The production of agricultural and forestry machinery in Spain has experienced uneven growth over the past decade, with significant fluctuations in year-on-year trends. From 2013 to 2015, production saw a decline, reaching its lowest point in 2015. This was followed by a substantial increase in 2016 and continued moderate growth through 2023 where it stood at 5.955 million items. In the years 2024 to 2028, production is forecasted to continue increasing, achieving a CAGR of 3.55% with an overall growth rate of 19.03% over the five-year period.
Future trends to watch for include:
- Technological advancements and innovation driving efficiency and productivity.
- Economic factors influencing investment in agricultural equipment.
- Environmental policies and regulations impacting machinery demand.
- Potential market expansion due to increased agricultural mechanization globally.