Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- ResearchAndMarkets.com has announced the addition of the "Manufacture and Wholesale of Agricultural and Forestry Machinery in South Africa 2023" report to its expansive offering.
The report unveils a robust uptick in agricultural machinery sales, achieving multi-decade peaks in 2022. The soaring figures are attributed to a streak of good harvests and elevated agricultural commodity prices, which significantly amplified farmers' earnings. Notably, retail sales data spotlighted that new tractor sales in 2022 recorded a 40-year high, with combine harvester and other agricultural machinery sales following suit.
Despite the flourishing sales, manufacturers and wholesalers grapple with hurdles such as sluggish economic growth, surging input costs, and inconsistent electricity supply. The global pinch of new agricultural machinery was felt keenly between 2020 and mid-2022, owing to halted machinery production, supply chain hiccups, and a drought of microchips and other spare parts. Local distributors found themselves in a bind, unable to import adequate machinery to meet the burgeoning demand. The sector also faces headwinds from exchange rate fluctuations, emerging structural issues around water and sanitation, and inefficiencies in road infrastructure and ports.
Key market trends underscore a growing affinity for machinery tailored for precision farming and autonomous machinery adept at executing tasks like planting and harvesting. The democratization of technology in cheaper models is making modern machinery more accessible. Additionally, the shift towards environmentally-friendly machinery, spotlighting fuel efficiency, reduced emissions, and the advent of battery electric machinery, is notable. The forestry machinery segment too is evolving, with more efficient and sophisticated equipment to ramp up productivity.
The report furnishes a detailed overview of the sector's stature and size, along with economic data pertinent to agriculture and other related industries. It highlights key players, corporate actions, and critical factors impacting the sector such as competition from importers and distributors of international brands, input costs, and power disruptions. A total of 23 companies including Bell Equipment, Senwes, John Deere, BHBW, and Iveco have been profiled, offering a granular view of the industry's competitive landscape.
This comprehensive narrative includes an array of topics covering the industry description, local and international perspectives, influential factors, competitive environment, SWOT analysis, outlook, industry associations, and an in-depth company profile segment.
The 2023 report is a pivotal resource for stakeholders, offering a lens into the market's trajectory, challenges, and the burgeoning trends shaping the agricultural and forestry machinery landscape in South Africa.
Company Profiles:
- African Traction and Associated Technologies
- AGCO South Africa
- Agrico
- ARGO Industrial
- Bell Equipment Company S A
- BHBW South Africa
- Desmond Equipment S A
- Engitek
- Forestry Plant and Equipment Sales CC
- G C Tillage
- Iveco SA
- John Deere
- Kaap Agri Aussenkehr
- LEMKEN South Africa
- Nukor Woodtech
- Orbach Agri
- Packo RSA
- Piket Implemente
- Radium Engineering
- Rovic and Leers
- Senwes
- Talbert Pivots
- Vincemus Investments
For more information about this report visit https://www.researchandmarkets.com/r/u47c6f
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