In 2023, the Machinery and Equipment Wholesaling Value Added in Australia stood at 31.42 billion Australian dollars, reflecting an impressive growth trajectory over the past decade. After fluctuating modestly from 2013 to 2015, the sector saw steady increases with a significant jump in value from 2021 to 2022. The year-on-year growth rates highlight notable upticks particularly in the last two years, with 15.05% in 2022 and 7.11% in 2023. Over the last five years, the compound annual growth rate (CAGR) averaged at 7.46%, indicating robust expansion.
Future trends point to continuing growth at a forecasted five-year CAGR of 4.09%, culminating in a value of 41.25 billion Australian dollars by 2028. This sustained growth will likely be driven by technological advancements, rising demand in industrial sectors, and increased capital investments in machinery and equipment.
