Morocco: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Morocco

The Moroccan cranks and crankshafts market contracted to $X in 2022, waning by -13.7% 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). Over the period under review, consumption, however, enjoyed measured growth. Over the period under review, the market attained the peak level at $X in 2021, and then declined in the following year.

Cranks And Crankshafts Exports

Exports from Morocco

In 2022, the amount of cranks and crankshafts exported from Morocco dropped dramatically to X tons, declining by -41.4% against the previous year's figure. Overall, exports, however, saw a perceptible expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 258% against the previous year. The exports peaked at X tons in 2021, and then reduced markedly in the following year.

In value terms, cranks and crankshafts exports fell markedly to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 285%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Mauritania (X tons), Gabon (X tons) and Turkey (X tons) were the main destinations of cranks and crankshafts exports from Morocco, with a combined 89% share of total exports. Congo, Belgium and France lagged somewhat behind, together comprising a further 7%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Congo (with a CAGR of +83.5%), while the other leaders experienced more modest paces of growth.

In value terms, Congo ($X), Gabon ($X) and Mauritania ($X) constituted the largest markets for cranks and crankshafts exported from Morocco worldwide, together accounting for 69% of total exports.

Congo, with a CAGR of +127.3%, 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 2022, the average cranks and crankshafts export price amounted to $X per ton, shrinking by -6.1% against the previous year. Overall, the export price recorded a pronounced slump. The most prominent rate of growth was recorded in 2017 an increase of 228% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, 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 Congo ($X per ton), while the average price for exports to Turkey ($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 Congo (+23.8%), while the prices for the other major destinations experienced mixed trend patterns.

Cranks And Crankshafts Imports

Imports into Morocco

In 2022, imports of cranks and crankshafts into Morocco dropped to X tons, which is down by -12.3% on 2021. In general, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 72%. Imports peaked at X tons in 2021, and then shrank in the following year.

In value terms, cranks and crankshafts imports fell significantly to $X in 2022. Overall, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% 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 +71.4% against 2015 indices. The pace of growth was the most pronounced in 2021 with an increase of 25% against the previous year. As a result, imports reached the peak of $X, and then reduced markedly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of cranks and crankshafts to Morocco, with a 57% share of total imports. Moreover, cranks and crankshafts imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), fivefold. South Korea (X tons) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+5.6% per year) and South Korea (+28.5% per year).

In value terms, the largest cranks and crankshafts suppliers to Morocco were China ($X), France ($X) and Germany ($X), with a combined 56% share of total imports. The United States, South Korea, Italy, Spain, Turkey and India lagged somewhat behind, together accounting for a further 31%.

South Korea, with a CAGR of +31.7%, recorded the highest rates of growth with regard to 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 cranks and crankshafts import price stood at $X per ton in 2022, falling by -3.8% against the previous year. Overall, the import price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2015 when the average import price increased by 8.6%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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