The United Kingdom leads R&D expenditure in the repair and installation of machinery and equipment, followed by Germany. The Czech Republic and Hungary demonstrated strong growth in 2023, with variations of 20.65% and 11.98%, respectively. However, Germany and Spain faced declines of -6.65% and -3.68%. Smaller countries like Portugal and Iceland showed positive variation at 14.37% and 4.89%, while Estonia remained steady.
Future Trends to Watch:
- Potential growth in Eastern European countries may continue due to increasing industrial activities.
- Watch for innovative technology integration in leading countries such as the UK and Germany as they strive to regain upward trends.
- The specific impact of supply chain dynamics and digitalization on R&D expenditure across countries.
Top countries in Business Enterprise R&D Expenditure in Repair and Installation of Machinery and Equipment by Country
| # | 10 Countries | Million US Dollars PPP = 2015 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 238.29 | 2023 | +2.67% | +4.12% | View data |
| 2 | 2 Germany | 172.21 | 2023 | -9.1% | -6.65% | View data |
| 3 | 3 Czech Republic | 151.46 | 2023 | +15.34% | +20.65% | View data |
| 4 | 4 Poland | 80.67 | 2023 | +4.41% | +4.98% | View data |
| 5 | 5 Hungary | 44.1 | 2023 | +12.75% | +11.98% | View data |
| 6 | 6 Norway | 32.39 | 2023 | +6.32% | +5.94% | View data |
| 7 | 7 Portugal | 23.33 | 2023 | +1.47% | +14.37% | View data |
| 8 | 8 Spain | 23.03 | 2023 | -4.85% | -3.68% | View data |
| 9 | 9 Canada | 17.44 | 2023 | -4.03% | -1.14% | View data |
| 10 | 10 South Korea | 13.48 | 2023 | +3.69% | -3.6% | View data |
