From 2013 to 2023, the sold production of agricultural tractors repair and maintenance services in Germany saw significant fluctuations. Starting at 72.66 million euros in 2013, the industry experienced a steady increase reaching 138.16 million euros in 2023. Notable growth years included 2016 and 2020, with year-on-year increases of 18.85% and 25.56% respectively. The last two years showed more modest growth, with 1.88% and 1.85% increases in 2022 and 2023. The compound annual growth rate (CAGR) from 2018 to 2023 stood at approximately 6.01%.
Future trends to watch for:
- A forecasted CAGR of 1.34% from 2024 to 2028 suggests decelerating growth.- Increasing adoption of advanced technologies in agricultural machinery may influence repair and maintenance needs.- Potential economic fluctuations that could affect the agricultural sector's expenditures on maintenance services.
