Philippines: Full-Rotation Excavator Market 2024

Full-Rotation Excavator Market Size in the Philippines

In 2021, the Philippine full-rotation excavator market increased by 61% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption recorded a strong increase. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Full-Rotation Excavator Exports

Exports from the Philippines

After two years of growth, shipments abroad of self-propelled full-rotation excavators and bulldozers decreased by -20% to X units in 2021. In general, exports saw a perceptible decrease. The pace of growth appeared the most rapid in 2014 when exports increased by 400% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, full-rotation excavator exports soared to $X in 2021. Over the period under review, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 903% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X units) was the main destination for full-rotation excavator exports from the Philippines, with a 75% share of total exports. Moreover, full-rotation excavator exports to Malaysia exceeded the volume sent to the second major destination, Taiwan (Chinese) (X units), threefold.

From 2013 to 2021, the average annual rate of growth in terms of volume to Malaysia was relatively modest.

In value terms, Malaysia ($X) emerged as the key foreign market for self-propelled full-rotation excavators and bulldozers exports from the Philippines, comprising 97% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 3.3% share of total exports.

From 2013 to 2021, the average annual growth rate of value to Malaysia was relatively modest.

Export Prices by Country

In 2021, the average full-rotation excavator export price amounted to $X per unit, jumping by 49% against the previous year. Overall, the export price saw significant growth. The pace of growth was the most pronounced in 2017 an increase of 322% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to Taiwan (Chinese) totaled $X per unit.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+104.1%), while the prices for the other major destinations experienced more modest paces of growth.

Full-Rotation Excavator Imports

Imports into the Philippines

After two years of decline, supplies from abroad of self-propelled full-rotation excavators and bulldozers increased by 44% to X units in 2021. Over the period under review, imports showed a significant expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 53%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, full-rotation excavator imports surged to $X in 2021. In general, imports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2015 when imports increased by 82%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest full-rotation excavator supplier to the Philippines, with a 54% share of total imports. Moreover, full-rotation excavator imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), threefold. The third position in this ranking was held by Japan (X units), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +49.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+33.4% per year) and Japan (+1.9% per year).

In value terms, China ($X), South Korea ($X) and Thailand ($X) appeared to be the largest full-rotation excavator suppliers to the Philippines, together comprising 78% of total imports. Japan, Indonesia, the Netherlands and Hong Kong SAR lagged somewhat behind, together accounting for a further 19%.

In terms of the main suppliers, Indonesia, with a CAGR of +83.0%, saw the highest growth rate of the value of imports, 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 full-rotation excavator import price amounted to $X per unit, picking up by 22% against the previous year. In general, the import price, however, showed a perceptible reduction. The pace of growth appeared the most rapid in 2013 an increase of 25% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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