The number of trucks for agricultural use in state farms in China was 7.96 million units in 2023. The data reveals fluctuations over the years, with significant declines in 2014, 2015, 2017, 2018, and 2020. A notable drop occurred in 2020 with a 15.36% decline. Recovery signs appeared with a rise of 23.69% in 2021, though the market steadied out with minor variations in the following years. The five-year CAGR up to 2023 stood at 0.93%, indicating moderate growth.

The forecast points to a slightly upward trend, with the number of trucks expected to gradually increase to 8.23 million units by 2028. The forecasted five-year CAGR is at 0.49%, and the forecasted five-year growth rate is 2.47%.

Future trends to watch include:

Technological advancements in agricultural machinery.
Policy changes impacting state farm equipment investments.
Global and domestic economic factors influencing agricultural production.
Environmental regulations and sustainable farming practices affecting equipment use.