Morocco: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in Morocco

The Moroccan jacks and hoists market was finally on the rise to reach $X in 2022, after four years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Jacks And Hoists Production in Morocco

In value terms, jacks and hoists production reached $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by 39% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Jacks And Hoists Exports

Exports from Morocco

In 2022, the amount of jacks and hoists for raising vehicles exported from Morocco reduced sharply to X units, dropping by -85.1% against the previous year. Overall, exports showed a sharp decrease. The most prominent rate of growth was recorded in 2014 with an increase of 1,124% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, jacks and hoists exports reduced sharply to $X in 2022. Over the period under review, exports faced a deep reduction. The most prominent rate of growth was recorded in 2014 with an increase of 1,481% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Sudan (X units), Mauritania (X units) and Guinea (X units) were the main destinations of jacks and hoists exports from Morocco, together accounting for 50% 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 Guinea (with a CAGR of +17.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for jacks and hoists exported from Morocco were Guinea ($X), France ($X) and Sudan ($X), with a combined 49% share of total exports.

Guinea, with a CAGR of +65.1%, recorded the highest rates of growth with regard to the value of exports, among 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 jacks and hoists export price stood at $X per unit in 2022, rising by 99% against the previous year. Overall, the export price recorded a slight increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guinea (+40.6%), while the prices for the other major destinations experienced more modest paces of growth.

Jacks And Hoists Imports

Imports into Morocco

In 2022, after two years of decline, there was growth in overseas purchases of jacks and hoists for raising vehicles, when their volume increased by 2.7% to X units. Overall, imports, however, continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 35% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, jacks and hoists imports expanded markedly to $X in 2022. Over the period under review, imports, however, continue to indicate a noticeable setback. The growth pace was the most rapid in 2016 when imports increased by 43%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Spain (X units) constituted the largest jacks and hoists supplier to Morocco, with a 66% share of total imports. Moreover, jacks and hoists imports from Spain exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was held by Turkey (X units), with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.7% per year) and Turkey (+25.4% per year).

In value terms, the largest jacks and hoists suppliers to Morocco were France ($X), Spain ($X) and Italy ($X), with a combined 52% share of total imports. Germany, China and Turkey lagged somewhat behind, together comprising a further 35%.

China, with a CAGR of +13.0%, recorded the highest growth rate of 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

In 2022, the average jacks and hoists import price amounted to $X per unit, with an increase of 4.1% against the previous year. Overall, the import price, however, continues to indicate a slight setback. The pace of growth was the most pronounced in 2021 when the average import price increased by 13%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+20.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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