Israel: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in Israel

The Israeli passenger car tyre market rose remarkably to $X in 2021, picking up by 5.3% against the previous year. Overall, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +56.1% against 2016 indices. Passenger car tyre consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Passenger Car Tyre Production in Israel

In value terms, passenger car tyre production reduced to $X in 2021 estimated in export price. In general, production continues to indicate a noticeable reduction. The pace of growth was the most pronounced in 2018 with an increase of 60% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Passenger Car Tyre Exports

Exports from Israel

For the seventh year in a row, Israel recorded decline in shipments abroad of tyres for motor cars, which decreased by -15% to X units in 2021. Overall, exports recorded a sharp descent. The growth pace was the most rapid in 2014 with an increase of 0.8% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, passenger car tyre exports declined to $X in 2021. Over the period under review, exports faced a dramatic descent. The smallest decline of -0.3% was in 2014. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Belgium (X units), the Netherlands (X units) and the United States (X units) were the main destinations of passenger car tyre exports from Israel, with a combined 98% share of total exports. These countries were followed by Ghana, which accounted for a further 1.5%.

From 2012 to 2021, the biggest increases were recorded for Ghana (with a CAGR of -14.0%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for passenger car tyre exported from Israel were Belgium ($X), the Netherlands ($X) and the United States ($X), with a combined 98% share of total exports. These countries were followed by Ghana, which accounted for a further 1.7%.

Among the main countries of destination, Ghana, with a CAGR of -14.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average passenger car tyre export price stood at $X per unit in 2021, growing by 1.7% against the previous year. In general, the export price, however, showed a slight decline. The most prominent rate of growth was recorded in 2018 an increase of 11%. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, the highest price was recorded for prices to Ghana ($X per unit) and the United States ($X per unit), while the average price for exports to Belgium ($X per unit) and the Netherlands ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (-0.0%), while the prices for the other major destinations experienced a decline.

Passenger Car Tyre Imports

Imports into Israel

In 2021, approx. X units of tyres for motor cars were imported into Israel; with an increase of 22% compared with 2020 figures. The total import volume increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by 28%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, passenger car tyre imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +91.4% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest passenger car tyre supplier to Israel, with a 48% share of total imports. Moreover, passenger car tyre imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), sevenfold. Turkey (X units) ranked third in terms of total imports with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.7% per year) and Turkey (-2.4% per year).

In value terms, China ($X) constituted the largest supplier of tyres for motor cars to Israel, comprising 48% of total imports. The second position in the ranking was held by Japan ($X), with a 6.4% share of total imports. It was followed by Turkey, with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.0% per year) and Turkey (-3.2% per year).

Import Prices by Country

The average passenger car tyre import price stood at $X per unit in 2021, rising by 11% against the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2015 when the average import price increased by 20% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Romania ($X per unit) and Turkey ($X per unit), while the price for the United Arab Emirates ($X per unit) and the Netherlands ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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