Israel: Tools For Bearing Market 2024

Tools For Bearing Market Size in Israel

In 2022, the Israeli tools for bearing market decreased by -8.9% to $X, falling for the second consecutive year after two years of growth. In general, consumption, however, showed a moderate expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Tools For Bearing Exports

Exports from Israel

In 2022, exports of balls, needles and rollers for ball or roller bearings from Israel skyrocketed to X tons, jumping by 634% against the previous year. Overall, exports showed a moderate expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 1,330% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tools for bearing exports skyrocketed to $X in 2022. In general, exports enjoyed noticeable growth. The most prominent rate of growth was recorded in 2016 when exports increased by 925% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for tools for bearing exports from Israel, with a 77% share of total exports. Moreover, tools for bearing exports to the United States exceeded the volume sent to the second major destination, the UK (X kg), sixfold. The third position in this ranking was taken by Luxembourg (X kg), with a 9.1% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to the United States totaled +20.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and Luxembourg (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for balls, needles and rollers for ball or roller bearings exports from Israel, comprising 77% of total exports. The second position in the ranking was taken by the UK ($X), with a 12% share of total exports. It was followed by Luxembourg, with a 9.1% share.

From 2013 to 2022, the average annual rate of growth in terms of value to the United States stood at +25.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and Luxembourg (0.0% per year).

Export Prices by Country

The average tools for bearing export price stood at $X per ton in 2022, approximately equating the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average export price increased by 18% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were the UK ($X per ton) and Luxembourg ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+10.9%), while the prices for the other major destinations experienced mixed trend patterns.

Tools For Bearing Imports

Imports into Israel

Tools for bearing imports into Israel stood at X tons in 2022, flattening at the previous year's figure. Over the period under review, imports enjoyed prominent growth. The pace of growth was the most pronounced in 2020 when imports increased by 116%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, tools for bearing imports declined to $X in 2022. Overall, imports recorded a tangible expansion. The most prominent rate of growth was recorded in 2020 with an increase of 139%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest tools for bearing supplier to Israel, with a 58% share of total imports. Moreover, tools for bearing imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), sixfold. The third position in this ranking was held by the United States (X tons), with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +24.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+2.6% per year) and the United States (+6.1% per year).

In value terms, China ($X) constituted the largest supplier of balls, needles and rollers for ball or roller bearings to Israel, comprising 58% of total imports. The second position in the ranking was held by Italy ($X), with a 9.7% share of total imports. It was followed by the United States, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +19.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.3% per year) and the United States (+2.1% per year).

Import Prices by Country

The average tools for bearing import price stood at $X per ton in 2022, waning by -4.1% against the previous year. Overall, the import price recorded a noticeable decrease. The growth pace was the most rapid in 2020 when the average import price increased by 11% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Taiwan (Chinese) ($X per ton) and the UK ($X per ton), while the price for China ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-3.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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