Agricultural Machinery Market – Germany Industry Analysis, Growth, Share, Size, Trends, and Forecast The German agricultural machinery market size is estimated to register a substantial CAGR of above 3.8% during the forecast period, 2021–2028. The growth of the market is attributed to adoption of modern technologies by farmers to increase farm yield & meet the soaring demand for food.
Agricultural machinery is machinery used in farming or other agriculture activities. There are various types of such equipment, from hand tools & power tools to tractors and numerous kinds of farm implements that they operate or tow. Diverse arrays of equipment are used in both organic & nonorganic farming. Especially since the advent of mechanized agriculture, agricultural machinery is an indispensable part of how the world is fed. Germany is one of the largest markets for agricultural machinery and implements in Europe, supported by the large turnover for this industry in the country. The country is one of the largest exporters of agricultural machinery in the world, as well as the largest manufacturer and the second-largest consumer of agri-machinery in Europe. German agricultural machinery is preferred worldwide because of superior, precision, and innovative engineering. Germany is one of the top destinations for FDIs in agricultural, construction, and mining machinery in Europe. Furthermore, Germany has also developed a very well-trained and skilled workforce to use its state-of-the-art agricultural machinery, which enables the utilization of top technology in crop fields. The harvested area for primary crops in the country has seen an increasing trend in the past few years, from 8.86 million hectare in 2015 to 8.91 hectare in 2018. The Covid-19 pandemic had an adverse impact on the German agricultural machinery. The production and supply in the market has been on halt owing to lockdown; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.