Morocco: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Morocco

The Moroccan spherical roller bearing market soared to $X in 2021, increasing by 49% 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). Over the period under review, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +48.9% against 2018 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Spherical Roller Bearing Exports

Exports from Morocco

After two years of growth, shipments abroad of spherical roller bearings decreased by -93.2% to X kg in 2021. In general, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 1,121% against the previous year. The exports peaked at X tons in 2020, and then shrank significantly in the following year.

In value terms, spherical roller bearing exports shrank rapidly to $X in 2021. Overall, exports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2017 when exports increased by 567%. Over the period under review, the exports attained the maximum at $X in 2020, and then contracted dramatically in the following year.

Exports by Country

Germany (X kg) was the main destination for spherical roller bearing exports from Morocco, with a 91% share of total exports. Moreover, spherical roller bearing exports to Germany exceeded the volume sent to the second major destination, France (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +51.4%.

In value terms, Germany ($X) remains the key foreign market for spherical roller bearings exports from Morocco, comprising 91% of total exports. The second position in the ranking was held by France ($X), with a 2.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +43.3%.

Export Prices by Country

The average spherical roller bearing export price stood at $X per ton in 2021, reducing by -18.4% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 133% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped notably 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 Germany ($X per ton), while the average price for exports to France stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+148.0%), while the prices for the other major destinations experienced a decline.

Spherical Roller Bearing Imports

Imports into Morocco

In 2021, supplies from abroad of spherical roller bearings increased by 29% to X tons, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +5.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, spherical roller bearing imports skyrocketed to $X in 2021. Overall, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +67.3% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan (X tons), Italy (X tons) and China (X tons) were the main suppliers of spherical roller bearing imports to Morocco, together comprising 58% of total imports. These countries were followed by Germany, Sweden, the Czech Republic, the UK, the Netherlands, the United Arab Emirates and France, which together accounted for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +22.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest spherical roller bearing suppliers to Morocco were Italy ($X), Germany ($X) and Japan ($X), with a combined 62% share of total imports. Sweden, China, the Czech Republic, the UK, France, the United Arab Emirates and the Netherlands lagged somewhat behind, together comprising a further 32%.

Among the main suppliers, Sweden, with a CAGR of +19.8%, 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 2021, the average spherical roller bearing import price amounted to $X per ton, picking up by 15% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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