Market Size of Germany Agricultural Machinery Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.80 % |
| Market Concentration | High |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
German Agricultural Machinery Market Analysis
The German agricultural machinery market is projected to register a CAGR of 3.8% during the forecast period.
Germany is one of Europe's largest markets for agricultural machinery and implements, supported by the large turnover for this industry in the country. The country is one of the world's largest exporters of agricultural machinery and the largest manufacturer and second-largest consumer of agri-machinery in Europe. German agricultural machinery is preferred worldwide because of its superior precision and innovative engineering. Germany is one of Europe's top destinations for FDIs in agricultural, construction, and mining machinery. These factors adequately drive the market in the country. Hence, farmers are increasingly adopting agricultural mechanization as a substitute for manual labor with a more cost-effective, easily available, and more efficient means of agricultural operation. Tractors, the primary power source for driving agricultural machinery, have thus seen a phenomenal rise in sales in the country.
