In 2023, the Agricultural and Forestry Machinery Manufacturing Market size in Denmark stood at 875.46 million Euros, reflecting a steady growth pattern with a year-on-year increase of 3.38% and a CAGR of 3.58% over the last five years. The market has demonstrated resilience and steady growth despite minor fluctuations.
Between 2013 and 2017, the market exhibited consistent growth with occasional spikes, notably in 2017 with a 10.07% increase. However, 2018 saw a sharp decline of 9.96%, which impeded the overall growth trajectory briefly. Since 2019, the market has recovered and experienced steady year-on-year growth, particularly notable in 2020 during a 7.48% increase. The market continued to grow, reaching 875.46 million Euros in 2023.
Looking ahead, forecast data from 2024 onwards indicates a positive outlook with consistently increasing values, culminating in 1014.5 million Euros by 2028. This period is expected to witness a 5-year CAGR of 2.34%, translating to a 12.25% growth rate by 2028, highlighting a stable, upward trend for the industry.
Future trends to watch for include technological advancements in machinery, sustainability initiatives, and potential shifts in agricultural policies. Continued investments in automation and precision farming techniques are likely to drive growth, while environmental regulations may influence market dynamics. Keeping an eye on these factors will be crucial for understanding the market’s direction.
