Market Size of Africa Agricultural Machinery Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.27 Billion |
| Market Size (2029) | USD 3.09 Billion |
| CAGR (2024 - 2029) | 6.40 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Africa Agricultural Machinery Market Analysis
The Africa Agricultural Machinery Market size is estimated at USD 2.27 billion in 2024, and is expected to reach USD 3.09 billion by 2029, growing at a CAGR of 6.40% during the forecast period (2024-2029).
Over the years, agricultural mechanization has become an integral component of agricultural development in the rest of the African countries, resulting in the evolution of agricultural machinery hire services. The expansion of agricultural productivity through increased investment into the segment for farm mechanization by the government has increased the adoption of autonomous agricultural machinery. Furthermore, the increasing trend toward sustainable mechanization, the growth of medium-sized farms, and the adoption of innovative technologies drive the market in the region. However, the reliance on traditional implements and the low income in certain African countries may hinder the market's growth.
Tractors dominated the agricultural machinery market. According to the South African Agricultural Machinery Association (SAAMA), in October 2022, tractor sales of 1,268 units were almost 48.1% more than the 856 units sold in October 2021. Year-to-date tractor sales were almost 30% up from last year. Thirty-four combine harvesters were sold in October 2022, a drop of 24.4% compared to October 2021. On a year-to-date basis, combine harvester sales witnessed an increase of 25% from last year. Individual ownership, collective ownership, fee-based service delivery, and leasing are the types of machinery usage systems followed in the region.
