Israel: Agricultural Appliance Market 2024

Agricultural Appliance Market Size in Israel

In 2021, the Israeli agricultural appliance market increased by 394% to $X, rising for the sixth year in a row after two years of decline. Over the period under review, consumption continues to indicate a significant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Agricultural Appliance Production in Israel

In value terms, agricultural appliance production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 26%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Agricultural Appliance Exports

Exports from Israel

In 2021, the amount of agricultural appliances exported from Israel contracted slightly to X units, waning by -3.9% compared with the previous year's figure. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 39% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, agricultural appliance exports amounted to $X in 2021. The total export value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 25% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Turkey (X units), Spain (X units) and the United States (X units) were the main destinations of agricultural appliance exports from Israel, with a combined 49% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +14.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for agricultural appliance exported from Israel were Turkey ($X), Spain ($X) and the United States ($X), together accounting for 49% of total exports.

Among the main countries of destination, Turkey, with a CAGR of +14.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average agricultural appliance export price stood at $X per unit in 2021, with an increase of 13% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 18% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably for the major export markets. In 2021, the highest price was recorded for prices to Japan ($X per unit) and Australia ($X per unit), while the average price for exports to China ($X per unit) and France ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+0.5%), while the prices for the other major destinations experienced more modest paces of growth.

Agricultural Appliance Imports

Imports into Israel

In 2021, purchases abroad of agricultural appliances was finally on the rise to reach X units for the first time since 2016, thus ending a four-year declining trend. Overall, imports, however, showed a abrupt descent. The growth pace was the most rapid in 2016 with an increase of 50% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, agricultural appliance imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a noticeable downturn. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

China (X units), Italy (X units) and India (X units) were the main suppliers of agricultural appliance imports to Israel, with a combined 59% share of total imports. These countries were followed by the United Arab Emirates, Spain, the United States, Germany, Turkey, Mexico, Cyprus and France, which together accounted for a further 37%.

From 2012 to 2021, the biggest increases were recorded for Cyprus (with a CAGR of +33.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Italy ($X) and India ($X) constituted the largest agricultural appliance suppliers to Israel, together accounting for 63% of total imports. Spain, the United States, Germany, the United Arab Emirates, Turkey, Mexico, Cyprus and France lagged somewhat behind, together accounting for a further 32%.

In terms of the main suppliers, Cyprus, with a CAGR of +39.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average agricultural appliance import price stood at $X per unit in 2021, stabilizing at the previous year. Overall, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, agricultural appliance import price decreased by -3.7% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 32%. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Turkey ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cyprus (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform