Forecast: Forestry and Agricultural Machinery Turnover in Norway

The turnover for forestry and agricultural machinery in Norway is forecasted to decline from 2024 to 2028. In 2023, the turnover stood at 193.4 million Euros. By 2024, it is projected to drop slightly to 188.3 million Euros, marking a year-on-year decrease of 2.6%. This downward trend continues in the subsequent years, with values reaching 183.2 million Euros in 2025 (-2.7%), 178.2 million Euros in 2026 (-2.7%), 173.1 million Euros in 2027 (-2.9%), and finally, 168.2 million Euros in 2028 (-2.8%). Over the entire forecast period, the compound annual growth rate (CAGR) is -3.4%.

Future trends to watch for include advancements in sustainable and precision agriculture technologies, which may mitigate the decline in turnover. Additionally, economic policies and funding for green initiatives could influence market dynamics, potentially reversing the downward trend.