The production in the manufacture of electronic components and boards sector in Spain exhibited a significant positive trend from 2013 to 2023, with the value standing at 2290.0 million euros in 2023. Over the last decade, the sector experienced fluctuations, but overall, there has been substantial growth. Between 2013 and 2018, the year-on-year variation showcased consistent growth, with a notable spike in 2015 (24.87%) and 2019 (34.21%). Despite a dip in 2020 (-9.66%) due to potential external factors like the global pandemic, the sector quickly rebounded, indicating resilience and robustness.
Recent years (2021-2023) have seen stable growth rates, with a year-on-year variation of 13.15% in 2021, 8.15% in 2022, and 7.46% in 2023. The Compound Annual Growth Rate (CAGR) for the period of 2019-2023 stands at 9.78%, illustrating consistent medium-term growth. Looking ahead, the forecast for 2024 and beyond remains promising, with a projected CAGR of 4.59% over the next five years, culminating in a 25.14% growth rate by 2028.
Future trends to watch for in this sector include advancements in technology, increased demand for electronic components in various industries, and potential impacts of global economic conditions. The adaptation of new manufacturing technologies and the integration of IoT, AI, and 5G could further drive growth and innovation in this sector.
