The Forestry and Agricultural Machinery Turnover in Austria has shown a steady increase from 2013 to 2023, with a notable peak in 2018. The value in 2023 stood at 3.03 Billion Euros. Year-on-year variations have demonstrated resilience, with significant growth, especially noted in 2017 and 2018. Over the last two years (2022 and 2023), the market marked an increase of approximately 2.87% year-on-year. The Compound Annual Growth Rate (CAGR) for the last 5 years stands at 2.22%.
Previous year-on-year variations showcase:
- 2016: 4.33%
- 2017: 12.2%
- 2018: 18.52%
- 2019: 0.29%
- 2020: 1.86%
- 2021: 3.11%
- 2022: 2.98%
- 2023: 2.87%
The forecast for the next five years up to 2028 indicates sustained growth with a forecasted CAGR of 2.01%, and a total growth rate of 10.47%. Future trends to watch include technological advancements in machinery, increased investments in sustainable and smart agriculture, as well as potential impacts from regulatory changes and global economic conditions on the agricultural sector.
