Morocco: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Morocco

The Moroccan machine-tool for drilling market skyrocketed to $X in 2022, jumping by 24% 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 showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Machine-Tool For Drilling Exports

Exports from Morocco

In 2022, approx. X units of machine-tools for drilling, boring or milling metal were exported from Morocco; which is down by -25.8% compared with the previous year's figure. In general, exports faced a deep contraction. The pace of growth was the most pronounced in 2021 when exports increased by 288%. Over the period under review, the exports attained the peak figure at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, machine-tool for drilling exports reduced rapidly to $X in 2022. Over the period under review, exports recorded a abrupt descent. The pace of growth was the most pronounced in 2021 with an increase of 995% against the previous year. As a result, the exports attained the peak of $X, and then dropped remarkably in the following year.

Exports by Country

The Netherlands (X units), Burkina Faso (X units) and Portugal (X units) were the main destinations of machine-tool for drilling exports from Morocco, with a combined 88% share of total exports. Moreover, machine-tool for drilling exports in the Netherlands exceeded the figures recorded by the second-largest exporter, Burkina Faso, twofold.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +69.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X) remains the key foreign market for machine-tools for drilling, boring or milling metal exports from Morocco, comprising 67% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a 10% share of total exports. It was followed by Spain, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands totaled +287.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+16.1% per year) and Spain (-27.2% per year).

Export Prices by Country

The average machine-tool for drilling export price stood at $X per unit in 2022, falling by -74.6% against the previous year. In general, the export price, however, showed a buoyant increase. The pace of growth was the most pronounced in 2016 an increase of 515% against the previous year. The export price peaked at $X per unit in 2021, and then plummeted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to South Africa ($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 the Netherlands (+128.8%), while the prices for the other major destinations experienced more modest paces of growth.

Machine-Tool For Drilling Imports

Imports into Morocco

In 2022, machine-tool for drilling imports into Morocco skyrocketed to X units, picking up by 32% on 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 780%. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, machine-tool for drilling imports reduced rapidly to $X in 2022. Overall, imports, however, recorded a mild decline. The pace of growth appeared the most rapid in 2019 with an increase of 54% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Japan (X units) and Italy (X units) were the main suppliers of machine-tool for drilling imports to Morocco, with a combined 84% share of total imports. Germany, Turkey and Spain lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +21.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of machine-tools for drilling, boring or milling metal to Morocco, comprising 33% of total imports. The second position in the ranking was taken by Italy ($X), with an 11% share of total imports. It was followed by Turkey, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +25.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+7.4% per year) and Turkey (+17.7% per year).

Import Prices by Country

In 2022, the average machine-tool for drilling import price amounted to $X per unit, falling by -41.5% against the previous year. Over the period under review, the import price continues to indicate a mild curtailment. The pace of growth was the most pronounced in 2021 when the average import price increased by 709%. Over the period under review, average import prices attained the peak figure 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 Turkey ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+22.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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