The import of agricultural, horticultural, or forestry machinery to Belgium has seen fluctuating trends over the past decade. Starting from a peak of 155.96 million USD in 2013, there was a significant decline of -22.97% by 2015. The market gradually recovered with modest growth, reaching 135.2 million USD in 2023.
Over the last two years, the year-on-year growth rate has stabilized around 1-1.02%. The compound annual growth rate (CAGR) over the last five years stood at 0.65%, indicating a relatively slow but steady increase.
Looking ahead to 2028, forecasts show an anticipated CAGR of 0.74%, with the market expected to reach 141.66 million USD, marking a total growth rate of 3.74% from 2024 to 2028.
Future trends to watch for include advancements in machinery technology, sustainability practices in agri-machinery, and policy changes impacting import regulations. Monitoring these factors will be crucial for anticipating market shifts.
