In 2021, The Western European agricultural machinery market was worth around USD 37,189.4 million, and the market value will be progressing at a rate of 3.4% from 2022–2030. Moreover, the Central European agricultural machinery market was worth around USD 12,489.2 million in 2021, and the market value will be progressing at a rate of 4.3% from 2022–2030, as per P&S Intelligence.
The major reasons behind the growth of the market are the high cost of farm automation, the increasing price of farm labor, the booming popularity of agricultural machinery, and progressing technology.
In Europe, farming has long been a labor-intensive. Though, as people are migrating to urban regions, the employment cost in this sector has fallen over time. Agriculturalists are progressively utilizing agricultural technology to swap with manual labor, as agricultural technology is a more lucrative, always obtainable, and effective way of agriculture.
Browse detailed report - Western and Central Europe Agricultural Machinery Market Analysis and Demand Forecast Report
Agriculturalists are under a continuous burden to fulfill the requirement for food of the growing population, which is encouraging them to emphasize on the efficiency of production. Precision farming is gaining traction among farmers who desire to maximize their output while working with limited resources.
This agricultural technology has the potential to efficiently address the problem of food shortage. It enables for more effective use of resources including, seeds, fertilizers, water, and agricultural equipment, thus ensuing in a higher crop amount and quality.
Hence, the high cost of farm automation, the growing price of farm labor, the increasing popularity of agricultural machinery, and progressing technology are the major reasons propelling the agricultural machinery industry in Western and Central Europe.