Morocco: Truck Market 2022

Truck Market Size in Morocco

In 2021, after two years of growth, there was significant decline in the moroccan truck market, when its value decreased by -X% to $X, consumption showed a perceptible setback.The most prominent rate of growth was recorded in 2016 when the market value increased by X% against the previous year.Truck consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Truck Production in Morocco

In value terms, truck production expanded to $X in 2021 estimated in export price.The total output value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years.The growth pace was the most rapid in 2013 when the production volume increased by X the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Truck Exports

Exports from Morocco

After two years of decline, overseas shipments of trucks increased by X% to X units in 2021.Over the period under review, exports saw significant growth.The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year.The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, truck exports skyrocketed to $X in 2021.In general, exports continue to indicate a significant increase.The pace of growth was the most pronounced in 2013 when exports increased by X exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Spain (X units), France (X units) and Romania (X units) were the main destinations of truck exports from Morocco, with a combined X% share of total exports. These countries were followed by Italy, Turkey, Poland, Bulgaria and Slovenia, which together accounted for a further X 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovenia (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), France ($X) and Romania ($X) constituted the largest markets for truck exported from Morocco worldwide, with a combined X% share of total exports. These countries were followed by Italy, Turkey, Poland, Bulgaria and Slovenia, which together accounted for a further X terms of the main countries of destination, Slovenia, with a CAGR of +X%, saw the highest rates of growth with regard to 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

In 2021, the average truck export price amounted to $X per unit, with an increase of X% against the previous year. Over the last nine years, it increased at an average annual rate of +X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2021, the countries with the highest prices were Turkey ($X per unit) and Italy ($X per unit), while the average price for exports to Poland ($X per unit) and Bulgaria ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Truck Imports

Imports into Morocco

Truck imports into morocco skyrocketed to X units in 2021, growing by X% compared with 2020.Overall, imports, however, continue to indicate a pronounced decrease.The growth pace was the most rapid in 2019 when imports increased by X% against the previous year.Imports peaked at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, truck imports soared to $X in 2021.The total import value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period.Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest truck supplier to Morocco, accounting for a X% share of total imports. Moreover, truck imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), threefold. Thailand (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+X% per year) and Thailand (-X% per year).

In value terms, Turkey ($X), France ($X) and Thailand ($X) constituted the largest truck suppliers to Morocco, together comprising X% of total imports.

Turkey, with a cagr of +X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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 truck import price amounted to $X per unit, picking up by X% against the previous year. Overall, the import price saw a notable expansion. The pace of growth appeared the most rapid in 2016 when the average import price increased by X%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was France ($X per unit), while the price for Saudi Arabia ($X per unit) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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