Israel: Crane Market 2024

Crane Market Size in Israel

The Israeli crane market skyrocketed to $X in 2022, with an increase of 19% 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). In general, consumption saw a strong increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Crane Exports

Exports from Israel

In 2022, shipments abroad of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane decreased by -43.3% to X units, falling for the second year in a row after two years of growth. In general, exports saw a precipitous shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 500% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, crane exports contracted notably to $X in 2022. Overall, exports faced a sharp curtailment. The growth pace was the most rapid in 2019 with an increase of 426% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Egypt (X units), the United States (X units) and Spain (X units) were the main destinations of crane exports from Israel, with a combined 72% share of total exports. Germany, Sweden, France, Singapore, Belgium and South Korea lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +30.5%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Egypt ($X) and Spain ($X) constituted the largest markets for crane exported from Israel worldwide, together accounting for 73% of total exports.

In terms of the main countries of destination, Egypt, with a CAGR of +729.1%, recorded the highest growth rate of 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 crane export price amounted to $X per unit, dropping by -1.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 30%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2021, and then shrank modestly in the following year.

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 South Africa ($X per unit), while the average price for exports to Belgium ($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 South Africa (+21.0%), while the prices for the other major destinations experienced more modest paces of growth.

Crane Imports

Imports into Israel

In 2022, approx. X units of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane were imported into Israel; growing by 15% on the previous year's figure. Overall, imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 118% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, crane imports skyrocketed to $X in 2022. Over the period under review, imports saw a strong increase. The growth pace was the most rapid in 2020 with an increase of 167% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of crane to Israel, with a 42% share of total imports. Moreover, crane imports from China exceeded the figures recorded by the second-largest supplier, France (X units), twofold. Spain (X units) ranked third in terms of total imports with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +61.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+30.8% per year) and Spain (+11.0% per year).

In value terms, China ($X) constituted the largest supplier of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane to Israel, comprising 46% of total imports. The second position in the ranking was taken by France ($X), with a 12% share of total imports. It was followed by Italy, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +66.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+32.6% per year) and Italy (+0.6% per year).

Import Prices by Country

In 2022, the average crane import price amounted to $X per unit, increasing by 5.3% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 23%. Over the period under review, average import prices attained the maximum at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per unit), while the price for Portugal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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