Morocco: Ship Propeller Market 2024

Ship Propeller Market Size in Morocco

The Moroccan ship propeller market fell notably to $X in 2022, declining by -36.6% against the previous year. In general, consumption continues to indicate a abrupt shrinkage. Ship propeller consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Ship Propeller Production in Morocco

In value terms, ship propeller production fell slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2019 when the production volume increased by 23%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Ship Propeller Exports

Exports from Morocco

In 2022, exports of ships’ or boats’ propellers and blades therefor from Morocco soared to X tons, growing by 23% against 2021 figures. Over the period under review, exports, however, showed a slight decrease. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, ship propeller exports soared to $X in 2022. In general, exports showed a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Portugal (X tons) was the main destination for ship propeller exports from Morocco, accounting for a 44% share of total exports. Moreover, ship propeller exports to Portugal exceeded the volume sent to the second major destination, Germany (X tons), more than tenfold. The third position in this ranking was taken by the Netherlands (X tons), with a 1.9% share.

From 2012 to 2022, the average annual growth rate of volume to Portugal totaled +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+19.1% per year) and the Netherlands (+4.2% per year).

In value terms, Portugal ($X) remains the key foreign market for ships’ or boats’ propellers and blades therefor exports from Morocco, comprising 42% of total exports. The second position in the ranking was taken by Germany ($X), with a 4.8% share of total exports. It was followed by the Netherlands, with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Portugal stood at +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+20.4% per year) and the Netherlands (+5.8% per year).

Export Prices by Country

In 2022, the average ship propeller export price amounted to $X per ton, increasing by 31% against the previous year. Overall, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ship propeller export price increased by +76.5% against 2015 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Ship Propeller Imports

Imports into Morocco

In 2022, the amount of ships’ or boats’ propellers and blades therefor imported into Morocco declined notably to X tons, dropping by -19.8% on the previous year's figure. Overall, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2014 when imports increased by 138% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, ship propeller imports contracted sharply to $X in 2022. Over the period under review, imports continue to indicate a deep reduction. The growth pace was the most rapid in 2014 when imports increased by 53% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Germany (X tons), Spain (X tons) and China (X tons) were the main suppliers of ship propeller imports to Morocco, together comprising 57% of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +26.7%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X), Spain ($X) and China ($X) constituted the largest ship propeller suppliers to Morocco, together accounting for 56% of total imports.

In terms of the main suppliers, Germany, with a CAGR of +22.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average ship propeller import price stood at $X per ton in 2022, approximately reflecting the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 59%. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

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 France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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