The Agricultural and Forestry Machinery Manufacturing Market in Germany has showcased a fluctuating yet general upward trend over the past decade. In 2023, the market stood at approximately 6.03 million units. The market experienced varying growth rates with significant surges such as in 2016 and 2017, but also underwent downturns, notably in 2018 and 2019. The year-on-year growth for 2022 and 2023 was observed at 6.3% and 3.33% respectively. Over the last five years, the market had an average annual growth rate (CAGR) of 3.17%. Looking ahead, the projected CAGR for the next five years is 2.3% with an overall forecasted growth rate of 12.06% by 2028.
Future trends to watch for include the integration of automation and IoT in machinery, an increased emphasis on sustainable and eco-friendly equipment, and government initiatives to support advanced agricultural practices. Monitoring technological advancements and regulatory changes will be crucial for stakeholders.
