Israel: Gear Box Market 2024

Gear Box Market Size in Israel

In 2022, the Israeli gear box market increased by 2.2% to $X, rising for the third year in a row after five years of decline. The market value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Gear Box Exports

Exports from Israel

In 2022, shipments abroad of gear boxes increased by 231% to X units, rising for the second year in a row after two years of decline. In general, exports, however, recorded a abrupt shrinkage. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, gear box exports soared to $X in 2022. Overall, exports, however, recorded a abrupt contraction. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for gear box exports from Israel, with a 78% share of total exports. Moreover, gear box exports to the United States exceeded the volume sent to the second major destination, Germany (X units), fivefold. The third position in this ranking was taken by Jordan (X units), with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-20.2% per year) and Jordan (-5.1% per year).

In value terms, the United States ($X) emerged as the key foreign market for gear boxes exports from Israel, comprising 78% of total exports. The second position in the ranking was held by Germany ($X), with a 15% share of total exports. It was followed by Jordan, with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-18.9% per year) and Jordan (-3.4% per year).

Export Prices by Country

In 2022, the average gear box export price amounted to $X per unit, shrinking by -9.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 21% against the previous year. The export price peaked at $X per unit in 2021, and then declined in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per unit) and Jordan ($X per unit), while the average price for exports to the UK ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Box Imports

Imports into Israel

In 2022, overseas purchases of gear boxes increased by 6.6% to X units, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by 28%. Imports peaked at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, gear box imports totaled $X in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2013 with an increase of 28% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X units), Hungary (X units) and the United States (X units) were the main suppliers of gear box imports to Israel, together comprising 50% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +142.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Hungary ($X) and the United States ($X) were the largest gear box suppliers to Israel, together accounting for 50% of total imports.

Hungary, with a CAGR of +141.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gear box import price stood at $X per unit in 2022, which is down by -3% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 6.5%. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 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 Mexico ($X per unit) and the United States ($X per unit), while the price for South Korea ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :