Morocco: Market for Lifts, Elevators, Moving Stairways and Draglines 2024

Market Size for Lifts, Elevators, Moving Stairways and Draglines in Morocco

In 2022, the Moroccan market for lifts, elevators, moving stairways and draglines increased by 49% to $X, rising for the second consecutive year after two years of decline. Over the period under review, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +59.1% against 2020 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Lifts, Elevators, Moving Stairways and Draglines

Exports from Morocco

Lift, elevator, stairway and dragline exports from Morocco skyrocketed to X units in 2022, growing by 550% compared with 2021 figures. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 1,800% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, lift, elevator, stairway and dragline exports surged to $X in 2022. In general, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2015 when exports increased by 3,962%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Mauritania (X units) was the main destination for lift, elevator, stairway and dragline exports from Morocco, accounting for a 69% share of total exports. Moreover, lift, elevator, stairway and dragline exports to Mauritania exceeded the volume sent to the second major destination, Burkina Faso (X units), fivefold. Cote d'Ivoire (X units) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mauritania stood at +24.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+41.4% per year) and Cote d'Ivoire (+12.2% per year).

In value terms, Mauritania ($X) emerged as the key foreign market for lifts, elevators, moving stairways and draglines exports from Morocco, comprising 72% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 12% share of total exports. It was followed by Senegal, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Mauritania stood at +27.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+8.3% per year) and Senegal (+24.6% per year).

Export Prices by Country

In 2022, the average export price for lifts, elevators, moving stairways and draglines amounted to $X per unit, shrinking by -38.6% against the previous year. Over the period under review, the export price, however, enjoyed a measured increase. The pace of growth appeared the most rapid in 2018 an increase of 325%. The export price peaked at $X per unit in 2021, and then contracted notably in the following year.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Senegal ($X per unit) and Mauritania ($X per unit), while the average price for exports to Burkina Faso ($X per unit) and Cote d'Ivoire ($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 Senegal (+16.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lifts, Elevators, Moving Stairways and Draglines

Imports into Morocco

In 2022, the amount of lifts, elevators, moving stairways and draglines imported into Morocco surged to X units, jumping by 53% compared with 2021. Overall, imports saw a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lift, elevator, stairway and dragline imports skyrocketed 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 +6.2% 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 +61.0% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 50% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Spain (X units) constituted the largest lift, elevator, stairway and dragline supplier to Morocco, with a 71% share of total imports. Moreover, lift, elevator, stairway and dragline imports from Spain exceeded the figures recorded by the second-largest supplier, China (X units), eightfold. Austria (X units) ranked third in terms of total imports with a 6.6% share.

From 2012 to 2022, the average annual growth rate of volume from Spain amounted to +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.0% per year) and Austria (+139.1% per year).

In value terms, Spain ($X) constituted the largest supplier of lifts, elevators, moving stairways and draglines to Morocco, comprising 67% of total imports. The second position in the ranking was taken by China ($X), with a 9.6% share of total imports. It was followed by Austria, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain stood at +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.9% per year) and Austria (+131.1% per year).

Import Prices by Country

In 2022, the average import price for lifts, elevators, moving stairways and draglines amounted to $X per unit, falling by -2.3% against the previous year. In general, the import price showed a perceptible reduction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 9.6% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Austria ($X per unit) and China ($X per unit), while the price for Spain ($X per unit) and Turkey ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (-2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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