Morocco: Market for Drive-Axles with Differential and Non-Driving Axles 2024

Market Size for Drive-Axles with Differential and Non-Driving Axles in Morocco

The Moroccan driving and non-driving axle market surged to $X in 2021, with an increase of 517% 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). Overall, consumption posted a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Drive-Axles with Differential and Non-Driving Axles

Exports from Morocco

Driving and non-driving axle exports from Morocco surged to X tons in 2021, jumping by 248% on the year before. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 262%. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, driving and non-driving axle exports surged to $X in 2021. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 294%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Romania (X tons) was the main destination for driving and non-driving axle exports from Morocco, with a 47% share of total exports. Moreover, driving and non-driving axle exports to Romania exceeded the volume sent to the second major destination, Italy (X tons), twofold. France (X tons) ranked third in terms of total exports with an 18% share.

From 2012 to 2021, the average annual growth rate of volume to Romania totaled +269.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+32.9% per year) and France (+65.0% per year).

In value terms, the largest markets for driving and non-driving axle exported from Morocco were Romania ($X), Italy ($X) and France ($X), together accounting for 92% of total exports.

Romania, with a CAGR of +269.5%, saw the highest growth rate of 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 driving and non-driving axle export price stood at $X per ton in 2021, declining by -7.1% against the previous year. In general, the export price recorded a abrupt curtailment. The growth pace was the most rapid in 2020 an increase of 77% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per ton), while the average price for exports to Spain ($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 Nigeria (+32.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Drive-Axles with Differential and Non-Driving Axles

Imports into Morocco

In 2021, approx. X tons of drive-axles with differential and non-driving axles were imported into Morocco; picking up by 330% against the previous year. In general, imports saw a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, driving and non-driving axle imports surged to $X in 2021. Overall, imports posted a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

France (X tons), Romania (X tons) and Spain (X tons) were the main suppliers of driving and non-driving axle imports to Morocco, with a combined 74% share of total imports. These countries were followed by Poland, India, China and Portugal, which together accounted for a further 23%.

From 2012 to 2021, the biggest increases were in Poland (with a CAGR of +144.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Spain ($X) and Romania ($X) appeared to be the largest driving and non-driving axle suppliers to Morocco, with a combined 80% share of total imports. These countries were followed by India, Poland, China and Portugal, which together accounted for a further 17%.

Among the main suppliers, Poland, with a CAGR of +180.5%, recorded 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

In 2021, the average driving and non-driving axle import price amounted to $X per ton, surging by 60% against the previous year. In general, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, driving and non-driving axle import price increased by +96.1% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+14.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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