The Spanish market for electric domestic appliances has seen varying trends over the years. From 2013 to 2016, there was a notable decline in volumes, reaching a low in 2016. However, from 2017 onwards, the market began to stabilize and recover. Over the last two years, specifically from 2021 to 2023, there has been a robust recovery with year-on-year growth percentages of 24.45% in 2021, 9.73% in 2022 and 9.65% in 2023, bringing 2023 volumes to 5.0314 million items. The average annual growth rate (CAGR) over the past five years has been 8.96%.
Looking forward, the forecast indicates a continuous growth trend in production, with the estimated volumes expected to reach 7.1793 million items by 2028. The forecasted 5-year CAGR stands at 5.59%, suggesting sustained and steady growth, driven by advancements in technology and increasing consumer demand for electric domestic appliances.
Future trends to watch for include the impact of sustainability and energy efficiency on consumer preferences, the integration of smart technology in household appliances, and how economic conditions will influence spending on domestic appliances.
