SADC: Tractor Market 2024

Tractor Market Size in SADC

The SADC tractor market surged to $X in 2022, increasing by 16% against the previous year. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -14.7% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Tractor Production in SADC

In value terms, tractor production rose remarkably to $X in 2022 estimated in export price. In general, production continues to indicate strong growth. The pace of growth was the most pronounced in 2020 when the production volume increased by 61% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Tractor Exports

Exports in SADC

For the seventh consecutive year, SADC recorded growth in overseas shipments of tractors, which increased by 9.5% to X units in 2022. In general, exports posted prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of 69% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, tractor exports declined to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +26.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 40%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

In 2022, South Africa (X units) represented the major exporter of tractors in SADC, mixing up 96% of total export.

South Africa was also the fastest-growing in terms of the tractors exports, with a CAGR of +12.6% from 2012 to 2022. While the share of South Africa (+9.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest tractor supplier in SADC.

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

Export Prices by Country

In 2022, the export price in SADC amounted to $X per unit, which is down by -17.5% against the previous year. Overall, the export price recorded a deep setback. The pace of growth appeared the most rapid in 2015 an increase of 39%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to -5.9% per year.

Tractor Imports

Imports in SADC

Tractor imports skyrocketed to X units in 2022, jumping by 23% on the previous year's figure. Total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -8.0% against 2020 indices. The pace of growth was the most pronounced in 2020 when imports increased by 51% against the previous year. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, tractor imports stood at $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 40% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Africa represented the main importer of tractors in SADC, with the volume of imports recording X units, which was near 38% of total imports in 2022. Tanzania (X units) held the second position in the ranking, distantly followed by Zimbabwe (X units), Mozambique (X units), Zambia (X units) and Madagascar (X units). All these countries together took near 47% share of total imports. Namibia (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Mozambique (with a CAGR of +9.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constitutes the largest market for imported tractors in SADC, comprising 45% of total imports. The second position in the ranking was taken by Tanzania ($X), with a 17% share of total imports. It was followed by Zambia, with a 9.1% share.

In South Africa, tractor imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Tanzania (+3.3% per year) and Zambia (+0.1% per year).

Import Prices by Country

The import price in SADC stood at $X per unit in 2022, falling by -12.5% against the previous year. Overall, the import price showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 when the import price increased by 88% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Zambia ($X per unit), while Madagascar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mozambique (+1.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform