The import of cranes designed for mounting on road vehicles to the Philippines is forecasted to see steady growth over the period from 2024 to 2028. Starting from a value of 4.7171 million USD in 2024, the projected import values increase annually, reaching 5.6539 million USD by 2028. In 2023, the actual import value stood at 4.5 million USD.
Year-on-year variations show that from 2024 to 2025, there is a 5.11% increase; from 2025 to 2026, a 4.77% rise; from 2026 to 2027, a 4.46% increase; and from 2027 to 2028, a 4.18% rise. The compound annual growth rate (CAGR) from 2024 to 2028 stands at 4.63%.
Future trends to watch for in this market include advancements in crane technology, the development of infrastructure projects within the Philippines, and potential shifts in trade policies or tariffs that could impact import costs. Additionally, any changes in the global supply chain and demand in sectors such as construction and logistics could significantly influence future import trends.
