The production in Austria's agricultural and forestry machinery sector has shown a progressive increase from 2013 to 2023, rising from €1.83 billion to €2.44 billion. Despite occasional fluctuations, such as the 4.83% decline in 2015 and the 5.25% drop in 2020, the sector demonstrated resilience, with notable positive year-on-year variations like 13.82% in 2017 and 13.87% in 2018. As of 2023, the sector stood at €2.44 billion.
A closer look at recent trends:
- 2022 to 2023: Year-on-year increase of 2.41%.
- 2021 to 2022: Year-on-year increase of 2.51%.
Projected growth for 2024 to 2028 suggests a continuation of this positive trajectory, with a forecasted five-year CAGR of 1.71% and an overall growth rate of 8.86%. Future trends to watch include advancements in smart farming technologies, increased focus on sustainable machinery, and potential impacts of global economic conditions on production capacity and exports.
