The 2023 actual data shows the United Kingdom leading in R&D expenditure in the repair and installation of machinery and equipment, with $261.15 million PPP, followed by Italy and Poland. The year-on-year variations reveal significant increases in countries like Slovakia, Hungary, and Portugal, indicating a growing emphasis on innovation in these regions. In contrast, Italy and Spain experienced declines, suggesting potential shifts in industrial focus or funding allocation. Over the past five years, there has been a varied average annual growth rate, reflecting differing national priorities and economic conditions impacting R&D investment in this sector.
Future trends to watch for include increasing investments in emerging technologies and automation in key markets, potentially altering the global landscape of R&D in this field. Additionally, countries with rising year-on-year growth rates are likely to continue driving innovations, while those with declining expenditures might reassess their strategies to maintain competitiveness in the industry.
- United Kingdom: $261.15 million PPP
- Italy: $124.78 million PPP
- Poland: $103.19 million PPP
- Hungary: $48.25 million PPP
- Slovakia: $39.4 million PPP
- Norway: $36.69 million PPP
- Portugal: $27.55 million PPP
- Spain: $26.63 million PPP
- Canada: $20.53 million PPP
- South Korea: $14.94 million PPP
- Slovenia: $14.63 million PPP
- Finland: $10.4 million PPP
- Lithuania: $3.37 million PPP
- Romania: $1.59 million PPP
- Iceland: $1.34 million PPP
- Estonia: $0.046 million PPP
Top countries in Business Enterprise R&D Expenditure in Repair and Installation of Machinery and Equipment by Country
| # | 10 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 261.15 | 2023 | +3.11% | +4.45% | View data |
| 2 | 2 Italy | 124.78 | 2023 | +1.75% | -3.94% | View data |
| 3 | 3 Poland | 103.19 | 2023 | +7.43% | +9.39% | View data |
| 4 | 4 Hungary | 48.25 | 2023 | +12.43% | +12.83% | View data |
| 5 | 5 Slovakia | 39.4 | 2023 | +17.03% | +26.04% | View data |
| 6 | 6 Norway | 36.69 | 2023 | +7.01% | +6.25% | View data |
| 7 | 7 Portugal | 27.55 | 2023 | +2.84% | +16.5% | View data |
| 8 | 8 Spain | 26.63 | 2023 | -4.34% | -2.41% | View data |
| 9 | 9 Canada | 20.53 | 2023 | -1.49% | +0.63% | View data |
| 10 | 10 South Korea | 14.94 | 2023 | +4.75% | -2.77% | View data |
