Morocco: Market for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels 2022

Market Size for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in Morocco

In 2021, after three years of growth, there was significant decline in the Moroccan market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, when its value decreased by -76.4% to $X. Over the period under review, consumption continues to indicate a deep reduction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Exports from Morocco

In 2021, after two years of decline, there was significant growth in overseas shipments of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, when their volume increased by 9% to X units. In general, exports, however, showed a deep reduction. The pace of growth was the most pronounced in 2013 when exports increased by 111% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, grease fittings and oil seals exports dropped to $X in 2021. Over the period under review, exports, however, recorded a perceptible reduction. The growth pace was the most rapid in 2013 with an increase of 68% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

France (X units), Portugal (X units) and Burkina Faso (X units) were the main destinations of grease fittings and oil seals exports from Morocco, with a combined 79% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Portugal (with a CAGR of +92.4%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X) remains the key foreign market for grease fittings and oil seals exports from Morocco, comprising 51% of total exports. The second position in the ranking was taken by Portugal ($X), with a 15% share of total exports. It was followed by Switzerland, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value to France stood at +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+91.1% per year) and Switzerland (+50.8% per year).

Export Prices by Country

In 2021, the average export price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels amounted to $X per unit, dropping by -19.9% against the previous year. Overall, the export price, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2016 when the average export price increased by 68%. The export price peaked at $X per unit in 2020, and then dropped dramatically in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Senegal ($X per unit), while the average price for exports to Germany ($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 Senegal (+39.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Imports into Morocco

In 2021, supplies from abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels decreased by -80.5% to X units for the first time since 2017, thus ending a three-year rising trend. In general, imports faced a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 125%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, grease fittings and oil seals imports dropped markedly to $X in 2021. Overall, imports recorded a deep contraction. The growth pace was the most rapid in 2014 with an increase of 182% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X units), Italy (X units) and Japan (X units) were the main suppliers of grease fittings and oil seals imports to Morocco, with a combined 43% share of total imports. These countries were followed by Spain, France, Germany, Portugal, India, Poland, Switzerland, Turkey, Taiwan (Chinese) and the UK, which together accounted for a further 50%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +204.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X) constituted the largest supplier of grease fittings and oil seals to Morocco, comprising 39% of total imports. The second position in the ranking was held by Germany ($X), with a 12% share of total imports. It was followed by France, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Switzerland stood at +58.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.3% per year) and France (-12.6% per year).

Import Prices by Country

The average import price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $X per unit in 2021, picking up by 41% against the previous year. Overall, the import price posted a resilient expansion. The pace of growth appeared the most rapid in 2015 when the average import price increased by 52%. The import price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Switzerland ($X per unit), while the price for Portugal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+24.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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