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Report Titled: “Morocco Automotive Industry Outlook – Growth, Trends, and Forecast (2019 – 2024)”
The report provides deep insights into Morocco Automotive Market related to industry size, share, types, applications, and forecast details. The report covers all the essential information of top key players and relevant regions. Morocco Automotive market report analyzed the market present condition, profit, loss, capacity, productions, consumption and growth rate of the market.
In the end, the report introduced SWOT analysis, investment feasibility, and return analysis of the market.
Scope of the Report:
- The Moroccan automotive industry has been segmented by vehicle type.
- Get a Sample Copy of the Report – https://www.industryresearch.co/enquiry/request-sample/14275461Market 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, Moroccos 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 companys engagement in the country, by creating an environment-friendly production site in Tangier costing more than EUR 600 million.List of Top Key Players are as Follow:
- 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 CorporationEnquire Before Purchasing this Report https://www.industryresearch.co/enquiry/pre-order-enquiry/14275461Key Market Trends:Foreign Investments from Leading Auto Manufacturers
Foreign direct investment has been continually increasing as companies are attracted towards the countrys 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 Moroccos automotive sector include PSA Peugeot Citroens 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, Moroccos 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 companys 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 Renaults 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.
Reasons to Buy Morocco Automotive Market Report:
- In-depth analysis of the market on the global and regional level.
- Major changes in market dynamics and competitive landscape.
- Segmentation on the basis of type, application, geography, and others.
- Historical and future market research in terms of size, share, growth, volume & sales.
- Major changes and assessment in market dynamics & developments.
- Industry size & share analysis with industry growth and trends.
- Emerging key segments and regions
- Key business strategies by major market players and their key methods.
- The research report covers size, share, trends and growth analysis of the Morocco Automotive Market on the global and regional level.
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Detailed TOC of Morocco Automotive Market Report are:
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study2 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 Incentives5 MARKET SEGMENTATION
5.1 By Vehicle Type
5.1.1 Passenger Vehicles
5.1.2 Commercial Vehicles6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share**
6.2 Mergers & 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 Corporation7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 DISCLAIMER
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