In 2023, the output of Land Transport and Transport Via Pipelines in Spain reached 57.2 billion euros. Over the last two years, the sector demonstrated resilience, with an 8.84% overall increase since 2021. Specifically, a significant recovery occurred post-2020's drop, marked by an 8.46% increase in 2021 and a 3.69% increase on a year-on-year basis from 2022 to 2023.
From 2013 to 2023, the compound annual growth rate (CAGR) was approximately 1.52%. This data illustrates a positive growth trend over the decade, despite the market's fluctuations, such as the 11.4% dip in 2020.
Looking ahead, the forecasted CAGR from 2024 to 2028 is expected to be 0.97%, indicating a steady but moderated growth trend. The sector's anticipated expansion of 4.96% over these five years could be attributed to advances in technology and regulatory frameworks enhancing operational efficiencies.
Future trends to watch for include the impact of digitalization on supply chain and logistics operations, increasing investments in sustainable transport solutions, and shifts in regulatory policies impacting regional and international transport dynamics. Additionally, external factors such as economic conditions and fuel price fluctuations will continue to influence market growth.
