Philippines: Tow-Behind Air Compressor Market 2024

Tow-Behind Air Compressor Market Size in the Philippines

The Philippine tow-behind air compressor market soared to $X in 2022, rising by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Tow-Behind Air Compressor Production in the Philippines

In value terms, tow-behind air compressor production surged to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Tow-Behind Air Compressor Exports

Exports from the Philippines

After three years of growth, overseas shipments of air compressors mounted on a wheeled chassis for towing decreased by X% to X units in 2022. Overall, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked at X units in 2021, and then fell rapidly in the following year.

In value terms, tow-behind air compressor exports soared to $X in 2022. Over the period under review, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X units) was the main destination for tow-behind air compressor exports from the Philippines, accounting for a X% share of total exports. Moreover, tow-behind air compressor exports to Singapore exceeded the volume sent to the second major destination, the United States (X units), fivefold. The third position in this ranking was held by China (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Singapore amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and China (X% per year).

In value terms, the largest markets for tow-behind air compressor exported from the Philippines were China ($X), the United States ($X) and Singapore ($X), with a combined X% share of total exports.

China, with a CAGR of X%, 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 tow-behind air compressor export price amounted to $X per unit, surging by X% against the previous year. Over the period under review, the export price, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 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 the UK ($X per unit), while the average price for exports to Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tow-Behind Air Compressor Imports

Imports into the Philippines

In 2022, the amount of air compressors mounted on a wheeled chassis for towing imported into the Philippines reduced sharply to X units, with a decrease of X% compared with the previous year. Over the period under review, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, tow-behind air compressor imports dropped rapidly to $X in 2022. In general, imports, however, enjoyed a temperate increase. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then fell dramatically in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of tow-behind air compressor to the Philippines, with a X% share of total imports. Moreover, tow-behind air compressor imports from China exceeded the figures recorded by the second-largest supplier, Israel (X units), sevenfold. Japan (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Israel (X.0% per year) and Japan (X% per year).

In value terms, the largest tow-behind air compressor suppliers to the Philippines were China ($X), Japan ($X) and Belgium ($X), with a combined X% share of total imports. The United States, Taiwan (Chinese) and Israel lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Israel, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average tow-behind air compressor import price stood at $X per unit in 2022, with an increase of X% against the previous year. Overall, the import price, however, showed a abrupt setback. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 Belgium ($X per unit), while the price for Israel ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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