Africa: Plough Market 2024

Plough Market Size in Africa

In 2023, the African plough market decreased by X% to $X, falling for the second year in a row after two years of growth. Overall, consumption recorded a slight reduction. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Plough Production in Africa

In value terms, plough production shrank to $X in 2023 estimated in export price. In general, production, however, saw a notable increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2023, production growth failed to regain momentum.

Plough Exports

Exports in Africa

In 2023, approx. X units of ploughs for agricultural purposes were exported in Africa; reducing by X% compared with the previous year. Overall, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2018 when exports increased by X%. As a result, the exports attained the peak of X units. From 2019 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, plough exports reached $X in 2023. In general, exports recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

Zimbabwe was the largest exporting country with an export of about X units, which reached X% of total exports. South Africa (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Kenya (X%) and Zambia (X%). Tanzania (X units) and Tunisia (X units) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Zambia (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, South Africa ($X) remains the largest plough supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Zimbabwe ($X), with a X% share of total exports. It was followed by Kenya, with a X% share.

In South Africa, plough exports remained relatively stable over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Zimbabwe (X% per year) and Kenya (X% per year).

Export Prices by Country

The export price in Africa stood at $X per unit in 2023, picking up by X% against the previous year. Export price indicated moderate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, plough export price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of X%. The level of export peaked in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was South Africa ($X per unit), while Tanzania ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the other leaders experienced mixed trends in the export price figures.

Plough Imports

Imports in Africa

In 2023, overseas purchases of ploughs for agricultural purposes decreased by X% to X units, falling for the second consecutive year after two years of growth. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X units. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, plough imports dropped modestly to $X in 2023. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Tanzania (X units) and Zambia (X units) represented roughly X% of total imports in 2023. Sudan (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Mozambique (X%) and Nigeria (X%). The following importers - Ghana (X units), Ethiopia (X units), Kenya (X units), Benin (X units), South Africa (X units), Algeria (X units), Angola (X units) and Namibia (X units) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Mozambique (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plough importing markets in Africa were Tanzania ($X), Zambia ($X) and South Africa ($X), with a combined X% share of total imports. Sudan, Mozambique, Kenya, Ethiopia, Nigeria, Angola, Algeria, Benin, Namibia and Ghana lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Benin, with a CAGR of X%, recorded the highest growth rate of 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 Africa stood at $X per unit in 2023, rising by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2022 an increase of X%. The level of import peaked at $X per unit in 2015; however, from 2016 to 2023, import prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform