The industrial gases sector in Spain saw fluctuations in hours worked from 2013 to 2023, peaking at 6.2592 million hours in 2013 and dropping to 4.4732 million hours in 2014. A period of relative stability and incremental increases occurred from 2016 onwards. By 2023, the hours worked stood at 5.1948 million hours, reflecting modest growth.
Key points include:
- 2022 to 2023 saw a year-on-year increase of 1.43% in hours worked.
- The compound annual growth rate (CAGR) averaged 1.95% over the last five years, reflecting steady albeit modest growth.
Looking forward, forecast data from 2024 to 2028 predicts a gradual increase, with a 5-year CAGR of 1.05% and an overall growth rate of 5.36%. As the industry continues to grow, key factors to watch include technological advancements, environmental regulations, and shifts in industrial demand which could significantly impact labor requirements.
