ECOWAS: Market for Agricultural And Forestry Tractors 2025

Market Size for Agricultural And Forestry Tractors in ECOWAS

The ECOWAS agricultural and forestry tractor market contracted remarkably to $X in 2021, with a decrease of -25.5% against the previous year. The total consumption indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +20.1% against 2019 indices. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Production of Agricultural And Forestry Tractors in ECOWAS

In value terms, agricultural and forestry tractor production rose slightly to $X in 2021 estimated in export price. In general, production, however, saw a mild reduction. The most prominent rate of growth was recorded in 2013 with an increase of 83% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Exports of Agricultural And Forestry Tractors

Exports in ECOWAS

In 2021, exports of agricultural and forestry tractors in ECOWAS shrank markedly to X units, declining by -54.8% on the previous year. Overall, exports faced a abrupt downturn. The pace of growth appeared the most rapid in 2013 with an increase of 37%. Over the period under review, the exports attained the maximum at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, agricultural and forestry tractor exports dropped dramatically to $X in 2021. In general, exports continue to indicate a abrupt descent. The growth pace was the most rapid in 2019 with an increase of 52% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Senegal represented the largest exporter of agricultural and forestry tractors in ECOWAS, with the volume of exports resulting at X units, which was approx. 58% of total exports in 2021. Nigeria (X units) ranks second in terms of the total exports with a 26% share, followed by Niger (5.3%), Togo (5.3%) and Burkina Faso (5.3%).

Senegal was also the fastest-growing in terms of the agricultural and forestry tractors exports, with a CAGR of +5.2% from 2012 to 2021. Niger (-7.4%), Nigeria (-12.1%), Togo (-14.3%) and Burkina Faso (-21.7%) illustrated a downward trend over the same period. While the share of Senegal (+50 p.p.), Nigeria (+8.5 p.p.) and Niger (+3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Burkina Faso (-4.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) emerged as the largest agricultural and forestry tractor supplier in ECOWAS, comprising 72% of total exports. The second position in the ranking was taken by Niger ($X), with a 10% share of total exports. It was followed by Togo, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Senegal stood at +5.1%. In the other countries, the average annual rates were as follows: Niger (+1.6% per year) and Togo (+1.5% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, almost unchanged from the previous year. Over the period under review, the export price saw a slight slump. The pace of growth appeared the most rapid in 2020 an increase of 32% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Niger ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+16.7%), while the other leaders experienced mixed trends in the export price figures.

Imports of Agricultural And Forestry Tractors

Imports in ECOWAS

In 2021, imports of agricultural and forestry tractors in ECOWAS fell significantly to X units, declining by -19.1% on the previous year's figure. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +49.4% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 85% against the previous year. As a result, imports reached the peak of X units, and then shrank sharply in the following year.

In value terms, agricultural and forestry tractor imports contracted significantly to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by 68% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Ghana (X units), distantly followed by Nigeria (X units), Mali (X units), Guinea (X units), Cote d'Ivoire (X units) and Senegal (X units) were the main importers of agricultural and forestry tractors, together comprising 89% of total imports. Benin (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Guinea (with a CAGR of +20.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest agricultural and forestry tractor importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined 68% share of total imports. These countries were followed by Senegal, Mali, Guinea and Benin, which together accounted for a further 27%.

In terms of the main importing countries, Guinea, with a CAGR of +21.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2021, surging by 2.6% against the previous year. Overall, the import price, however, showed a pronounced slump. The growth pace was the most rapid in 2015 when the import price increased by 9.9% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform