Morocco: Shaft Coupling Market 2024

Shaft Coupling Market Size in Morocco

For the fourth year in a row, the Moroccan shaft coupling market recorded growth in sales value, which increased by 9% to $X in 2022. In general, consumption, however, enjoyed a buoyant increase. Shaft coupling consumption peaked in 2022 and is likely to continue growth in the near future.

Shaft Coupling Exports

Exports from Morocco

In 2022, shipments abroad of clutches and shaft couplings decreased by -57.4% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 667%. The exports peaked at X tons in 2021, and then declined notably in the following year.

In value terms, shaft coupling exports dropped sharply to $X in 2022. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 496%. Over the period under review, the exports hit record highs at $X in 2021, and then fell markedly in the following year.

Exports by Country

France (X tons), Denmark (X tons) and Mauritania (X tons) were the main destinations of shaft coupling exports from Morocco, together accounting for 86% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +70.9%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X) remains the key foreign market for clutches and shaft couplings exports from Morocco, comprising 53% of total exports. The second position in the ranking was taken by Mauritania ($X), with a 16% share of total exports. It was followed by Denmark, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to France stood at +87.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritania (+54.2% per year) and Denmark (0.0% per year).

Export Prices by Country

The average shaft coupling export price stood at $X per ton in 2022, jumping by 35% against the previous year. Over the period under review, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, shaft coupling export price increased by +56.2% against 2019 indices. The pace of growth was the most pronounced in 2013 an increase of 74%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a 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 Senegal ($X per ton), while the average price for exports to Denmark ($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 Senegal (+16.3%), while the prices for the other major destinations experienced more modest paces of growth.

Shaft Coupling Imports

Imports into Morocco

In 2022, after three years of growth, there was significant decline in supplies from abroad of clutches and shaft couplings, when their volume decreased by -9.3% to X tons. Over the period under review, imports, however, posted a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of 54% against the previous year. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, shaft coupling imports soared to $X in 2022. In general, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +49.2% against 2018 indices. The growth pace was the most rapid in 2016 with an increase of 89% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of shaft coupling to Morocco, with a 65% share of total imports. Moreover, shaft coupling imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), fivefold. The third position in this ranking was held by Germany (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +24.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+15.5% per year) and Germany (+5.2% per year).

In value terms, the largest shaft coupling suppliers to Morocco were Italy ($X), China ($X) and Germany ($X), together accounting for 74% of total imports.

In terms of the main suppliers, China, with a CAGR of +32.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average shaft coupling import price stood at $X per ton in 2022, increasing by 34% against the previous year. Over the period under review, the import price, however, showed a deep setback. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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