Morocco: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Morocco

The Moroccan self-propelled boring machinery market declined notably to $X in 2022, dropping by -24% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Self-propelled boring machinery consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Self-Propelled Boring Machinery Production in Morocco

In value terms, self-propelled boring machinery production amounted to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 294,147,700%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Self-Propelled Boring Machinery Exports

Exports from Morocco

Self-propelled boring machinery exports from Morocco dropped rapidly to X units in 2022, with a decrease of -56.2% against 2021 figures. Over the period under review, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 200% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, self-propelled boring machinery exports contracted sharply to $X in 2022. In general, exports showed a mild downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 634% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Burkina Faso (X units), Egypt (X units) and Cote d'Ivoire (X units) were the main destinations of self-propelled boring machinery exports from Morocco, with a combined 86% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +26.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X) emerged as the key foreign market for self-propelled boring or sinking machinery exports from Morocco, comprising 53% of total exports. The second position in the ranking was held by Egypt ($X), with a 27% share of total exports. It was followed by Cote d'Ivoire, with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Burkina Faso stood at +10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+39.7% per year) and Cote d'Ivoire (+3.2% per year).

Export Prices by Country

In 2022, the average self-propelled boring machinery export price amounted to $X per unit, picking up by 21% against the previous year. Over the period under review, the export price recorded a tangible expansion. The pace of growth was the most pronounced in 2016 an increase of 430%. Over the period under review, the average export prices attained the maximum at $X per unit in 2019; however, from 2020 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 Cote d'Ivoire ($X per unit), while the average price for exports to Senegal ($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 Turkey (+21.9%), while the prices for the other major destinations experienced more modest paces of growth.

Self-Propelled Boring Machinery Imports

Imports into Morocco

Self-propelled boring machinery imports into Morocco shrank markedly to X units in 2022, reducing by -46.3% against 2021 figures. In general, imports continue to indicate a noticeable decline. The growth pace was the most rapid in 2018 with an increase of 230%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, self-propelled boring machinery imports reduced markedly to $X in 2022. Over the period under review, imports showed a mild slump. The pace of growth appeared the most rapid in 2018 when imports increased by 107% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Sweden (X units), Finland (X units) and China (X units) were the main suppliers of self-propelled boring machinery imports to Morocco, with a combined 50% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +14.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest self-propelled boring machinery suppliers to Morocco were Sweden ($X), Finland ($X) and China ($X), together accounting for 56% of total imports.

In terms of the main suppliers, China, with a CAGR of +44.6%, saw the highest growth rate of the value of imports, 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 self-propelled boring machinery import price amounted to $X per unit, picking up by 41% against the previous year. Overall, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, self-propelled boring machinery import price increased by +22.9% against 2017 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by 80% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+29.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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