Israel: Power Tool Market 2024

Power Tool Market Size in Israel

The Israeli power tool market skyrocketed to $X in 2021, rising by 52% 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 saw a prominent expansion. Power tool consumption peaked in 2021 and is likely to see steady growth in the near future.

Power Tool Exports

Exports from Israel

In 2021, power tool exports from Israel declined sharply to X units, waning by -53.7% compared with the year before. Overall, exports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2014 with an increase of 1,256% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, power tool exports contracted rapidly to $X in 2021. In general, exports saw a drastic downturn. The growth pace was the most rapid in 2014 with an increase of 1,143% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Palestine (X units) was the main destination for power tool exports from Israel, accounting for a 30% share of total exports. Moreover, power tool exports to Palestine exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was taken by Congo (X units), with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Palestine totaled -14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+5.0% per year) and Congo (+24.6% per year).

In value terms, Palestine ($X) remains the key foreign market for power tools exports from Israel, comprising 26% of total exports. The second position in the ranking was taken by the United States ($X), with a 9.9% share of total exports. It was followed by Nigeria, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value to Palestine totaled -17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+3.9% per year) and Nigeria (+6.3% per year).

Export Prices by Country

In 2021, the average power tool export price amounted to $X per unit, surging by 9.3% against the previous year. Over the period under review, the export price showed a noticeable expansion. The pace of growth appeared the most rapid in 2018 when the average export price increased by 130%. Over the period under review, the average export prices attained the maximum at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Congo ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Luxembourg (+27.6%), while the prices for the other major destinations experienced more modest paces of growth.

Power Tool Imports

Imports into Israel

In 2021, imports of power tools into Israel surged to X units, picking up by 47% against 2020 figures. Overall, imports posted resilient growth. The growth pace was the most rapid in 2018 with an increase of 251% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, power tool imports surged to $X in 2021. Over the period under review, imports enjoyed a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of power tool to Israel, with a 51% share of total imports. Moreover, power tool imports from China exceeded the figures recorded by the second-largest supplier, Romania (X units), fivefold. The third position in this ranking was taken by Germany (X units), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+36.1% per year) and Germany (-1.9% per year).

In value terms, China ($X) constituted the largest supplier of power tools to Israel, comprising 53% of total imports. The second position in the ranking was held by Romania ($X), with an 11% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+45.4% per year) and Germany (-3.7% per year).

Import Prices by Country

In 2021, the average power tool import price amounted to $X per unit, picking up by 12% against the previous year. In general, the import price recorded modest growth. The most prominent rate of growth was recorded in 2017 when the average import price increased by 253%. As a result, import price attained the peak level of $X per unit. From 2018 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Cyprus ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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