RAMON MAGSAYSAY MEMORIAL COLLEGES

College of Business Education

Pioneer Avenue, General Santos City

A FEASIBILITY STUDY

ON ESTABLISHING MACHINE SHOP IN POLOMOLOK SOUTH COTABATO

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In Partial Fulfillment of the

Requirements in

Product Management with Feasibility Study

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Presented by:

Norman Lorenz A. Minoza

Presented to:

Arvin T. Galigao, MBM

BSBA – Program Director

MYLENE M. TURCO, MBA

Instructor
 CHAPTER I
This chapter explains the study’s history, problem statement, hypothesis,

significance, scope and limitations, and term definitions.

Back ground of the study

The procurement intelligence firm Beroe Inc. estimates that the global machining

industry is valued at $341.91 billion and is expected to increase at a compound annual

growth rate (CAGR) of 6-7 percent until 2022. 30% of the market is occupied by

conventional machining, compared to 70% by precision machining. Growing market

demand is being driven by end-use industries such as the automotive and electrical

sectors.

At 35 percent of the worldwide machining market, Asia Pacific is considered the

region with the most significant demand, followed by Europe at 25 percent, North

America at 21 percent, Latin America at 10 percent, and the Middle East and Africa at 9

percent. China has the largest machining market with a market value estimated at

$54.71 billion and a compound annual growth rate of 6.6%. (Beroe Inc. , 2019)

Except for electrical equipment, the gross value added produced in the

Philippines in 2022 from the manufacturing of machinery and equipment was close to

50 billion Philippine pesos. Compared to the total of roughly 41 billion Philippine pesos

the previous year, this represents an increase. (Statista, 2023)

In recent times, Polomolok, a thriving municipality located in the center of South

Cotabato, Philippines, has experienced notable economic growth. The need for

specialist services to assist diverse businesses is rising as the local economy continues
to diversify. Machining is one such vital service that is essential to the production and

manufacturing industries.The increasing efficiency, quality, and innovation of

Polomolok's industries have led to a growth in demand for precision machining services.

It is essential to investigate and comprehend the dynamics of the local machining sector

in order to meet this demand and support economic growth in the community.

References
Beroe Inc. . (2019, October 19). Machining Market to Reach $414.17 Billion by 2022, Says Beroe Inc.
Retrieved from www.prnewswire.com: https://www.prnewswire.com/news-releases/machining-
market-to-reach-414-17-billion-by-2022--says-beroe-inc-300939464.html

Statista. (2023, September 6). Gross value added generated from the manufacturing of machinery and
equipment except electrical in the Philippines from 2020 to 2022. Retrieved from
www.statista.com: https://www.statista.com/statistics/758460/machinery-and-equipment-
manufacturing-value-added-philippines/