The Portuguese Agricultural and Forestry Machinery Manufacturing market had a consistent growth between 2013 and 2023, increasing from €358.47 million to €586.89 million in value. Despite fluctuations, the industry demonstrated resilience with an average CAGR of 5.1% over the past five years. Recent annual growth rates reveal a slight deceleration, with 2023's year-on-year increase at 3.26% compared to 4.71% in 2022.
Future trends to watch for include:
- Technological advancements in machinery leading to increased production efficiency.
- Growing focus on sustainability and environmentally friendly practices.
- Potential impacts of global economic conditions on export opportunities and costs.
- Adoption of precision agriculture techniques driving demand for advanced machinery.
How does Portugal 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% | View data |
| 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 |
| 7 | 7 Denmark | 875,460,000 | 2023 | +3.38% | +3.58% | View data |
| 8 | 8 Hungary | 681,220,000 | 2023 | +4.53% | +0.6% | View data |
| 9 | 9 Portugal | 586,890,000 | 2023 | +3.26% | +2.43% | |
| 10 | 10 Ireland | 431,500,000 | 2023 | +4.42% | +3.75% | View data |
| 11 | 11 Estonia | 224,370,000 | 2023 | +0.89% | -0.68% | View data |
