Philippines Crawler Excavator Market Assessment & Forecast 2021-2027

The Philippines crawler excavator market to grow at a CAGR of 7.97% during the period 2021-2027. With the intense competition in technology and design, excavator makers are marketing their devices vigorously, focused on technologically innovative features and a wide variety of attachments.

 

PHILIPPINES CRAWLER EXCAVATOR MARKET INSIGHTS

Increasing government spending on infrastructure and other initiatives, the government is estimated to drive the market for crawler excavators in the Philippines.

With the increase in infrastructure projects and construction activities, the demand for small and medium excavators that can be used for digging, trenching, lifting, placement, landscaping is expected to be high in the market.

Philippines' crawler excavator market revenue by construction is expected to reach USD 180.8 million by 2027, will grow at a CAGR of 10.39% during the forecast period.

The potential growth of the Philippines crawler excavator market in the other sectors is majorly dependent on the demand for waste management solutions in the country.

 

PHILIPPINES CRAWLER EXCAVATOR MARKET - SEGMENTATION ANALYSIS

The share of small excavators is more significant compared to other types. It is expected to witness significant growth due to the increasing construction, infrastructure, and mining activities in the country.

Continuation of infrastructure projects delayed due to the COVID-19 pandemic is one of the major factors expected to boost the demand for medium excavators in the short term.

The Philippines' >201 hp crawler excavator market is expected to reach USD 184 million by 2027, growing at a CAGR of 7.30%.

 

VENDOR LANDSCAPE

Excavator manufacturers are entirely dependent on logistical operators and local distributors to bring their products to the Philippines Market.

The company also offers used and rental excavators to surge the growth of the crawler excavator market in the Philippines. Government expenditure on infrastructure stood at PHP 56.1 billion during February 2021, increasing 23.1% from February 2020. This, in turn, creating growth opportunities for the vendors in the market.

 

KEY HIGHLIGHTS FROM THE REPORT

In terms of end-users, the construction industry is expected to generate the highest demand for crawler excavators and is anticipated to dominate the market during the forecast period further.

The purchase decision of excavators depends on the expected future performance of construction, mining, and agriculture industries, which are highly dependent on government initiatives on infrastructure development and demand for residential building construction.

The Philippines' crawler excavator market revenue from agriculture is expected to reach USD 27.2 million by 2027, growing at a CAGR of 2.83%.