Israel: Tractor Market 2024

Tractor Market Size in Israel

In 2022, the Israeli tractor market increased by 1.6% to $X, rising for the fourth year in a row after two years of decline. In general, consumption continues to indicate slight growth. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Tractor Production in Israel

In value terms, tractor production expanded slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.0% against 2020 indices. The growth pace was the most rapid in 2019 when the production volume increased by 57%. Tractor production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Tractor Exports

Exports from Israel

In 2022, shipments abroad of tractors decreased by -70.3% to X units, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a noticeable reduction. The pace of growth was the most pronounced in 2017 when exports increased by 242% against the previous year. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, tractor exports reduced remarkably to $X in 2022. In general, exports recorded a deep downturn. The pace of growth was the most pronounced in 2017 with an increase of 224%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Netherlands (X units) was the main destination for tractor exports from Israel, accounting for a 20% share of total exports. Moreover, tractor exports to the Netherlands exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was taken by the United Arab Emirates (X units), with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands stood at +23.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-20.3% per year) and the United Arab Emirates (0.0% per year).

In value terms, the largest markets for tractor exported from Israel were the Netherlands ($X), the United Arab Emirates ($X) and Palestine ($X), together comprising 41% of total exports. These countries were followed by Belgium, the United States, Jordan, Bulgaria and Hong Kong SAR, which together accounted for a further 8.2%.

Among the main countries of destination, Belgium, with a CAGR of +26.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tractor export price stood at $X per unit in 2022, rising by 19% against the previous year. In general, the export price, however, saw a perceptible setback. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+18.3%), while the prices for the other major destinations experienced mixed trend patterns.

Tractor Imports

Imports into Israel

In 2022, approx. X units of tractors were imported into Israel; declining by -9.5% against 2021. Overall, imports continue to indicate a pronounced slump. The growth pace was the most rapid in 2021 with an increase of 72%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, tractor imports contracted to $X in 2022. In general, imports continue to indicate a slight descent. The pace of growth appeared the most rapid in 2013 when imports increased by 90%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Italy (X units), India (X units) and the Netherlands (X units) were the main suppliers of tractor imports to Israel, together accounting for 29% of total imports. Germany, Belgium, the United States, Turkey, Spain, South Korea, Switzerland and the UK lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +72.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tractor suppliers to Israel were Italy ($X), Germany ($X) and India ($X), together comprising 24% of total imports. These countries were followed by the Netherlands, the United States, Belgium, Spain, Turkey, South Korea, the UK and Switzerland, which together accounted for a further 19%.

Among the main suppliers, Turkey, with a CAGR of +130.0%, saw the highest growth rate of 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

The average tractor import price stood at $X per unit in 2022, declining by -2.7% against the previous year. Over the period under review, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tractor import price decreased by -2.0% against 2018 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 38% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+89.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :