In 2023, Germany led the European turnover in renting and leasing of agricultural machinery and equipment with 508.6 million euros, showing a modest 1.8% increase. France experienced a significant surge of 34.57%, rising to 322.1 million euros, while the UK followed with a 1.37% increase at 431.4 million euros. Poland and Spain also saw notable growths of 4.22% and 4.7%, respectively. Contrary to this, Iceland faced a substantial decline of 29.29% despite minor gains in other regions.
Future trends to watch include shifts toward sustainable and precision agriculture, anticipating an increased demand for advanced machinery in Western and Southern Europe. Additionally, growth potential exists in Eastern Europe, supported by emerging technological advancements and policy incentives promoting agricultural efficiency.
Top countries in Turnover of Renting and Leasing of Agricultural Machinery and Equipment by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 508.6 | 2023 | +1.5% | +1.8% | View data |
| 2 | 2 United Kingdom | 431.4 | 2023 | +3.28% | +1.37% | View data |
| 3 | 3 France | 322.1 | 2023 | +6.51% | +34.57% | View data |
| 4 | 4 Poland | 177.9 | 2023 | +6.72% | +4.22% | View data |
| 5 | 5 Austria | 117.2 | 2023 | +0.17% | +0.15% | View data |
| 6 | 6 Spain | 104.1 | 2023 | +5.15% | +4.7% | View data |
| 7 | 7 Portugal | 41.6 | 2023 | +1.22% | +0.99% | View data |
| 8 | 8 Lithuania | 34.1 | 2023 | +15.59% | +22.82% | View data |
| 9 | 9 Denmark | 34 | 2023 | +1.8% | +2.74% | View data |
| 10 | 10 Sweden | 21.3 | 2023 | 0% | -1.69% | View data |
