Morocco: Lift And Hoist Market 2024

Lift And Hoist Market Size in Morocco

The Moroccan lift and hoist market surged to $X in 2022, rising by 31% 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, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +38.4% against 2020 indices. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the near future.

Lift And Hoist Exports

Exports from Morocco

In 2022, approx. X units of lifts and hoists were exported from Morocco; with an increase of 2,157% against 2021. In general, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lift and hoist exports soared to $X in 2022. Overall, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mauritania (X units) was the main destination for lift and hoist exports from Morocco, accounting for a 92% share of total exports. Moreover, lift and hoist exports to Mauritania exceeded the volume sent to the second major destination, Burkina Faso (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mauritania amounted to +64.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+24.6% per year) and Cote d'Ivoire (+7.2% per year).

In value terms, Mauritania ($X) emerged as the key foreign market for lifts and hoists exports from Morocco, comprising 74% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Mauritania stood at +90.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+72.8% per year) and Cote d'Ivoire (+13.1% per year).

Export Prices by Country

The average lift and hoist export price stood at $X per unit in 2022, growing by 52% against the previous year. Overall, the export price saw a moderate increase. The growth pace was the most rapid in 2018 an increase of 1,181% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while the average price for exports to Mauritania ($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 Burkina Faso (+38.7%), while the prices for the other major destinations experienced more modest paces of growth.

Lift And Hoist Imports

Imports into Morocco

Lift and hoist imports into Morocco soared to X units in 2022, rising by 41% on 2021. In general, imports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2019 with an increase of 49%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, lift and hoist imports surged to $X in 2022. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 +47.6% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Spain (X units) constituted the largest supplier of lift and hoist to Morocco, accounting for a 78% share of total imports. Moreover, lift and hoist imports from Spain exceeded the figures recorded by the second-largest supplier, China (X units), tenfold. Turkey (X units) ranked third in terms of total imports with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain totaled +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.6% per year) and Turkey (+16.0% per year).

In value terms, Spain ($X) constituted the largest supplier of lifts and hoists to Morocco, comprising 78% of total imports. The second position in the ranking was taken by China ($X), with an 8% share of total imports. It was followed by Turkey, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain totaled +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.4% per year) and Turkey (+12.7% per year).

Import Prices by Country

In 2022, the average lift and hoist import price amounted to $X per unit, with a decrease of -3% against the previous year. In general, the import price showed a pronounced decrease. The growth pace was the most rapid in 2020 when the average import price increased by 31% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were France ($X per unit) and Italy ($X per unit), while the price for Turkey ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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