-Electric Pulley Tackle Production in the Philippines

In value terms, non-electric pulley tackle production expanded significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 29%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Non-Electric Pulley Tackle Exports

Exports from the Philippines

In 2022, shipments abroad of pulley tackle and hoists, non-powered by electric motor increased by 1,794% to X units, rising for the second consecutive year after two years of decline. In general, exports enjoyed resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-electric pulley tackle exports surged to $X in 2022. Overall, exports, however, continue to indicate a deep downturn. The growth pace was the most rapid in 2021 when exports increased by 1,629%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

South Korea (X units), the Netherlands (X units) and Singapore (X units) were the main destinations of non-electric pulley tackle exports from the Philippines, with a combined 92% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +85.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-electric pulley tackle exported from the Philippines were the Netherlands ($X), Singapore ($X) and South Korea ($X), together comprising 95% of total exports.

Singapore, with a CAGR of +38.7%, recorded 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 2022, the average non-electric pulley tackle export price amounted to $X per unit, dropping by -48.2% against the previous year. Over the period under review, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2021 when the average export price increased by 184%. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 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 Singapore ($X per unit), while the average price for exports to South Korea ($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 the United States (+12.1%), while the prices for the other major destinations experienced a decline.

Non-Electric Pulley Tackle Imports

Imports into the Philippines

Non-electric pulley tackle imports into the Philippines contracted notably to X units in 2022, reducing by -15.6% compared with 2021 figures. In general, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2019 when imports increased by 130%. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, non-electric pulley tackle imports expanded to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 89%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Japan (X units) and Hong Kong SAR (X units) were the main suppliers of non-electric pulley tackle imports to the Philippines, together accounting for 95% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +29.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-electric pulley tackle suppliers to the Philippines were Japan ($X), China ($X) and Hong Kong SAR ($X), together accounting for 67% of total imports.

Among the main suppliers, China, with a CAGR of +13.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average non-electric pulley tackle import price amounted to $X per unit, picking up by 22% against the previous year. In general, the import price, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2018 when the average import price increased by 35% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 ($X per unit), while the price for Hong Kong SAR ($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 (-3.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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