Morocco: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Morocco

The Moroccan oil dispensing pump market skyrocketed to $X in 2021, with an increase of 84% 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). In general, consumption, however, recorded a perceptible setback. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Oil Dispensing Pump Exports

Exports from Morocco

Oil dispensing pump exports from Morocco soared to X units in 2021, growing by 825% against 2020 figures. In general, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, oil dispensing pump exports surged to $X in 2021. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 445% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Mauritania (X units) was the main destination for oil dispensing pump exports from Morocco, accounting for a 78% share of total exports. Moreover, oil dispensing pump exports to Mauritania exceeded the volume sent to the second major destination, Italy (X units), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mauritania stood at +78.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+42.6% per year) and Cote d'Ivoire (-8.2% per year).

In value terms, Mauritania ($X) remains the key foreign market for petrol and oil dispensing pumps exports from Morocco, comprising 79% of total exports. The second position in the ranking was taken by Italy ($X), with a 7.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Mauritania amounted to +101.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+83.1% per year) and Cote d'Ivoire (+162.8% per year).

Export Prices by Country

In 2021, the average oil dispensing pump export price amounted to $X per unit, declining by -44.3% against the previous year. In general, the export price, however, continues to indicate a prominent increase. The pace of growth was the most pronounced in 2013 when the average export price increased by 1,226%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Cote d'Ivoire ($X per unit), while the average price for exports to Italy ($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 Mauritania (+5.9%), while the prices for the other major destinations experienced a decline.

Oil Dispensing Pump Imports

Imports into Morocco

In 2021, purchases abroad of petrol and oil dispensing pumps was finally on the rise to reach X units after three years of decline. In general, imports, however, continue to indicate a deep downturn. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, oil dispensing pump imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -3.2% against 2017 indices. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Hong Kong SAR (X units), the United States (X units) and India (X units) were the main suppliers of oil dispensing pump imports to Morocco, together comprising 35% of total imports. Italy, China, Brazil, Turkey, the UK, Cyprus, France and Sweden lagged somewhat behind, together comprising a further 35%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +26.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest oil dispensing pump suppliers to Morocco were India ($X), Brazil ($X) and the UK ($X), together comprising 48% of total imports. Turkey, China, Italy, the United States, France, Cyprus, Hong Kong SAR and Sweden lagged somewhat behind, together accounting for a further 18%.

Turkey, with a CAGR of +57.1%, saw the highest growth rate of the value of imports, in terms of 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 2021, the average oil dispensing pump import price amounted to $X per unit, growing by 7.2% against the previous year. Overall, the import price saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by 175% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Sweden ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+45.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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