South Africa: Tractor Market 2024

Tractor Market Size in South Africa

The South African tractor market skyrocketed to $X in 2022, growing by 51% against the previous year. Over the period under review, consumption posted resilient growth. 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 South Africa

In value terms, tractor production skyrocketed to $X in 2022 estimated in export price. In general, production enjoyed a buoyant expansion. The growth pace was the most rapid in 2020 with an increase of 175% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Tractor Exports

Exports from South Africa

For the seventh consecutive year, South Africa recorded growth in shipments abroad of tractors, which increased by 13% to X units in 2022. Overall, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 71%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, tractor exports declined to $X in 2022. In general, total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 +30.3% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 42%. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

Namibia (X units), Zimbabwe (X units) and Zambia (X units) were the main destinations of tractor exports from South Africa, together accounting for 35% of total exports.

From 2012 to 2022, the biggest increases were recorded for Zimbabwe (with a CAGR of +27.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tractor exported from South Africa were Namibia ($X), Zimbabwe ($X) and Mozambique ($X), with a combined 29% share of total exports.

Zimbabwe, with a CAGR of +15.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average tractor export price amounted to $X per unit, reducing by -18.8% against the previous year. Overall, the export price continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2015 an increase of 46% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Swaziland ($X per unit), while the average price for exports to Namibia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Botswana (+2.1%), while the prices for the other major destinations experienced a decline.

Tractor Imports

Imports into South Africa

Tractor imports into South Africa soared to X units in 2022, picking up by 96% compared with 2021. Over the period under review, imports enjoyed prominent growth. The pace of growth was the most pronounced in 2020 when imports increased by 348% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, tractor imports skyrocketed to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 63% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, India (X units) constituted the largest tractor supplier to South Africa, with a 14% share of total imports. Moreover, tractor imports from India exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. The third position in this ranking was held by China (X units), with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.7% per year) and China (+14.7% per year).

In value terms, the United States ($X), India ($X) and the UK ($X) were the largest tractor suppliers to South Africa, with a combined 23% share of total imports. Italy, France, Germany, China, Turkey, the Netherlands, Mexico, Brazil, Japan and Finland lagged somewhat behind, together accounting for a further 25%.

In terms of the main suppliers, China, with a CAGR of +22.6%, recorded 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 average tractor import price stood at $X per unit in 2022, shrinking by -30.8% against the previous year. In general, the import price continues to indicate a deep reduction. The growth pace was the most rapid in 2021 an increase of 332%. The import price peaked 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 supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Finland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+19.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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