Philippines Excavator Market Forecast to 2020 – Growing Construction Activities and Demand for Real Estate to Shape Future Potential: Ken Research REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit How the Philippines Excavator Market Is Positioned? The excavator market in the Philippines has witnessed overall high growth from 2010 to 2015, the however year 2014 witnessed the decline. Excavator use is observed to be low in the Philippines compared to many developing economies and market is undergoing development phase. The entire sales market was dominated by approximately ten players with a major revenue share of ~% held by two players in 2015. The entire Philippines’ excavator market is valued at USD ~ million recording a CAGR of ~% in 2010-2015. Most players are offering a nearly similar product but it is brand value, better service network, value-added services and presence of exclusive dealers, which is driving the growth of excavator sale in the Philippines. Market size by volume for new excavator sales in the Philippines was near ~ units in 2015. Manila constituting nearly ~% of total excavator sales in 2015 lead the market in sales by region. Crawler types of excavators were in maximum demand accounting for ~% sale in 2015. The construction and mining sector are major consumers of excavators and any positive development in these sectors directly promotes the rental and sales of excavators. In the recent decade, the government of the Philippines launched various projects to improve the neglected infrastructure sector and to ensure that its economy continues to grow. Market size by volume for new excavator sales in the Philippines was near ~ units in 2015, accounting for sales revenue of approximately USD ~ million. The rental excavator market in the Philippines had witnessed the presence of a few large players and many small players. The Philippines’ excavator market is also segmented based on engine rated power. Excavators with engine rated power in a range of 75-300hp have been recorded to hold the highest market share of ~%, by value in 2015. The belonging of the Philippines’ bestselling 20-ton operating capacity model excavator to the 75-300hp segment has helped the segment in gaining a dominant position. In 2015, Manila accounted for a maximum of sales constituting nearly ~% of total excavator sales in the Philippines. Most of the major companies that use excavators in their portfolio have their head offices in Manila. These companies place their order through an exclusive dealer of Manila branches accounting for a maximum of sales from Manila constituting nearly ~% of total excavator sales in the Philippines. How Sales Markert of New Excavators are Performing? Philippine’s excavator sales market is dominated by some of the leading global players like Hyundai, Volvo, Caterpillar, and others. Total sales revenue generated from the sale of excavators is USD ~ million in 2015 with ~% market share by revenue coming from the leading players. The total sales volume in the number of units is ~ in 2015. Sales revenue recorded positive growth at a CAGR of ~% from 2010 to 2015. However, in 2014, excavator sales reported a decline in the account of reduced construction growth and falling mining commodity demand from China. Growth in sales is expected to be driven by increased investment in infrastructure and real estate. It is also expected that rental market will grow at much higher rate, thus creating additional sales demand. The sales market is expected to grow at a CAGR of ~% in 2016-2020. Sale of Medium category excavator will continue its dominance but a share of compact excavators is expected to rise. The sale of wheel type excavator is also expected to increase as urbanization increases. What is Potential of Rental Market for Excavators in the Philippines? Most of the exclusive dealers of major brands in the excavator sales market in the Philippines are also in the rental market business. Some of the giant players operating in the excavators market area also observed to hold a significant share in the excavator rental companies. These companies generally have a fleet size of more than 70 excavators. These companies offer a wide variety of excavators as compared to independent rental companies, which help them in gaining a dominant position. Many small rental companies are also operating in the Philippines rental excavator market with the majority of them offering compact and low powered medium excavators. Excavator rental market generated revenue of USD ~ million in 2015 recording CAGR of ~% in between 2010 2015. The market is expected to grow at a value of USD ~ million with its share in total revenue increasing from ~% in 2015 to ~% in 2020. The Decision Making Process to Purchase or rent in the Philippines excavator market Tenure of the job is estimated as the most important deciding factor for purchasing excavators in the Philippines. Companies with sound financials prefer to buy rather than rent if the tenure of the job is long enough. SME’s on another hand, prefer to rent. Other factors influencing the purchasing decision are brand value and usage, operation and maintenance cost, availability of service staff, cost of the machine, warranty, and resale value. The decision to rent a machine is primarily driven by usage time period, availability of machine with desired operating characteristic and rental terms and conditions including rent. Mining companies generally buy their machines and go under exclusive tailor-made maintenance programs to reduce downtime. They rent only for a specific use or for short periods. The majority of rental comes from small contractors who hire from small rental companies. Issues, challenges and growth drivers for the Philippines excavator market A major problem associated with the excavator market in the Philippines in the absence of any local player; no manufacturer has set up an excavator manufacturing unit in the Philippines owing to very low demand. Dependence on import exposes the industry to external factors which may affect availability and prices in case of external shock. Being an island nation is another problem associated with excavator sale and availability as shipping takes more time and it is a tedious mode of transport. The availability of a restricted number of models in ready stock further adds to the problems of consumers and suppliers in the Philippine’s excavators market. The construction and mining sector are major consumers of excavators and any positive development in these sectors directly promotes the rental and sales of excavators. New environmental regulation by the government and commitment to reducing GHG emission by 70.0% of the current level is also expected to attract many other projects in the energy and industry sector, boosting the use of excavators. Stable credit rating from credit rating agencies shows that government bonds will be stable which is a symbol of good growth and development and political stability in the country. This has a positive impact on the sale of excavators as it leads to increased investment in the country. How is the Competition Structured IN THE Philippines Excavator MARKET for sales? Philippines ‘ excavator market is dominated by a few large multinational players. These companies are offering a wide variety of products and services to customers. Hyundai Heavy Machineries was a leading player in the Philippines ‘ excavators market with a revenue share of ~% in 2015. The trust factor associated with the company is the major factor that has led to the growth of the market. The company has generated revenue of USD ~ Million in 2015 in overall Philippines excavator sales market Volvo Construction Equipment is the second-largest player in the Philippines with the revenue generation of USD ~ Million. The company has a strong brand name in the Philippines. Volvo is majorly focusing on innovation and research to introduce new innovative products as well as to offer rental services in the country. What are the Future Prospects of the Philippines Excavator market? Philippines Excavator Market will increase from USD ~ Million in 2015 to USD ~ Million in 2020, growing at a CAGR of ~% during the period. The market will be driven by the increased investment in infrastructure development by the government to sustain high GDP growth, especially inland air transport. Growth in services and the manufacturing sector has led to the rise of demand for office space and housing facilities with major demand coming in cities like Manila, Cebu, Cagayan de Oro, Surigao, and others. New environment regulatory norms are expected to phase out old machines creating additional demand for replacement. Being island nation tourism is expected to grow to create demand for extra hotel rooms and related facilities which will increase demand for construction machinery including excavators. In the future, it has been anticipated that the excavator sales market in the Philippines will continue its dominance but a share of the rental will increase from ~%in 2015 to ~% in 2020. The overall market for an excavator is expected to be USD ~ million in 2020. Key Factors Considered in the Report Philippines Excavator Market Size by Revenue, and Sales Volume How did the contract agreement work in Rental of the Philippines Excavator Market and future outlook? Decision Making Process for Purchasing and Renting Excavator in the Philippines. Pricing Analysis for Rental and Sales of Excavators in the Philippines Competitive Landscape of Major Players in the Philippines Excavators Market For More Information on the Report, click on the link below: https://www.kenresearch.com/manufacturing-and-construction/machinery-and-parts/philippines-excavator-market-report/42050-97.html Contact:- Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-124-4230204 Post Views: 19 Tags: Asia Excavator Market Size, Philippines Backhoe Excavator Sales, Philippines Competition Caterpillar Excavator, Philippines Construction equipment rental Market, Philippines Construction Machinery Market, Philippines Dragline Excavator Market, Philippines Excavator Market, Philippines Excavator Market Outlook 2020, Philippines Excavator Prices Growth, Philippines Excavator Rental Market, Philippines Heavy Equipment Market, Philippines Komatsu Business Growth, Philippines Mini Excavator Market, Philippines Power Shovel Excavator Industry, Philippines Volvo Construction Equipment Sales, Philippines Volvo Hyundai Excavator Market Share
