Philippines Cranes Market Outlook (2023-2029) | Growth, Industry, Revenue, COVID-19 IMPACT, Forecast, Share, Value, Companies, Size, Trends & Analysis

Philippines Cranes Market | Country-Wise Share and Competition Analysis

In the year 2021, China was the largest exporter in terms of value, followed by Germany. It has registered a growth of 15.39% over the previous year. While Germany registered a growth of 82.56% as compared to the previous year. In the year 2017, China was the largest exporter followed by Japan. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, the Philippines has a Herfindahl index of 3147 in 2017 which signifies high concentration also in 2021 it registered a Herfindahl index of 3099 which signifies high concentration in the market.

Topics Covered in the Philippines Cranes Market

The Philippines Cranes Market report thoroughly covers the market by product type and by end user. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Philippines Cranes Market Synopsis

The Philippines Cranes Market is expected to witness healthy growth owing to the surging demand from the manufacturing, construction, and transportation sectors. The government initiatives and policies towards the development of infrastructure in the country are providing an impetus for increasing demands for cranes. Moreover, rapid economic growth and rising disposable incomes have further augmented the demand for cranes in the Philippines. Furthermore, high investments from both the public and private sectors towards industrial development across the country are projected to drive the Philippines Cranes Market Growth over the forecast period. Consequently, manufacturers operating within this space are expected to increase their production capacities by investing more in research & development activities along with setting up new production facilities across various regions during the forecast period.

According to 6Wresearch, the Philippines Cranes Market is expected to grow steadily during the forecast period 2023-2029. The key drivers of the market are the rapid urbanization and infrastructure development taking place across the country. Additionally, there is a rising trend toward using advanced technology in crane operations. Companies are investing in innovative solutions such as remote-controlled cranes and automation systems to improve efficiency and safety on construction sites. However, the shortage of skilled crane operators who can operate heavy machinery effectively is expected to hinder the growth of this industry. Moreover, environmental concerns have also emerged as a significant challenge for the Philippines Cranes Industry. The need for sustainable practices and eco-friendly equipment has led to an increased demand for electric or hybrid-powered cranes that produce fewer emissions. Despite these challenges, ongoing government initiatives aim to accelerate infrastructure development in the country, which also drives demand for cranes in various sectors such as transportation, energy, and housing.

COVID-19 Influence on the Philippines Cranes Market

The COVID-19 pandemic has had an undeniable impact on the Philippines cranes market size with various implications. Lockdown measures introduced by the government to control the spread of the virus have caused disruption and uncertainty across industries. Construction projects and other infrastructure developments were put on hold, further driving down demand for cranes due to supply chain disruptions, labor shortages, and financial constraints. Travel restrictions and social distancing norms further hindered crane operations, leading to project timeline delays and higher costs.

Key players in the Philippines Cranes Market

The Philippines Cranes Market is a dynamic and competitive industry, driven by the demand for construction and infrastructure projects in the country. Several key players have emerged as major contributors to this market which includes;

• San Cranes and Hoists, Inc.
• Technocrane, Inc
• Linkbelt Construction Equipment Company
• Heli Crane Service
• Philippine Crane and Hoist, Inc.
• Asia Crane Corporation
• Pinnacle Industrial International Corp.

The Future of the Philippines Cranes Market

The future of the Philippines cranes market which is also a major part of the Asia Pacific Cranes Market is positive and several factors will shape its trajectory over the coming years. The construction industry in the country continues to expand, driven by infrastructure projects and urban development initiatives which creates a high demand for cranes in the forthcoming years. Furthermore, as technology advances and becomes more integrated into various industries, innovative solutions are being implemented within the crane sector. However, the lack of skilled labor for operating and maintaining cranes is expected to impede market development.  Moreover, training programs and educational initiatives will play a vital role in addressing this issue and equipping workers with the necessary skills.

Market Analysis by Product Type

According to Nikhil, Senior Research Analyst, 6Wresearch, mobile cranes are expected to witness significant growth in the market and it is also anticipated to hold the dominant position in the market owing to their flexibility and mobility which allow them to be easily transported to different job sites.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Philippines Cranes Market Outlook
• Market Size of Philippines Cranes Market, 2022
• Forecast of Philippines Cranes Market, 2029
• Historical Data and Forecast of Philippines Cranes Revenues & Volume for the Period 2019 - 2029
• Philippines Cranes Market Trend Evolution
• Philippines Cranes Market Drivers and Challenges
• Philippines Cranes Price Trends
• Philippines Cranes Porter's Five Forces
• Philippines Cranes Industry Life Cycle
• Historical Data and Forecast of Philippines Cranes Market Revenues & Volume By Product Type for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Cranes Market Revenues & Volume By Mobile for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Cranes Market Revenues & Volume By Fixed for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Cranes Market Revenues & Volume By Marine for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Cranes Market Revenues & Volume By End-User for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Cranes Market Revenues & Volume By Construction for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Cranes Market Revenues & Volume By Mining for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Cranes Market Revenues & Volume By Industrial for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Cranes Market Revenues & Volume By Oil & Gas for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Cranes Market Revenues & Volume By Others for the Period 2019 - 2029
• Philippines Cranes Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By End-User
• Philippines Cranes Top Companies Market Share
• Philippines Cranes Competitive Benchmarking By Technical and Operational Parameters
• Philippines Cranes Company Profiles
• Philippines Cranes Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product Type

• Mobile
• Fixed
• Marine

By End-User

• Construction
• Mining
• Industrial
• Oil & Gas
• Others