Israel: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Israel

For the third year in a row, the Israeli market for vacuum pumps and air or gas compressors recorded growth in sales value, which increased by 4.4% to $X in 2022. Over the period under review, consumption recorded a buoyant expansion. Consumption of peaked in 2022 and is expected to retain growth in years to come.

Production of Vacuum Pumps and Air or Gas Compressors in Israel

In value terms, production of vacuum pumps and air or gas compressors rose significantly to $X in 2022 estimated in export price. In general, the total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -10.5% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 73%. Over the period under review, production of reached the maximum level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from Israel

In 2022, approx. X units of vacuum pumps and air or gas compressors were exported from Israel; with an increase of 9.4% on the year before. Over the period under review, exports, however, recorded a deep reduction. The pace of growth was the most pronounced in 2017 with an increase of 11% against the previous year. Over the period under review, the exports of reached the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of vacuum pumps and air or gas compressors rose to $X in 2022. In general, exports posted a resilient expansion. The pace of growth was the most pronounced in 2018 when exports increased by 77% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Singapore (X units) was the main destination for exports of vacuum pumps and air or gas compressors from Israel, accounting for a 60% share of total exports. Moreover, exports of vacuum pumps and air or gas compressors to Singapore exceeded the volume sent to the second major destination, the United States (X units), sixfold. The Netherlands (X units) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore stood at +15.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-19.0% per year) and the Netherlands (+26.0% per year).

In value terms, the Netherlands ($X), the United States ($X) and Singapore ($X) constituted the largest markets for vacuum pump and air or gas compressor exported from Israel worldwide, together accounting for 39% of total exports.

The Netherlands, with a CAGR of +46.0%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, falling by -5.2% against the previous year. Over the period under review, the export price, however, recorded significant growth. The pace of growth was the most pronounced in 2018 when the average export price increased by 108% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then fell in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cyprus (+63.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into Israel

In 2022, supplies from abroad of vacuum pumps and air or gas compressors increased by 3.7% to X units, rising for the third year in a row after two years of decline. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 34% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of vacuum pumps and air or gas compressors reduced slightly to $X in 2022. Overall, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +25.4% against 2019 indices. The pace of growth was the most pronounced in 2017 when imports increased by 35% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of vacuum pump and air or gas compressor to Israel, accounting for a 26% share of total imports. Moreover, imports of vacuum pumps and air or gas compressors from China exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The United States (X units) ranked third in terms of total imports with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.2% per year) and the United States (+3.3% per year).

In value terms, the largest vacuum pump and air or gas compressor suppliers to Israel were China ($X), Germany ($X) and the United States ($X), together accounting for 46% of total imports. Thailand, Italy, Belgium, South Korea, Japan, the UK, France, India, Turkey and Taiwan (Chinese) lagged somewhat behind, together comprising a further 38%.

Among the main suppliers, Turkey, with a CAGR of +16.8%, saw the highest growth rate of 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 import price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, reducing by -4.8% against the previous year. Over the period under review, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for vacuum pumps and air or gas compressors decreased by -31.0% against 2017 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 25% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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