The production value of engines and turbines in Spain stood at 1.35 billion Euros in 2023. Over the past two years, there has been modest growth, with values increasing by 3.56% in 2022 and 2.38% in 2023. The average variation over the last five years was 2.21% per year. Historically, the industry demonstrated fluctuations, with significant dips in 2015 and 2021 offset by peaks in 2014 and 2019.
Future projections indicate stable growth, with the forecasted production value steadily rising to 1.37 billion Euros by 2028. The compound annual growth rate (CAGR) over the next five years is expected to be 0.18%, reflecting a period of minimal growth.
Key future trends to watch for include advancements in eco-friendly engine technologies and the impact of regulations aimed at reducing carbon emissions. Additionally, the ongoing emphasis on renewable energy sources may drive innovations and demand within this sector.
