Israel: Market for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles 2024

Market Size for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Israel

The Israeli market for tyres for agriculture, forestry, construction, industry and other off the road vehicles expanded sharply to $X in 2022, with an increase of 7.9% against the previous year. The market value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in the immediate term.

Production of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Israel

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles expanded to $X in 2022 estimated in export price. In general, the total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 -1.8% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 42%. Production of peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Exports from Israel

In 2022, the amount of tyres for agriculture, forestry, construction, industry and other off the road vehicles exported from Israel declined to X units, with a decrease of -13.6% against the previous year's figure. Overall, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 598%. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles dropped notably to $X in 2022. Over the period under review, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 573% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units), Germany (X units) and France (X units) were the main destinations of exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Israel, together accounting for 54% of total exports. Denmark, Belgium, the Netherlands, Brazil, Canada, Spain, Finland, Slovakia, Italy and the UK lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +80.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and France ($X) appeared to be the largest markets for agricultural, construction and industrial machinery tyre exported from Israel worldwide, with a combined 56% share of total exports. Denmark, Belgium, the Netherlands, Brazil, Canada, Finland, Spain, Slovakia, Italy and the UK lagged somewhat behind, together accounting for a further 33%.

Canada, with a CAGR of +85.1%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, falling by -9.7% against the previous year. Overall, the export price saw a pronounced setback. The growth pace was the most rapid in 2018 when the average export price increased by 25% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Finland ($X per unit) and the UK ($X per unit), while the average price for exports to Spain ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+10.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Imports into Israel

In 2022, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles into Israel dropped to X units, waning by -10.1% compared with 2021 figures. Overall, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by 68%. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the peak figure at X units in 2021, and then fell in the following year.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles rose rapidly to $X in 2022. Over the period under review, total imports indicated a moderate 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 +90.9% against 2018 indices. The pace of growth was the most pronounced in 2021 with an increase of 57%. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest agricultural, construction and industrial machinery tyre supplier to Israel, accounting for a 52% share of total imports. Moreover, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), fourfold. The third position in this ranking was taken by India (X units), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +18.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+5.9% per year) and India (-4.1% per year).

In value terms, China ($X), India ($X) and Turkey ($X) appeared to be the largest agricultural, construction and industrial machinery tyre suppliers to Israel, together comprising 79% of total imports.

China, with a CAGR of +9.7%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, with an increase of 21% against the previous year. Over the period under review, the import price, however, recorded a perceptible shrinkage. The growth pace was the most rapid in 2013 when the average import price increased by 27% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a somewhat 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 Japan ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+21.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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