The United Kingdom leads in R&D expenditure in repair and installation of machinery and equipment among the listed countries, with a value of 35.39 million USD PPP in 2023. Recent trends indicate significant growth in Slovakia and Hungary, with increases of 26.04% and 12.83%, respectively. Poland also showed substantial growth at 9.39%. Conversely, Italy and Spain saw declines of 3.94% and 2.41%, respectively. Long-term variations suggest moderate growth across several European countries, though individual disparities persist.
Future trends to monitor include the effects of technological advancements, which may drive up R&D investments, particularly in automation and sustainable practices across these nations. The digital transformation in maintenance and machinery sectors may fuel further investments, with collaborative efforts in innovation potentially altering country-level shares in R&D expenditure.
Top countries in Business Enterprise R&D Expenditure in Repair and Installation of Machinery and Equipment Share by Country (Million US Dollars PPP)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 35.39 | 2023 | +3.11% | +4.45% | View data |
| 2 | 2 Italy | 16.91 | 2023 | +1.75% | -3.94% | View data |
| 3 | 3 Poland | 13.98 | 2023 | +7.43% | +9.39% | View data |
| 4 | 4 Hungary | 6.54 | 2023 | +12.43% | +12.83% | View data |
| 5 | 5 Slovakia | 5.34 | 2023 | +17.03% | +26.04% | View data |
| 6 | 6 Norway | 4.97 | 2023 | +7.01% | +6.25% | View data |
| 7 | 7 Portugal | 3.73 | 2023 | +2.84% | +16.5% | View data |
| 8 | 8 Spain | 3.61 | 2023 | -4.34% | -2.41% | View data |
| 9 | 9 Canada | 2.78 | 2023 | -1.49% | +0.63% | View data |
| 10 | 10 South Korea | 2.02 | 2023 | +4.75% | -2.77% | View data |
