Morocco: Transmission Shaft Market 2024

Transmission Shaft Market Size in Morocco

The Moroccan transmission shaft market soared to $X in 2022, surging by 27% 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 resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +17.0% against 2019 indices. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in years to come.

Transmission Shaft Exports

Exports from Morocco

In 2022, shipments abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain decreased by -53.3% to X tons, falling for the third consecutive year after two years of growth. Overall, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 140%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, transmission shaft exports reduced markedly to $X in 2022. In general, exports, however, continue to indicate buoyant growth. The growth pace was the most rapid in 2014 when exports increased by 80%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X tons), France (X tons) and Spain (X tons) were the main destinations of transmission shaft exports from Morocco, together accounting for 54% of total exports. Mauritania, Guinea, Gabon, Belgium, Sudan and Denmark lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the biggest increases were recorded for Guinea (with a CAGR of +25.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for transmission shaft exported from Morocco were France ($X), Turkey ($X) and Sudan ($X), with a combined 49% share of total exports. Mauritania, Guinea, Gabon, Belgium, Denmark and Spain lagged somewhat behind, together accounting for a further 36%.

In terms of the main countries of destination, Guinea, with a CAGR of +62.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average transmission shaft export price stood at $X per ton in 2022, jumping by 62% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. 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 export markets. In 2022, amid the top suppliers, the country with the highest price was Sudan ($X per ton), while the average price for exports to Spain ($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 Guinea (+29.1%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Morocco

In 2022, the amount of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain imported into Morocco expanded markedly to X tons, growing by 8.2% against the previous year. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -0.2% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 38% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; afterwards, it flattened through to 2022.

In value terms, transmission shaft imports surged to $X in 2022. In general, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +18.6% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 34%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of transmission shaft to Morocco, with a 48% share of total imports. Moreover, transmission shaft imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+17.8% per year) and Italy (+6.1% per year).

In value terms, Germany ($X) constituted the largest supplier of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain to Morocco, comprising 42% of total imports. The second position in the ranking was held by China ($X), with a 16% share of total imports. It was followed by Italy, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.5% per year) and Italy (+6.5% per year).

Import Prices by Country

In 2022, the average transmission shaft import price amounted to $X per ton, jumping by 20% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, 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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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