The Spanish railway locomotives and rolling stock production witnessed fluctuations in the past decade, peaking in 2020 at €2.25 billion before dramatically falling in 2021 to €0.86 billion. Production slightly recovered to €1.10 billion by 2023. The greatest growth occurred between 2016 and 2018, but it saw a sharp decline post-2020. The 5-year CAGR leading up to 2023 was -13.12%, evidencing a volatile market.
Future trends to watch for include a modest growth trajectory with an anticipated 1.15% CAGR from 2023 to 2028. Pivotal factors may include technological advancements, EU green initiatives, and significant public transport infrastructure investments.