Israel: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Israel

In 2021, the Israeli spherical roller bearing market decreased by -31.1% to $X, falling for the fourth year in a row after two years of growth. Overall, consumption, however, continues to indicate a moderate expansion. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Spherical Roller Bearing Exports

Exports from Israel

In 2021, exports of spherical roller bearings from Israel soared to X tons, rising by 56% on the year before. In general, exports recorded a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 78% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, spherical roller bearing exports surged to $X in 2021. Over the period under review, exports recorded a significant increase. The pace of growth appeared the most rapid in 2015 when exports increased by 53% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for spherical roller bearing exports from Israel, accounting for a 89% share of total exports. Moreover, spherical roller bearing exports to the United States exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +87.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+68.7% per year) and the UK (-22.9% per year).

In value terms, the United States ($X) remains the key foreign market for spherical roller bearings exports from Israel, comprising 86% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 5.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +60.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+45.1% per year) and the UK (-11.5% per year).

Export Prices by Country

In 2021, the average spherical roller bearing export price amounted to $X per ton, waning by -2.5% against the previous year. Over the period under review, the export price continues to indicate a deep contraction. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the UK ($X per ton), while the average price for exports to Hong Kong SAR ($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 the UK (+15.0%), while the prices for the other major destinations experienced a decline.

Spherical Roller Bearing Imports

Imports into Israel

In 2021, approx. X tons of spherical roller bearings were imported into Israel; with a decrease of -17% on 2020 figures. Overall, imports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2013 when imports increased by 149% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, spherical roller bearing imports reduced to $X in 2021. In general, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.2% 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 decreased by -27.4% against 2017 indices. The pace of growth was the most pronounced in 2013 when imports increased by 156%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X tons), Sweden (X tons) and Germany (X tons) were the main suppliers of spherical roller bearing imports to Israel, with a combined 73% share of total imports. These countries were followed by China, the UK, Malaysia, South Africa, France, Belgium and Slovenia, which together accounted for a further 20%.

From 2012 to 2021, the biggest increases were recorded for South Africa (with a CAGR of +54.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest spherical roller bearing suppliers to Israel were the United States ($X), Sweden ($X) and Germany ($X), together comprising 74% of total imports. China, the UK, Malaysia, South Africa, France, Belgium and Slovenia lagged somewhat behind, together accounting for a further 20%.

Among the main suppliers, China, with a CAGR of +49.8%, recorded the highest rates of growth with regard to 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

In 2021, the average spherical roller bearing import price amounted to $X per ton, surging by 5.1% against the previous year. Over the period under review, the import price, however, recorded a mild descent. The pace of growth appeared the most rapid in 2020 when the average import price increased by 6% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Slovenia ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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