The forestry and agricultural machinery turnover in Spain has shown variability from 2013 through 2023. The turnover stood at 1.73 Billion Euros in 2023. The year-on-year growth has fluctuated, with notable declines such as in 2014 (-9.99%) and 2020 (-4.51%), offset by periods of growth like 2017 (7.8%) and 2018 (12.17%). Over the past two years, from 2022 to 2023, the average year-on-year growth was around 1.3%. The forecasted average growth rate (CAGR) for the next five years is estimated at 0.95%, expecting a total growth of 4.85% by 2028.
Future Trends to Watch:
- Technological advancements in machinery.
- Government policies and subsidies affecting agriculture.
- Shifts in agricultural practices and crop patterns.
- Environmental factors impacting forestry operations.
