The forecast for sold production of tractors with an engine power of more than 59 kW in the UK shows a steady growth trajectory from 2024 to 2028. For context, the number stood at approximately 13.38 thousand items in 2023. Year-on-year growth shows an increase of 5.72% from 2023 to 2024. By analyzing the forecasted data, the average compound annual growth rate (CAGR) from 2024 to 2028 is approximately 5.13%, indicating a steady increase in sold production volumes.
Future trends to watch for include:
- Technological advancements promoting more efficient and environmentally friendly tractors.
- An increase in demand driven by agricultural sector expansions and modernization.
- Potential shifts in trade regulations and market accessibility post-Brexit affecting supply chains and production.
