Morocco Automotive Market 2019 Valuable Industry Status by Trend Analysis, Growth Status, Revenue Expectation to 2024

Morocco Automotive Market 2019 research report categorizes the global Morocco Automotive by top players/brands, region, type and end user.

New research report on “Morocco Automotive Market” 2019-2024 is a proficient and in-depth research offers an summary of the current market status, historic, and expected way forward for the Morocco Automotive market. Morocco Automotive market report on the world’s major regional market conditions, focusing on the main regions. Morocco Automotive market report offers an extensive analysis of Morocco Automotive industry to guide market players, new entrants and investors to get opinion of Morocco Automotive industry.

Scope of the Report:

The Moroccan automotive industry has been segmented by vehicle type.

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Market Overview:

The Morocco Automotive Industry is expected to grow at a CAGR of 5.6% during the forecast period 2019-2024.
The increase in investment from leading automakers in the African region and incentives offered by the government is majorly driving the automotive market in Morocco. The automotive production capacity is expected to be doubled by the end of 2022, to reach 160,000 vehicles a year.
Additionally, Morocco’s integration into the global economy was facilitated by the signing of numerous automotive free trade agreements with the European Union and the United States. These trade agreements contributed positively to the emergence of auto export activities in the country. For instance, in 2007, an agreement was formed between Morocco and Renault-Nissan Group, which resulted in a vast expansion of the company’s engagement in the country, by creating an environment-friendly production site in Tangier costing more than EUR 600 million.

Morocco Automotive market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. The Morocco Automotive market 2019 report consists of the latest developments, market shares, and strategies employed by the major market players.

Top Key Players of Morocco Automotive Market Report Are:

Renault-Nissan
Ford Motor Company
Peugeot
Hyundai Motor Company
Fiat S.p.A
Dacia
Volkswagen
Mercedes-Benz
BMW
Audi
Denso Corporation
Delphi Automotive Systems
Saint-Gobain PAM
Induver Maroc Vitres
Lear Corporation

Morocco Automotive Market Report Highlights:

The report provides a detailed analysis on current and future market trends to identify the investment opportunities
Market forecasts till 2024, using estimated market values as the base numbers
Key market trends across the business segments, Regions and Countries
Key developments and strategies observed in the market
Market Dynamics such as Drivers, Restraints, Opportunities and other trends
In-depth company profiles of key players and upcoming prominent players
Growth prospects among the emerging nations through 2024
Morocco Automotive Market opportunities and recommendations for new investments

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Key Market Trends:

Foreign Investments from Leading Auto Manufacturers

Foreign direct investment has been continually increasing as companies are attracted towards the country’s favorable economic conditions, government support through their initiatives (such as tax exemptions for the first 5 years, VAT exemptions, and land purchase subsidies), skilled workforce, and modern infrastructure.

– Some of the recent investments in Morocco’s automotive sector include PSA Peugeot Citroen’s investment of USD 615 million for setting up their manufacturing facility, which is expected to be operational in 2019.
– The company aims to manufacture 90,000 B-and C-segment passenger vehicles in a year and internal combustion engines (ICE) for passenger cars for both domestic and regional markets.
– Despite having a low population and sales of vehicles within the country, automobile manufacturers in Morocco made noteworthy exports to Europe, the Middle East, and Africa.
– Additionally, Morocco’s integration into the global economy was facilitated by the signing of numerous free trade agreements with the European Union and the United States. These trade agreements contributed positively to the emergence of export activities in the country.
– For instance, in 2007, an agreement was formed between Morocco and Renault-Nissan Group, resulted in a vast expansion of the company’s engagement in the country, by creating an environment-friendly production site in Tangier costing more than EUR 600 million.
– Additionally, in April 2016, an agreement was made between Morocco and the Renault Group to further expand Renault’s involvement and position in Morocco, which included the manufacturing of 450,000 vehicles in the country.

Increasing Demand for Passenger Vehicles

The passenger cars segment witnessed a considerable increase of 4.11% rise in sales during 2017, reaching 155,218 units from its previous year.

During the Q1 of 2019, Dacia stood as the market leader with a 30.3% market share. Renault group in April 2019 has sold about 5,364 units of passenger cars and utility vehicles out of which Dacia alone contributed to 3,157 units. This was followed by Volkswagen with 11,810 units, Peugeot with 11,316 units and Hyundai with 9,882 units sold during 2018.

Morocco developed an investment cluster program, which saw Renault enter the local market. Renault will be the only global automaker assembling vehicles in the country until the arrival of Peugeot in 2019.

The demand for luxury cars has increased in 2018 as compared to the previous year. A total of 1,140 hybrid vehicles were sold in the same year as compared to 342 units in 2017. Luxury car manufacturers have also witnessed an increase in their sales. Mercedes-Benz sold 3,105 units and stood as the market leader in the luxury segment followed by BMW with 2,700 units and Audi with 2.572 units.

Morocco Automotive Market Report Answers Following Questions:

What are the important RandD (Research and Development) factors and data identifications to responsible for rising market share?
What are future investment opportunities in the in Morocco Automotive Devices landscape analyzing price trends?
Which are most dynamic companies with ranges and recent development within Morocco Automotive Devices Market till 2024?
In what way is the market expected to develop in the forthcoming years?
What are the principle issues that will impact development, including future income projections?
What are market opportunities and potential risks associated with Morocco Automotive Devices by analyzing trends?

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Detailed TOC of Morocco Automotive Market Report 2019-2024:

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Current Market Scenario
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness – Porter’s Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 PESTEL Analysis
4.6 FDI in Morrocon Automotive Industry
4.7 Government Regulations and Incentives

5 MARKET SEGMENTATION
5.1 By Vehicle Type
5.1.1 Passenger Vehicles
5.1.2 Commercial Vehicles

6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share**
6.2 Mergers and Acquisitions
6.3 Company Profiles
6.3.1 Automotive Vehicle Manufacturers
6.3.1.1 Renault-Nissan
6.3.1.2 Ford Motor Company
6.3.1.3 Peugeot
6.3.1.4 Hyundai Motor Company
6.3.1.5 Fiat S.p.A
6.3.1.6 Dacia
6.3.1.7 Volkswagen
6.3.1.8 Mercedes-Benz
6.3.1.9 BMW
6.3.1.10 Audi
6.3.2 Automotive Part Suppliers
6.3.2.1 Denso corporation
6.3.2.2 Delphi Automotive Systems
6.3.2.3 Saint-Gobain PAM
6.3.2.4 Induver Maroc Vitres
6.3.2.5 Lear Corporation