Over the period from 2013 to 2023, the turnover for parts and accessories for motor vehicles in Spain exhibited fluctuating trends. The value in 2023 stood at 21.71 billion euros. Key growth periods were between 2014-2015 and 2015-2016, marked with increases of 10.75% and 6.16%, respectively. The market demonstrated resilience with steady year-on-year growth until a notable dip of 17.02% in 2020 due to external disruptions, followed by a recovery trajectory reflected by subsequent year-on-year increases reaching 7.51% in 2022, and 5.36% in 2023. The compound annual growth rate (CAGR) over the last five years leading to 2023 was 0.99%.

Future trends to watch for:

The forecasted CAGR for the period from 2024 to 2028 is estimated at 1.29%, suggesting moderate and consistent growth.
Innovation in vehicle technology and shifts towards electric vehicles may impact demand patterns.
Economic factors, regulatory changes, and global supply chain dynamics could influence market volatility and growth rates.