The sold production of parts of soil machinery in Austria has shown significant fluctuations from 2013 to 2023, standing at 71.941 million Euros in 2023. After experiencing volatility, with sharp declines in 2015 and 2016, the market entered a phase of robust growth from 2017 onwards. Notably, the sector surged by nearly 148% in 2018 and kept a steady upward trend, with double-digit year-on-year growth observed in almost all subsequent years. Over the last five years, the compounded annual growth rate (CAGR) stood at an impressive 18.23%.
Looking forward, the forecasted CAGR for the next five years (2024-2028) is 6.15%, indicating a more moderated but still positive growth trajectory. By 2028, the market is expected to grow by 34.75% compared to 2023 levels, reaching 106.42 million Euros. Future trends to watch for include technological advancements in machinery, increased emphasis on sustainable agricultural practices, and growing investments in precision farming equipment, which could foster further market expansion.
