Philippines - Gear Cutting, Gear Grinding or Gear Finishing Machines - Market Analysis, Forecast, Size, Trends and Insights
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Gear Cutting Machine Market Size in the Philippines
The Philippine gear cutting machine market contracted dramatically to $X in 2023, falling by X% against the previous year. Over the period under review, consumption, however, continues to indicate significant growth. Gear cutting machine consumption peaked at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.
Gear Cutting Machine Production in the Philippines
In value terms, gear cutting machine production expanded remarkably to $X in 2023 estimated in export price. Over the period under review, the total production indicated perceptible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the production volume increased by X%. Gear cutting machine production peaked at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.
Gear Cutting Machine Exports
Exports from the Philippines
For the third consecutive year, the Philippines recorded decline in shipments abroad of gear cutting, gear grinding or gear finishing machines, which decreased by X% to X units in 2021. Overall, exports saw a abrupt decrease. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.
In value terms, gear cutting machine exports totaled $X in 2021. In general, exports showed a abrupt decline. The growth pace was the most rapid in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.
Exports by Country
Hong Kong SAR (X units) was the main destination for gear cutting machine exports from the Philippines, accounting for a approx. X% share of total exports.
From 2012 to 2021, the average annual growth rate of volume to Hong Kong SAR was relatively modest.
From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR was relatively modest.
Export Prices by Country
The average gear cutting machine export price stood at $X per unit in 2021, remaining relatively unchanged against the previous year. Overall, the export price saw a remarkable increase. The pace of growth was the most pronounced in 2014 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for Hong Kong SAR.
From 2012 to 2021, the rate of growth in terms of prices for Japan amounted to X% per year.
Gear Cutting Machine Imports
Imports into the Philippines
In 2023, approx. X units of gear cutting, gear grinding or gear finishing machines were imported into the Philippines; with a decrease of X% against the year before. Overall, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Imports peaked at X units in 2019; however, from 2020 to 2023, imports remained at a lower figure.
In value terms, gear cutting machine imports reduced notably to $X in 2023. In general, imports recorded a abrupt slump. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2023, the growth of imports remained at a somewhat lower figure.
Imports by Country
In 2023, China (X units) constituted the largest gear cutting machine supplier to the Philippines, accounting for a X% share of total imports. Moreover, gear cutting machine imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), tenfold. Japan (X units) ranked third in terms of total imports with a X% share.
From 2012 to 2023, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Japan (X% per year).
In value terms, the largest gear cutting machine suppliers to the Philippines were Japan ($X), China ($X) and Taiwan (Chinese) ($X), together comprising X% of total imports.
Among the main suppliers, Taiwan (Chinese), with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.
Import Prices by Country
In 2023, the average gear cutting machine import price amounted to $X per unit, reducing by X% against the previous year. Overall, the import price recorded a precipitous slump. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
This report provides an in-depth analysis of the gear cutting machine market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 28412430 - Gear cutting, gear grinding or gear finishing machines, for working metals, metal carbides or cermets (excluding planing, s lotting and broaching machines)
Country coverage:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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