Africa: Tractor Market 2024

Tractor Market Size in Africa

The African tractor market was estimated at $X in 2022, leveling off at the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Tractor Production in Africa

In value terms, tractor production expanded remarkably to $X in 2022 estimated in export price. The total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.0% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 31%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Tractor Exports

Exports in Africa

In 2022, shipments abroad of tractors increased by 4.6% to X units, rising for the third consecutive year after two years of decline. Overall, exports recorded a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of 242% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, tractor exports reduced to $X in 2022. Total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +24.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 38%. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

South Africa dominates exports structure, amounting to X units, which was approx. 88% of total exports in 2022. Cameroon (X units) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tractor exports from South Africa stood at +12.6%. At the same time, Cameroon (+33.6%) displayed positive paces of growth. Moreover, Cameroon emerged as the fastest-growing exporter exported in Africa, with a CAGR of +33.6% from 2012-2022. South Africa (+13 p.p.) and Cameroon (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest tractor supplier in Africa, comprising 89% of total exports. The second position in the ranking was taken by Cameroon ($X), with a 0.5% share of total exports.

In South Africa, tractor exports expanded at an average annual rate of +6.0% over the period from 2012-2022.

Export Prices by Country

The export price in Africa stood at $X per unit in 2022, falling by -13.7% against the previous year. Over the period under review, the export price saw a deep contraction. The growth pace was the most rapid in 2018 when the export price increased by 142% against the previous year. The level of export peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per unit), while Cameroon amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (-5.9%).

Tractor Imports

Imports in Africa

In 2022, after two years of growth, there was decline in overseas purchases of tractors, when their volume decreased by -2.7% to X units. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 23% against the previous year. The volume of import peaked at X units in 2021, and then dropped in the following year.

In value terms, tractor imports shrank modestly to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 27%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, South Africa (X units), followed by Tanzania (X units), Sudan (X units), Egypt (X units), Nigeria (X units), Kenya (X units), Ghana (X units) and Libya (X units) represented the main importers of tractors, together creating 55% of total imports. The following importers - Cote d'Ivoire (X units), Morocco (X units), Tunisia (X units), Guinea (X units) and Zimbabwe (X units) - together made up 16% of total imports.

From 2012 to 2022, the biggest increases were recorded for Guinea (with a CAGR of +17.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constitutes the largest market for imported tractors in Africa, comprising 17% of total imports. The second position in the ranking was held by Morocco ($X), with an 8.3% share of total imports. It was followed by Nigeria, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value in South Africa was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Morocco (+0.8% per year) and Nigeria (+1.4% per year).

Import Prices by Country

The import price in Africa stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. In general, the import price, however, showed a perceptible downturn. The pace of growth was the most pronounced in 2021 when the import price increased by 20% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Morocco ($X per unit), while Libya ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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