In 2023, the value of Industrial Machinery Value Added in the Philippines stood at 22.52% of Manufacturing Value Added. Forecasts indicate a steady decline from 2024 to 2028. Specifically, the value is expected to drop from 22.07% in 2024 to 20.66% in 2028. On a year-on-year basis, there is a consistent negative trend, with percentage decreases ranging from about 2.18% to 1.20% annually. The compound annual growth rate (CAGR) over the last five years shows an average decrease of around 1.74% per year.
Future trends to watch for include advancements in automation and smart manufacturing systems, which could potentially offset some of the declining value. Additionally, shifts in global supply chains and investments in technology and infrastructure could influence the industrial machinery sector's performance in the coming years.
