Israel: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Israel

In 2021, the Israeli gear cutting machine market was finally on the rise to reach $X after four years of decline. Overall, consumption continues to indicate significant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Gear Cutting Machine Production in Israel

In value terms, gear cutting machine production fell modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when the production volume increased by 7.9% against the previous year. Gear cutting machine production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Gear Cutting Machine Exports

Exports from Israel

In 2021, shipments abroad of gear cutting, gear grinding or gear finishing machines decreased by -67.8% to X units for the first time since 2015, thus ending a five-year rising trend. Overall, exports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2018 when exports increased by 1,800%. The exports peaked at X units in 2020, and then reduced sharply in the following year.

In value terms, gear cutting machine exports contracted significantly to $X in 2021. Over the period under review, exports showed a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 775%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Belgium (X units) was the main destination for gear cutting machine exports from Israel, with a 47% share of total exports. Moreover, gear cutting machine exports to Belgium exceeded the volume sent to the second major destination, India (X units), ninefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belgium was relatively modest.

In value terms, the largest markets for gear cutting machine exported from Israel were Belgium ($X), Botswana ($X) and India ($X), with a combined 18% share of total exports.

Among the main countries of destination, Botswana, with a CAGR of +4.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average gear cutting machine export price stood at $X per unit in 2021, falling by -6.8% against the previous year. In general, the export price recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 an increase of 155% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2017; however, from 2018 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 the United States ($X per unit), while the average price for exports to Belgium ($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 the United States (+32.0%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Cutting Machine Imports

Imports into Israel

In 2021, the amount of gear cutting, gear grinding or gear finishing machines imported into Israel skyrocketed to X units, picking up by 2,353% compared with the year before. Overall, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 8,250%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, gear cutting machine imports soared to $X in 2021. In general, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 5,100% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, India (X units) constituted the largest gear cutting machine supplier to Israel, with a 73% share of total imports. Moreover, gear cutting machine imports from India exceeded the figures recorded by the second-largest supplier, Turkey (X units), eightfold. China (X units) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India amounted to +47.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+101.2% per year) and China (-0.8% per year).

In value terms, China ($X), Italy ($X) and the Netherlands ($X) appeared to be the largest gear cutting machine suppliers to Israel, together comprising 5.4% of total imports. These countries were followed by the UK, Turkey, India and South Korea, which together accounted for a further 0.6%.

In terms of the main suppliers, the UK, with a CAGR of +33.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gear cutting machine import price stood at $X per unit in 2021, shrinking by -7.7% against the previous year. Overall, the import price continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2017 an increase of 4,080% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+25.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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