Israel: Interchangeable Tool Market 2024

Interchangeable Tool Market Size in Israel

The Israeli interchangeable tool market rose slightly to $X in 2022, surging by X% against the previous year. In general, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Interchangeable Tool Production in Israel

In value terms, interchangeable tool production expanded rapidly to $X in 2022 estimated in export price. In general, production, however, saw a slight curtailment. The growth pace was the most rapid in 2020 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Interchangeable Tool Exports

Exports from Israel

In 2022, shipments abroad of interchangeable tools for hand tools increased by X% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, exports, however, recorded a abrupt slump. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, interchangeable tool exports rose markedly to $X in 2022. In general, exports enjoyed prominent growth. The pace of growth was the most pronounced in 2016 with an increase of X%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for interchangeable tool exports from Israel, accounting for a X% share of total exports. Moreover, interchangeable tool exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), twofold. Japan (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Japan (X% per year).

In value terms, the United States ($X), China ($X) and Japan ($X) constituted the largest markets for interchangeable tool exported from Israel worldwide, with a combined X% share of total exports. Germany, Belgium, Russia, India, the UK, Romania, Turkey, South Korea, Italy and Canada lagged somewhat behind, together accounting for a further X%.

Belgium, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of 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

The average interchangeable tool export price stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price, however, showed a significant increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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 China ($X per ton), while the average price for exports to Canada ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Tool Imports

Imports into Israel

For the fourth year in a row, Israel recorded growth in supplies from abroad of interchangeable tools for hand tools, which increased by X% to X tons in 2022. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2017 indices. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, interchangeable tool imports rose notably to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), Germany (X tons) and the United States (X tons) were the main suppliers of interchangeable tool imports to Israel, together comprising X% of total imports. Italy, the UK, South Korea, Austria, Switzerland, the Netherlands, Turkey, Taiwan (Chinese), France and Spain lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest interchangeable tool suppliers to Israel were Germany ($X), China ($X) and the United States ($X), together comprising X% of total imports. Italy, South Korea, the UK, Switzerland, Taiwan (Chinese), Austria, France, the Netherlands, Spain and Turkey lagged somewhat behind, together comprising a further X%.

South Korea, with a CAGR of X%, recorded 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

The average interchangeable tool import price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price, however, continues to indicate a pronounced contraction. The pace of growth was the most pronounced in 2018 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 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 Taiwan (Chinese) ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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