Israel: Lifting Equipment Market 2024

Lifting Equipment Market Size in Israel

The Israeli lifting equipment market amounted to $X in 2021, growing by 10% 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. Lifting equipment consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Lifting Equipment Exports

Exports from Israel

In 2021, shipments abroad of lifting equipment increased by 460% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 3,400% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, lifting equipment exports soared to $X in 2021. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 2,295%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Russia (X units) was the main destination for lifting equipment exports from Israel, with a 50% share of total exports. Moreover, lifting equipment exports to Russia exceeded the volume sent to the second major destination, Nigeria (X units), twofold. The United States (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Russia stood at +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (-14.1% per year) and the United States (-6.9% per year).

In value terms, Italy ($X) remains the key foreign market for lifting equipment exports from Israel, comprising 8.7% of total exports. The second position in the ranking was held by the United States ($X), with a 1.6% share of total exports. It was followed by Jordan, with a 1.1% share.

From 2012 to 2021, the average annual growth rate of value to Italy totaled +64.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+62.0% per year) and Jordan (+43.2% per year).

Export Prices by Country

The average lifting equipment export price stood at $X per unit in 2021, surging by 26% against the previous year. Overall, the export price enjoyed a moderate expansion. The pace of growth was the most pronounced in 2015 when the average export price increased by 142%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Nigeria ($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 (+16.5%), while the prices for the other major destinations experienced mixed trend patterns.

Lifting Equipment Imports

Imports into Israel

In 2021, the amount of lifting equipment imported into Israel soared to X units, surging by 31% on the year before. Overall, imports saw a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of 730% against the previous year. Over the period under review, imports reached the peak figure at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, lifting equipment imports surged to $X in 2021. In general, imports recorded pronounced growth. The most prominent rate of growth was recorded in 2015 when imports increased by 661% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest lifting equipment supplier to Israel, with a 63% share of total imports. Moreover, lifting equipment imports from Germany exceeded the figures recorded by the second-largest supplier, Spain (X units), sixfold. The third position in this ranking was held by Italy (X units), with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +75.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+36.1% per year) and Italy (+31.8% per year).

In value terms, the largest lifting equipment suppliers to Israel were the Czech Republic ($X), Sweden ($X) and the UK ($X), together comprising 19% of total imports. These countries were followed by Spain, China, the United States, Italy, Norway and Germany, which together accounted for a further 14%.

Spain, with a CAGR of +41.3%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average lifting equipment import price amounted to $X per unit, picking up by 31% against the previous year. In general, the import price, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2017 an increase of 407% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+66.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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