Israel: Transmission Shaft Market 2024

Transmission Shaft Market Size in Israel

The Israeli transmission shaft market rose markedly to $X in 2022, with an increase of 9.5% 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 remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +98.1% against 2016 indices. Transmission shaft consumption peaked in 2022 and is expected to retain growth in the immediate term.

Transmission Shaft Exports

Exports from Israel

In 2022, approx. X tons of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain were exported from Israel; with an increase of 22% compared with 2021. The total export volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, transmission shaft exports surged to $X in 2022. In general, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 +61.8% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for transmission shaft exports from Israel, with a 54% share of total exports. Moreover, transmission shaft exports to the United States exceeded the volume sent to the second major destination, Turkey (X tons), sixfold. Mexico (X tons) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+21.7% per year) and Mexico (+4.6% per year).

In value terms, the United States ($X) remains the key foreign market for transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exports from Israel, comprising 53% of total exports. The second position in the ranking was taken by Turkey ($X), with an 11% share of total exports. It was followed by Mexico, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+25.4% per year) and Mexico (+6.9% per year).

Export Prices by Country

The average transmission shaft export price stood at $X per ton in 2022, almost unchanged from the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 14% against the previous year. As a result, the export price attained the peak level of $X per ton, leveling off in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Israel

Transmission shaft imports into Israel rose remarkably to X tons in 2022, surging by 10% on 2021. In general, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.9% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 40%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, transmission shaft imports amounted to $X in 2022. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +83.1% against 2016 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 34%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

The United States (X tons), Germany (X tons) and China (X tons) were the main suppliers of transmission shaft imports to Israel, together comprising 53% of total imports. France, Italy, Japan, Turkey, the UK, Spain, Taiwan (Chinese), the Netherlands, Switzerland and Belgium lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +20.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and China ($X) constituted the largest transmission shaft suppliers to Israel, together comprising 53% of total imports. France, Italy, Japan, the UK, Turkey, Spain, Taiwan (Chinese), the Netherlands, Switzerland and Belgium lagged somewhat behind, together accounting for a further 33%.

Spain, with a CAGR of +20.4%, saw the highest growth rate of 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

In 2022, the average transmission shaft import price amounted to $X per ton, standing approx. at the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by 14%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Belgium ($X per ton) and the UK ($X per ton), while the price for France ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+1.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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