As of 2024, Germany leads European R&D expenditure in the manufacture of machinery and equipment, with an investment of 7.55 billion Euros. Italy, Spain, Slovakia, and Portugal follow, albeit with significantly lower values, reflecting their smaller scale of industrial activity. Year-on-year, Germany and Spain show modest growth in R&D spending, while smaller markets like Portugal, Slovenia, Latvia, and Slovakia report double-digit growth rates. Notably, Latvia witnessed a notable 25.18% increase in 2023, while Slovakia also had a significant year-on-year increase of 10.34%.
Future trends to watch include Germany's continued dominance and potential rises in R&D investment in emerging markets like Slovakia and Latvia, driven by industrial modernization and technological innovation. Additionally, monitoring changes in EU funding and policy shifts will be crucial for understanding long-term growth prospects in these sectors.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Machinery and Equipment by Country
| # | 9 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 7,550 | 2023 | +2.34% | +1.2% | View data |
| 2 | 2 Italy | 1,960 | 2023 | +2.68% | -0.21% | View data |
| 3 | 3 Spain | 301.91 | 2023 | +2.38% | +1.96% | View data |
| 4 | 4 Slovakia | 62.87 | 2023 | +8.48% | +10.34% | View data |
| 5 | 5 Portugal | 50.2 | 2023 | +9.11% | +10.65% | View data |
| 6 | 6 Slovenia | 43.12 | 2023 | +3.87% | +8.2% | View data |
| 7 | 7 Latvia | 4.24 | 2023 | +16.26% | +25.18% | View data |
| 8 | 8 Lithuania | 4.24 | 2023 | +10.18% | +10.2% | View data |
| 9 | 9 Estonia | 2.27 | 2023 | +2.48% | +0.65% | View data |
