The Forestry and Agricultural Machinery sector in Belgium experienced fluctuations in hours worked between 2013 and 2023, with hours worked standing at 8.78 million in 2023. Over the last two years, the year-on-year variations were 1.94% in 2022 and 1.88% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years was 2.05%. Projected data indicates a steady growth continuing up to 2028, with an estimated CAGR of 1.37% and an overall growth rate of 7.01% for the next five years.
Key future trends to watch for include technological advancements in machinery, increased automation, and the potential impact of regulatory changes on the sector. Additionally, the emphasis on sustainable agricultural practices may drive further changes in machine utilization and, consequently, hours worked.
