From 2012 to 2022, the Agricultural and Forestry Machinery Manufacturing Market in Spain has experienced significant fluctuations in its market size value expressed in Billion Euros. Starting at 1.0583 billion euros in 2012, the market saw a decline until 2013, followed by a gradual increase and subsequent fluctuations. Notably, there were periods of substantial growth such as between 2014 and 2015 (17.77%), 2017 and 2018 (16.29%), and a general trend of recovery despite occasional declines, with the most recent value in 2022 standing at 1.7242 billion euros.
Key recent year-on-year variations show:
- 2021: 9.43%
- 2022: 1.46%
And over the last five years, the Compounded Annual Growth Rate (CAGR) is notable at 4.37%, indicating a steady growth trend in the market.
Future trends to watch for include the impact of technological advancements in machinery, shifts towards sustainability, and governmental policies affecting agricultural and forestry sectors. Adoption of smart farming technologies and machines tailored to enhance productivity will be crucial drivers. Monitoring changes in European Union regulations and emerging environmental standards will also be essential for future market trajectories.
How does Spain rank in Agricultural and Forestry Machinery Manufacturing Market Size Value?
| # | 11 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 France | 6,355,700,000 | 2023 | +0.42% | -0.088% | View data |
| 2 | 2 Poland | 1,754,200,000 | 2023 | +1.07% | -1.07% | View data |
| 3 | 3 Spain | 1,733,900,000 | 2023 | +3.35% | +1.38% | |
| 4 | 4 United Kingdom | 1,652,900,000 | 2023 | +1.11% | +1.06% | View data |
| 5 | 5 Romania | 1,128,500,000 | 2023 | +4.98% | +2.42% | View data |
