Key Market Indicators
Filipina Gas Turbine Export is projected to decline to approximately $5.1 million by 2028, down from around $6.1 million in 2023. This marks an average annual decrease of 2.8%. Despite this downturn, the country's supply has seen a steady increase of 4.8% year on year since 2001. In 2023, the Philippines ranked 58th in the global export market. Kazakhstan, with exports valued at about $6.1 million, took the lead. France, Singapore, and Germany followed in the rankings, occupying the second, third, and fourth positions respectively. On the import front, Filipina Gas Turbine Import is forecasted to drop to $40.4 million by 2028, down from $44.2 million in 2023. This represents an average annual decline of 1.4%. However, since 2001, the country's demand for gas turbines has grown at an annual rate of 5.5%.
