Israel: Internal Combustion Engines Market 2024

Internal Combustion Engines Market Size in Israel

The Israeli internal combustion engines market was estimated at $X in 2021, growing by 3.9% 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). Overall, consumption enjoyed a resilient expansion. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Internal Combustion Engines Exports

Exports from Israel

In 2021, overseas shipments of motor vehicles compression-ignition internal combustion piston engines increased by 247% to X units, rising for the second year in a row after five years of decline. Overall, exports saw a strong expansion. The pace of growth was the most pronounced in 2014 when exports increased by 24,029%. 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, internal combustion engines exports skyrocketed to $X in 2021. Over the period under review, exports recorded prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 21,402% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for internal combustion engines exports from Israel, accounting for a 81% share of total exports. Moreover, internal combustion engines exports to the United States exceeded the volume sent to the second major destination, Nigeria (X units), more than tenfold. Ghana (X units) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +54.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+800.0% per year) and Ghana (+18.9% per year).

In value terms, the United States ($X) emerged as the key foreign market for motor vehicles compression-ignition internal combustion piston engines exports from Israel, comprising 79% of total exports. The second position in the ranking was held by Nigeria ($X), with an 8% share of total exports. It was followed by Ghana, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +50.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+159.6% per year) and Ghana (+30.3% per year).

Export Prices by Country

The average internal combustion engines export price stood at $X per unit in 2021, dropping by -2% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 87% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the average export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Jordan ($X per unit) and Ghana ($X per unit), while the average price for exports to the United States ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Internal Combustion Engines Imports

Imports into Israel

In 2021, overseas purchases of motor vehicles compression-ignition internal combustion piston engines increased by 11% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2018 when imports increased by 66% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, internal combustion engines imports totaled $X in 2021. Overall, imports recorded strong growth. The most prominent rate of growth was recorded in 2018 when imports increased by 97%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan (X units), Germany (X units) and France (X units) were the main suppliers of internal combustion engines imports to Israel, with a combined 71% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +55.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Germany ($X) and France ($X) were the largest internal combustion engines suppliers to Israel, together accounting for 71% of total imports. The UK, Canada, South Korea, Italy, Sweden, the Netherlands, Turkey and the United States lagged somewhat behind, together accounting for a further 26%.

Canada, with a CAGR of +61.2%, 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 internal combustion engines import price stood at $X per unit in 2021, dropping by -4.7% against the previous year. Over the period under review, import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, internal combustion engines import price decreased by -9.1% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by 32%. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Canada ($X per unit) and Turkey ($X per unit), while the price for the Netherlands ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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