Morocco: Ball Bearing Market 2024

Ball Bearing Market Size in Morocco

In 2021, the Moroccan ball bearing market increased by 21% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level in 2021 and is likely to see gradual growth in the immediate term.

Ball Bearing Exports

Exports from Morocco

In 2021, ball bearing exports from Morocco dropped remarkably to X tons, falling by -56.7% on the previous year's figure. Overall, exports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 60% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, ball bearing exports declined rapidly to $X in 2021. Over the period under review, exports continue to indicate a pronounced setback. The pace of growth appeared the most rapid in 2013 when exports increased by 260%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

France (X tons) was the main destination for ball bearing exports from Morocco, accounting for a 51% share of total exports. Moreover, ball bearing exports to France exceeded the volume sent to the second major destination, Spain (X kg), twofold. The third position in this ranking was held by the Netherlands (X kg), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to France stood at +33.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+13.8% per year) and the Netherlands (-27.7% per year).

In value terms, the largest markets for ball bearing exported from Morocco were France ($X), Spain ($X) and the Netherlands ($X), together comprising 61% of total exports. Gabon, Senegal, Sudan, Cote d'Ivoire, Mauritania and Burkina Faso lagged somewhat behind, together comprising a further 25%.

Senegal, with a CAGR of +68.4%, 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

In 2021, the average ball bearing export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the export price, however, showed a prominent increase. The most prominent rate of growth was recorded in 2013 an increase of 250%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Gabon ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (+30.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into Morocco

In 2021, after four years of decline, there was significant growth in purchases abroad of ball bearings, when their volume increased by 15% to X tons. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 46%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, ball bearing imports skyrocketed to $X in 2021. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 32%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of ball bearing to Morocco, accounting for a 54% share of total imports. Moreover, ball bearing imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), fivefold. The third position in this ranking was held by France (X tons), with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+12.9% per year) and France (-0.7% per year).

In value terms, the largest ball bearing suppliers to Morocco were China ($X), France ($X) and Germany ($X), together accounting for 53% of total imports. These countries were followed by Spain, Japan, Italy and the United Arab Emirates, which together accounted for a further 30%.

Among the main suppliers, the United Arab Emirates, with a CAGR of +8.6%, 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 ball bearing import price stood at $X per ton in 2021, surging by 4.8% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 13%. 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, the country with the highest price was Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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