Israel: Lock And Key Market 2024

Lock And Key Market Size in Israel

The Israeli lock and key market skyrocketed to $X in 2021, rising by 29% 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, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +9.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +77.1% against 2014 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Lock And Key Exports

Exports from Israel

In 2021, overseas shipments of padlocks, locks and keys of base metal were finally on the rise to reach X tons after two years of decline. In general, exports, however, continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2016 when exports increased by 80% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, lock and key exports skyrocketed to $X in 2021. Overall, total exports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +58.8% against 2017 indices. The most prominent rate of growth was recorded in 2016 with an increase of 42%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for lock and key exports from Israel, with a 44% share of total exports. Moreover, lock and key exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), fivefold. Germany (X tons) ranked third in terms of total exports with a 6.9% share.

From 2012 to 2021, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+13.3% per year) and Germany (-7.0% per year).

In value terms, the United States ($X) remains the key foreign market for padlocks, locks and keys of base metal exports from Israel, comprising 44% of total exports. The second position in the ranking was held by the UK ($X), with an 11% share of total exports. It was followed by Germany, with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+21.8% per year) and Germany (-4.9% per year).

Export Prices by Country

In 2021, the average lock and key export price amounted to $X per ton, growing by 3.4% against the previous year. Overall, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lock and key export price increased by +105.3% against 2016 indices. The pace of growth appeared the most rapid in 2017 an increase of 40% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into Israel

In 2021, approx. X tons of padlocks, locks and keys of base metal were imported into Israel; rising by 24% against the year before. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +63.0% against 2013 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lock and key imports skyrocketed to $X in 2021. Overall, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +114.4% against 2012 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of lock and key to Israel, accounting for a 42% share of total imports. Moreover, lock and key imports from China exceeded the figures recorded by the second-largest supplier, Austria (X tons), twofold. Germany (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+4.5% per year) and Germany (+7.5% per year).

In value terms, China ($X) constituted the largest supplier of padlocks, locks and keys of base metal to Israel, comprising 48% of total imports. The second position in the ranking was taken by Germany ($X), with an 11% share of total imports. It was followed by Austria, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.2% per year) and Austria (+5.2% per year).

Import Prices by Country

The average lock and key import price stood at $X per ton in 2021, growing by 4.6% against the previous year. Over the last nine years, it increased at an average annual rate of +3.2%. The pace of growth appeared the most rapid in 2020 an increase of 14%. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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