Israel: Boring Machinery Market 2024

Boring Machinery Market Size in Israel

The Israeli boring machinery market skyrocketed to $X in 2022, with an increase of 252% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a deep reduction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Boring Machinery Exports

Exports from Israel

In 2022, boring machinery exports from Israel soared to X units, jumping by 350% on 2021 figures. Over the period under review, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 1,188% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, boring machinery exports soared to $X in 2022. In general, exports showed a resilient increase. The growth pace was the most rapid in 2019 with an increase of 1,923%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The UK (X units) was the main destination for boring machinery exports from Israel, accounting for a 72% share of total exports. Moreover, boring machinery exports to the UK exceeded the volume sent to the second major destination, the Netherlands (X units), fourfold. The third position in this ranking was taken by the United States (X units), with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK stood at +196.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+21.5% per year) and the United States (+7.2% per year).

In value terms, the Netherlands ($X), the UK ($X) and Cyprus ($X) constituted the largest markets for boring machinery exported from Israel worldwide, with a combined 96% share of total exports.

In terms of the main countries of destination, the UK, with a CAGR of +81.5%, 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

In 2022, the average boring machinery export price amounted to $X per unit, waning by -53.1% against the previous year. Over the period under review, the export price recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when the average export price increased by 230%. Over the period under review, the average export prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Cyprus ($X per unit), while the average price for exports to the UK ($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 (+101.8%), while the prices for the other major destinations experienced more modest paces of growth.

Boring Machinery Imports

Imports into Israel

After two years of decline, overseas purchases of boring or sinking machinery increased by 269% to X units in 2022. In general, imports, however, recorded a abrupt descent. Imports peaked at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, boring machinery imports surged to $X in 2022. Overall, imports, however, continue to indicate a pronounced setback. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X units), Italy (X units) and the Netherlands (X units) were the main suppliers of boring machinery imports to Israel, with a combined 90% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +24.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of boring or sinking machinery to Israel, comprising 42% of total imports. The second position in the ranking was taken by Italy ($X), with a 17% share of total imports. It was followed by the United States, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-3.6% per year) and the United States (+22.8% per year).

Import Prices by Country

The average boring machinery import price stood at $X per unit in 2022, increasing by 134% against the previous year. Over the period under review, the import price showed a prominent increase. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a 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 the United States ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+31.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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