Israel: Market for Agricultural And Forestry Tractors 2023

Market Size for Agricultural And Forestry Tractors in Israel

The Israeli agricultural and forestry tractor market skyrocketed to $X in 2021, rising by 86% 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). Overall, the total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Exports of Agricultural And Forestry Tractors

Exports from Israel

In 2021, after two years of growth, there was significant decline in shipments abroad of agricultural and forestry tractors, when their volume decreased by -40.3% to X units. Over the period under review, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 362% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2020, and then reduced remarkably in the following year.

In value terms, agricultural and forestry tractor exports contracted notably to $X in 2021. In general, exports, however, recorded a slight expansion. The pace of growth was the most pronounced in 2017 when exports increased by 460% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Jordan (X units) was the main destination for agricultural and forestry tractor exports from Israel, with a 96% share of total exports. Moreover, agricultural and forestry tractor exports to Jordan exceeded the volume sent to the second major destination, Hong Kong SAR (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Jordan stood at +27.3%.

In value terms, Jordan ($X) emerged as the key foreign market for agricultural and forestry tractors exports from Israel, comprising 98% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 2.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Jordan stood at +22.0%.

Export Prices by Country

In 2021, the average agricultural and forestry tractor export price amounted to $X per unit, shrinking by -2.2% against the previous year. Over the period under review, the export price saw a noticeable slump. The growth pace was the most rapid in 2017 an increase of 21%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.7%).

Imports of Agricultural And Forestry Tractors

Imports into Israel

In 2021, the amount of agricultural and forestry tractors imported into Israel soared to X units, increasing by 69% on the previous year. Overall, imports, however, continue to indicate a perceptible shrinkage. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, agricultural and forestry tractor imports soared to $X in 2021. In general, total imports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Italy (X units) constituted the largest agricultural and forestry tractor supplier to Israel, accounting for a 45% share of total imports. Moreover, agricultural and forestry tractor imports from Italy exceeded the figures recorded by the second-largest supplier, the United States (X units), fourfold. The third position in this ranking was taken by Germany (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy totaled +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-18.7% per year) and Germany (+19.1% per year).

In value terms, Italy ($X), the United States ($X) and Germany ($X) appeared to be the largest agricultural and forestry tractor suppliers to Israel, together comprising 67% of total imports. These countries were followed by Japan, India, China, Turkey, the UK and South Korea, which together accounted for a further 28%.

Among the main suppliers, Japan, with a CAGR of +90.6%, 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

The average agricultural and forestry tractor import price stood at $X per unit in 2021, picking up by 5.1% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, agricultural and forestry tractor import price increased by +23.5% against 2016 indices. The growth pace was the most rapid in 2014 when the average import price increased by 59% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+90.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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