Morocco: Bearing Market 2024

Bearing Market Size in Morocco

In 2022, the Moroccan bearing market increased by X% to $X, rising for the seventh year in a row after three years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Bearing consumption peaked in 2022 and is expected to retain growth in the near future.

Bearing Exports

Exports from Morocco

After two years of decline, shipments abroad of ball or roller bearings increased by X% to X tons in 2022. Over the period under review, exports enjoyed a noticeable expansion. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, bearing exports skyrocketed to $X in 2022. Overall, exports showed a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

South Korea (X tons) was the main destination for bearing exports from Morocco, accounting for a X% share of total exports. Moreover, bearing exports to South Korea exceeded the volume sent to the second major destination, France (X tons), sixfold. The Netherlands (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Korea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and the Netherlands (X% per year).

In value terms, South Korea ($X) emerged as the key foreign market for ball or roller bearings exports from Morocco, comprising X% of total exports. The second position in the ranking was held by France ($X), with an X% share of total exports. It was followed by Sudan, with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Sudan (X% per year).

Export Prices by Country

The average bearing export price stood at $X per ton in 2021, declining by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 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 Gabon ($X per ton), while the average price for exports to South Korea ($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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Morocco

In 2022, approx. X tons of ball or roller bearings were imported into Morocco; growing by X% against 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, bearing imports totaled $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 in certain years. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

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

From 2012 to 2021, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and Spain (X% per year).

In value terms, the largest bearing suppliers to Morocco were France ($X), China ($X) and Germany ($X), together accounting for X% of total imports. Japan, Italy, Spain, the Czech Republic, India and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Japan, with a CAGR of X%, saw the highest growth rate of 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 bearing import price stood at $X per ton in 2021, picking up by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. The import price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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