The turnover of forestry and agricultural machinery in Denmark showed varied trends over the past decade. From 2013 to 2023, there were noticeable fluctuations. The highest growth was seen in 2018 with a 7.51% increase, while significant declines were recorded in 2019 and 2021. The market turnover in 2023 stood at 578.2 million Euros, experiencing a year-on-year decrease of 0.26%.
Looking at recent trends, there were slight declines observed in the past two years, with negative year-on-year variations in both 2022 (-0.33%) and 2023 (-0.26%). The Compound Annual Growth Rate (CAGR) over the last five years was -2.94%, indicating an overall downward trend in the market's performance.
The forecast data from 2024 to 2028 suggests a continued decline, albeit at a slower rate. The forecasted CAGR for this period is -0.1%, with a projected total decrease of 0.5% over these five years.
Future trends to watch for involve advancements in technology and automation, sustainability practices, and evolving agricultural policies that could impact the demand for machinery in Denmark's forestry and agriculture sectors.
