Morocco: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Exports

Exports from Morocco

In 2022, shipments abroad of non-electric industrial or laboratory furnaces and ovens increased by 30% to X units, rising for the second consecutive year after two years of decline. Overall, exports, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2018 when exports increased by 511% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, non-electric industrial furnace exports surged to $X in 2022. Over the period under review, exports, however, faced a deep downturn. The pace of growth was the most pronounced in 2018 with an increase of 689%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Guinea (X units) was the main destination for non-electric industrial furnace exports from Morocco, with a 72% share of total exports. Moreover, non-electric industrial furnace exports to Guinea exceeded the volume sent to the second major destination, Germany (X units), fivefold. The third position in this ranking was held by France (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Guinea totaled +100.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+9.1% per year) and France (-15.2% per year).

In value terms, Guinea ($X) emerged as the key foreign market for non-electric industrial or laboratory furnaces and ovens exports from Morocco, comprising 89% of total exports. The second position in the ranking was taken by Germany ($X), with a 4.6% share of total exports. It was followed by Mali, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value to Guinea amounted to +123.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-33.8% per year) and Mali (+19.5% per year).

Export Prices by Country

The average non-electric industrial furnace export price stood at $X per unit in 2022, increasing by 38% against the previous year. Overall, the export price posted prominent growth. The pace of growth appeared the most rapid in 2019 when the average export price increased by 134% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Mali ($X per unit), while the average price for exports to France ($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 Mali (+34.0%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Industrial Furnace Imports

Imports into Morocco

Non-electric industrial furnace imports into Morocco soared to X units in 2022, picking up by 67% compared with the previous year. Overall, imports saw a slight increase. The pace of growth appeared the most rapid in 2018 with an increase of 258% against the previous year. Over the period under review, imports hit record highs at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, non-electric industrial furnace imports contracted to $X in 2022. In general, imports enjoyed a temperate expansion. The pace of growth appeared the most rapid in 2018 with an increase of 339% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, South Korea (X units) constituted the largest non-electric industrial furnace supplier to Morocco, accounting for a 43% share of total imports. Moreover, non-electric industrial furnace imports from South Korea exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The third position in this ranking was held by Turkey (X units), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea totaled +198.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+108.3% per year) and Turkey (-7.1% per year).

In value terms, the largest non-electric industrial furnace suppliers to Morocco were South Korea ($X), Germany ($X) and Turkey ($X), with a combined 76% share of total imports.

South Korea, with a CAGR of +244.9%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average non-electric industrial furnace import price amounted to $X per unit, declining by -42.8% against the previous year. In general, the import price, however, saw a mild expansion. The pace of growth appeared the most rapid in 2021 when the average import price increased by 133% against the previous year. As a result, import price reached the peak level of $X per unit, and then declined remarkably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+50.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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