Israel: Tap And Valve Market 2024

Tap And Valve Market Size in Israel

The Israeli tap and valve market rose sharply to $X in 2022, growing by 11% against the previous year. In general, consumption saw resilient growth. Tap and valve consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Tap And Valve Production in Israel

In value terms, tap and valve production rose rapidly to $X in 2022 estimated in export price. Overall, production saw a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 47%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Tap And Valve Exports

Exports from Israel

In 2022, overseas shipments of taps, cocks, valves and similar appliances increased by 10% to X tons, rising for the third year in a row after five years of decline. The total export volume increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 21%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, tap and valve exports expanded notably to $X in 2022. Overall, total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.0% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 24% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for tap and valve exports from Israel, accounting for a 23% share of total exports. Moreover, tap and valve exports to the United States exceeded the volume sent to the second major destination, China (X tons), threefold. The third position in this ranking was held by Spain (X tons), with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+1.8% per year) and Spain (+8.4% per year).

In value terms, the United States ($X) remains the key foreign market for taps, cocks, valves and similar appliances exports from Israel, comprising 24% of total exports. The second position in the ranking was held by China ($X), with a 6.6% share of total exports. It was followed by Spain, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+3.3% per year) and Spain (+9.4% per year).

Export Prices by Country

The average tap and valve export price stood at $X per ton in 2022, waning by -2.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2017 an increase of 13%. The export price peaked at $X per ton in 2021, and then shrank slightly in the following year.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Brazil ($X per ton) and South Korea ($X per ton), while the average price for exports to Mexico ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+2.4%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Israel

In 2022, the amount of taps, cocks, valves and similar appliances imported into Israel soared to X tons, jumping by 18% on the previous year. In general, total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +24.4% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of 27% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, tap and valve imports expanded significantly to $X in 2022. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +21.8% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 21% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of tap and valve imports to Israel, together accounting for 56% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +9.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Germany ($X) constituted the largest tap and valve suppliers to Israel, with a combined 56% share of total imports.

In terms of the main suppliers, China, with a CAGR of +10.5%, saw 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 2022, the average tap and valve import price amounted to $X per ton, waning by -7% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 16% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then contracted in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Switzerland ($X per ton) and Germany ($X per ton), while the price for the Netherlands ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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