Morocco: Electrical Insulator Market 2024

Electrical Insulator Market Size in Morocco

The Moroccan electrical insulator market dropped notably to $X in 2022, falling by -20.1% 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 continues to indicate a drastic downturn. Electrical insulator consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Electrical Insulator Exports

Exports from Morocco

In 2022, approx. X units of electrical insulators were exported from Morocco; with a decrease of -12.4% against the previous year. Overall, exports, however, showed noticeable growth. The most prominent rate of growth was recorded in 2013 when exports increased by 179% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, electrical insulator exports contracted dramatically to $X in 2022. Over the period under review, exports, however, showed a strong expansion. The growth pace was the most rapid in 2019 with an increase of 113% against the previous year. The exports peaked at $X in 2021, and then shrank significantly in the following year.

Exports by Country

Cote d'Ivoire (X units) was the main destination for electrical insulator exports from Morocco, accounting for a 37% share of total exports. Moreover, electrical insulator exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Guinea (X units), threefold. The third position in this ranking was taken by Benin (X units), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Cote d'Ivoire amounted to -3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guinea (+4.5% per year) and Benin (+17.1% per year).

In value terms, Cote d'Ivoire ($X) remains the key foreign market for electrical insulators exports from Morocco, comprising 37% of total exports. The second position in the ranking was held by Guinea ($X), with a 14% share of total exports. It was followed by Benin, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Cote d'Ivoire amounted to +18.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guinea (+14.6% per year) and Benin (+35.0% per year).

Export Prices by Country

In 2022, the average electrical insulator export price amounted to $X per unit, with a decrease of -31.6% against the previous year. Over the period under review, the export price, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2019 when the average export price increased by 264%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Cote d'Ivoire ($X per unit) and Guinea ($X per unit), while the average price for exports to Senegal ($X per unit) and Niger ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+22.3%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Insulator Imports

Imports into Morocco

After two years of growth, supplies from abroad of electrical insulators decreased by -7.6% to X units in 2022. Overall, imports showed a pronounced downturn. The growth pace was the most rapid in 2017 when imports increased by 41%. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, electrical insulator imports fell rapidly to $X in 2022. In general, imports saw a abrupt downturn. The pace of growth appeared the most rapid in 2017 with an increase of 59%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Italy (X units), Spain (X units) and China (X units) were the main suppliers of electrical insulator imports to Morocco, with a combined 80% share of total imports. Turkey, Portugal, India, Germany and Switzerland lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +59.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of electrical insulators to Morocco, comprising 33% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by Turkey, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Italy amounted to +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-9.2% per year) and Turkey (+63.6% per year).

Import Prices by Country

In 2022, the average electrical insulator import price amounted to $X per unit, which is down by -26.2% against the previous year. In general, the import price recorded a mild downturn. The most prominent rate of growth was recorded in 2014 an increase of 41%. The import price peaked at $X per unit in 2017; however, from 2018 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 India ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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