Moroccan Forging Market Competition Landscape Analysis and Future Development Directions
I. Overview of Market Competition Landscape
As a developing economy located in North Africa, Morocco has a huge potential market for manufacturing industry. Forging, as an important component, has a wide range of applications in various fields and is naturally one of the core industries of Moroccan manufacturing.
According to statistics, the compound annual growth rate of Moroccan forging market from 2019 to 2023 is expected to reach 4.1%. Currently, the forging market competition landscape in Morocco is mainly composed of international forging giants and local small and medium-sized enterprises.
International forging giants occupy a large market share, with the most important companies being French Safran Group and Baosteel Group. These companies can provide high-quality forging products due to their strong technical strength and advanced production lines. Local small and medium-sized enterprises are mainly distributed in major cities such as Casablanca and Rabat. Although there are many of these enterprises, their scale is relatively small and they lack sufficient technical strength and experience, hence the quality of their forging products is uneven.
II. Future Development Directions
Under the background of increasingly fierce international competition, Moroccan forging enterprises must seek breakthroughs in technology innovation and production efficiency to stand firm in the market.
- Improving Technical Level
With the continuous progress of artificial intelligence and automation technology, the manufacturing industry in many developed countries has achieved fully automated production. By introducing these modern production equipment into Morocco, it can help the country’s forging enterprises improve production efficiency and effectively reduce production costs.
- Increasing Product Added Value and Expanding International Market
The Moroccan forging market is currently dominated by low-priced products and lacks high-value-added products in the market. Therefore, providing higher quality forging parts and seeking international markets can provide new opportunities and business opportunities for Moroccan forging enterprises. For example, if the enterprise can invest in and develop new materials, it will be more likely to obtain more orders in the international market.
III. Case Analysis
CMT (Compagnie Marocaine des Technologies) is a forging manufacturer located in Casablanca, Morocco. The company was established in 2008 and is one of the few forging enterprises in the region. After continuous technological innovation and production efficiency improvement, CMT has gradually established a reputation in the Moroccan market and currently has more than 100 employees in total.
In order to increase product added value and expand market share, CMT actively explores overseas business. Currently, the company has successfully entered the European market and established partnership relationships with clients from countries such as the United Kingdom and Germany. At the same time, the enterprise is also constantly improving its technical level and introducing modern production equipment.
Overall, although the Moroccan forging market faces challenges, there is also broad development space. For local small and medium-sized enterprises, improving technical level and expanding international market will be the two key focal points for future development.
