Morocco: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in Morocco

The Moroccan non-electric industrial furnace market surged to $X in 2022, jumping by X% 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). Overall, consumption continues to indicate tangible growth. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Non-Electric Industrial Furnace Exports

Exports from Morocco

In 2022, non-electric industrial furnace exports from Morocco stood at X units, remaining constant against 2021 figures. Overall, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, non-electric industrial furnace exports surged to $X in 2022. Over the period under review, exports saw a deep slump. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Equatorial Guinea (X units), Guinea (X units) and Djibouti (X units) were the main destinations of non-electric industrial furnace exports from Morocco, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Equatorial Guinea (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Guinea ($X) emerged as the key foreign market for non-electric industrial or laboratory furnaces and ovens exports from Morocco, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by Mali, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Guinea amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Mali (X% per year).

Export Prices by Country

The average non-electric industrial furnace export price stood at $X per unit in 2022, increasing by X% against the previous year. In general, the export price showed a perceptible expansion. The pace of growth appeared the most rapid in 2016 an increase of X%. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guinea ($X per unit), while the average price for exports to Equatorial Guinea ($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 Guinea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Industrial Furnace Imports

Imports into Morocco

Non-electric industrial furnace imports into Morocco soared to X units in 2022, increasing by X% compared with the year before. Overall, imports posted modest growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, non-electric industrial furnace imports reduced to $X in 2022. Over the period under review, imports saw perceptible growth. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, South Korea (X units) constituted the largest non-electric industrial furnace supplier to Morocco, accounting for a X% share of total imports. Moreover, non-electric industrial furnace imports from South Korea exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. Turkey (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Turkey (X% per year).

In value terms, the largest non-electric industrial furnace suppliers to Morocco were South Korea ($X), Germany ($X) and Turkey ($X), together comprising X% of total imports.

In terms of the main suppliers, South Korea, with a CAGR of X%, saw the highest rates of growth with regard to 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 non-electric industrial furnace import price amounted to $X per unit, shrinking by X% against the previous year. In general, the import price, however, saw slight growth. The growth pace was the most rapid in 2021 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit, and then shrank significantly in the following year.

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 ($X per unit), while the price for India ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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