Morocco: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Morocco

The Moroccan balancing mechanical parts machine market soared to $X in 2021, jumping by 22% 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). Over the period under review, consumption saw a significant increase. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in the near future.

Exports of Machines For Balancing Mechanical Parts

Exports from Morocco

In 2021, shipments abroad of machines for balancing mechanical parts was finally on the rise to reach X units after two years of decline. In general, exports, however, continue to indicate a abrupt contraction. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, balancing mechanical parts machine exports soared to $X in 2021. Overall, exports, however, saw a abrupt slump. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Spain (X units) was the main destination for balancing mechanical parts machine exports from Morocco, with a 88% share of total exports. Moreover, balancing mechanical parts machine exports to Spain exceeded the volume sent to the second major destination, Portugal (X units), ninefold.

From 2012 to 2021, the average annual growth rate of volume to Spain amounted to -4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (-30.9% per year) and Burkina Faso (0.0% per year).

In value terms, Spain ($X) emerged as the key foreign market for machines for balancing mechanical parts exports from Morocco, comprising 92% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 6.7% share of total exports. It was followed by Portugal, with a 1% share.

From 2012 to 2021, the average annual growth rate of value to Spain amounted to +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (0.0% per year) and Portugal (-40.5% per year).

Export Prices by Country

The average balancing mechanical parts machine export price stood at $X per unit in 2021, which is down by -69.7% against the previous year. In general, the export price, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2020 an increase of 159%. As a result, the export price reached the peak level of $X per unit, and then reduced rapidly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Burkina Faso ($X per unit), while the average price for exports to Portugal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+101.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Balancing Mechanical Parts

Imports into Morocco

In 2021, purchases abroad of machines for balancing mechanical parts increased by 13% to X units, rising for the third consecutive year after two years of decline. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 290% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, balancing mechanical parts machine imports surged to $X in 2021. Overall, imports saw a strong expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 136% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

South Korea (X units), China (X units) and Italy (X units) were the main suppliers of balancing mechanical parts machine imports to Morocco, together accounting for 88% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +99.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of machines for balancing mechanical parts to Morocco, comprising 47% of total imports. The second position in the ranking was taken by South Korea ($X), with a 23% share of total imports. It was followed by France, with a 9.4% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +107.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+105.4% per year) and France (+16.5% per year).

Import Prices by Country

In 2021, the average balancing mechanical parts machine import price amounted to $X per unit, jumping by 16% against the previous year. In general, the import price, however, continues to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2015 when the average import price increased by 70%. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was France ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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