The 2023 data indicates that Germany leads the European forestry and agricultural machinery market with a turnover of 16.71 billion euros, followed by Italy at 9.85 billion euros, and France at 7.04 billion euros. The Netherlands recorded the highest yearly increase at 3.52%, while Finland and Norway experienced notable declines of 3.11% and 3.74%, respectively. Over the last five years, the compound annual growth rate (CAGR) has seen Germany, Austria, and Belgium showing steady growth, while countries like Finland, Denmark, and Norway trended downwards. Smaller markets like Lithuania showed significant growth increases.
In the coming years, trends to watch include technological advancements and digitalization in machinery, sustainability practices influencing machinery innovation, and economic factors impacting market dynamics. These trends have the potential to significantly alter market shares and turnover in the European forestry and agricultural machinery sector.
Top countries in Forestry and Agricultural Machinery Turnover by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 16,710 | 2023 | +2.27% | +1.44% | View data |
| 2 | 2 Italy | 9,850 | 2023 | +1.55% | +0.79% | View data |
| 3 | 3 France | 7,040 | 2023 | +1.37% | -1.26% | View data |
| 4 | 4 Netherlands | 3,120 | 2023 | +5.38% | +3.52% | View data |
| 5 | 5 United Kingdom | 3,080 | 2023 | +1.22% | +1.2% | View data |
| 6 | 6 Austria | 3,030 | 2023 | +2.87% | +2.22% | View data |
| 7 | 7 Belgium | 2,670 | 2023 | +3.41% | +4.57% | View data |
| 8 | 8 Poland | 2,180 | 2023 | +2.57% | +1.72% | View data |
| 9 | 9 Spain | 1,730 | 2023 | +1.29% | +0.26% | View data |
| 10 | 10 Sweden | 1,640 | 2023 | +1.11% | +1.53% | View data |
