After three years of growth, the Philippine crane market fell -X% to $X in 2020. During the period under review, however, there was a strong increase in consumption. In 2009, the growth rate was the fastest, and the market value increased by X% year-on-year. Crane consumption peaked at $X in 2019 before falling sharply the following year.
In 2020, approximately X cranes, mobile cranes were exported from the Philippines; an increase of X% over the previous year. During the period under review, exports showed steady growth. As a result, exports peaked and may continue to grow in the short term.
Crane exports surged to $X in 2020 by value. Overall, exports continued to show significant growth. In 2010, the growth rate was the fastest, with an increase of X% year-on-year. During the period under review, exports peaked at $X in 2014; however, from 2015 to 2020, exports failed to regain momentum.
China (unit X), United Arab Emirates (unit X) and Hong Kong SAR (unit X) were the main destinations for Philippine crane exports, together accounting for X% of total exports.
From 2007 to 2020, the largest increase was in Hong Kong SAR (+X% per annum), while the other leaders saw more modest growth in shipments.
In value terms, China ($X) emerged as the leading foreign market for Philippine crane exports, accounting for X% of total exports. In second place is Hong Kong Special Administrative Region ($X), which accounts for X% of total exports. It is followed by the United Arab Emirates with an X% share.
From 2007 to 2020, the average annual growth rate of value to China was relatively modest. Exports to other major destinations recorded the following average annual export growth rates: Hong Kong SAR (+X% per annum) and the United Arab Emirates (+X% per annum).
In 2020, overseas purchases of cranes, mobile cranes fell -X% to X units, the second consecutive year of decline after two years of growth. Overall, however, imports continued to grow significantly. The most significant growth rate occurred in 2009, when imports increased by X% year-on-year. Imports peaked at X units in 2018; however, from 2019 to 2020, imports decreased slightly.
In value terms, crane imports fell sharply to $X in 2020. But overall, imports have grown significantly. The growth rate was most pronounced in 2011, with a year-on-year increase of X%. During the period under review, imports peaked at $X in 2019, then declined rapidly the following year.
Japan (X units), China (X units) and Germany (X units) are the main suppliers of Philippine crane imports, together accounting for X% of total imports. This is followed by Italy, India, Taiwan (China) and South Korea, which further increased their purchases by a factor of X from 2007 to 2020, with the largest increase being India (+X% per annum), while other leaders The purchase volume of people is more moderate growth rate.
By value, China ($X), Japan ($X) and Germany ($X) are the largest crane suppliers to the Philippines, together accounting for X% of total imports. This is followed by Italy, South Korea, India and Taiwan (China), which collectively account for X terms of major suppliers, with India having the highest growth in import value during the review period, while sourcing as other leaders experienced a more moderate increase. pace of growth.
China, Japan and Germany appear to be the largest crane suppliers to the Philippines by value, accounting for 82% of total imports. Italy, South Korea, India and Taiwan) were slightly behind, with a total of 9.3%.
In value terms, China emerged as the main foreign market for Philippine crane exports, accounting for 48% of total exports. In second place is the Hong Kong Special Administrative Region, which accounted for 24% of total exports. It is followed by the United Arab Emirates with an 11% share.
The average export price of cranes in 2020 was US$13,230/unit, down -77.3% from the previous year.
The average import price of cranes in 2020 was US$15,523 per unit, a year-on-year increase of 7.9%.
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