Western and Central Europe Agricultural Machinery Market Analysis by Trends, Size, Share, Growth Opportunities, and Emerging Technologies

European agricultural machinery market will propel at a 3.4% compound annual growth rate, and reach USD 51,758.7 million, by 2030.

Likewise, the Central European agricultural machinery market will grow at a 4.3% compound annual growth rate, and reach USD 18,853.4 million, by 2030.

 

The main factors boosting the growth of the Western and Central Europe agricultural machinery industry are the increasing preference for agricultural machinery, high farm mechanization rate, technological advancement, and the rising price of farm labor.

 

Farmers are progressively implementing agricultural technology to substitute manual labor, owing to its ready availability, efficient farming method, and cost-effectiveness.

 

For example, as per GLFA (German Association of Agricultural Employers), the number of seasonal workers who usually come from Eastern Europe during peak harvest seasons in Germany has decreased in the past few years. Thus, the shortage of labor and the enhanced productivity through mechanization has resulted in the increasing requirement for agriculture machinery.

 

 

The growth in these regions is credited to the requirement to increase the productivity of farming, add value to agricultural raw materials, improve the quality of agricultural products, and lessen post-harvest loss. Additionally, these nations are two of the largest exporters of agricultural products globally.

The players in the industry have been involved in partnerships, expansions, and product launches to gain a competitive edge over their competitors.

 

It is because of the increasing preference for agricultural machinery, rising farm labor costs, high rates of farm mechanization, and technological advancement in agricultural machinery, the Western European agricultural machinery industry will continue to grow in the years to come.