The sold production value of self-propelled forage harvesters in Spain has seen various fluctuations from 2013 to 2023. In 2023, the production stood at 10.63 million Euros. Between 2018 and 2023, the year-on-year variation exhibited notable swings. Following a peak in 2018, there was a decline in 2019, a recovery in 2020, a slight decrease in 2021, and consistent growth in 2022 and 2023. The Compound Annual Growth Rate (CAGR) over the last five years up to 2023 is -0.31%, indicating a slight downward trend.
Forecasts from 2024 indicate gradual growth with the value expected to reach 11.773 million Euros by 2028. The forecasted five-year CAGR is 1.62%, reflecting a moderating pace of growth relative to previous years. Overall, the forecasted five-year growth rate is projected at 8.37%.
Future trends to watch for include technological advancements in agriculture equipment, potential increases in agriculture investments, and economic factors that could influence production levels. Monitoring macroeconomic conditions and policy changes in the agricultural sector will also be crucial in predicting future trends.