The electronic components and electronic boards market in Spain has shown significant growth from 2013 to 2023, escalating from 851.1 million Euros to 2120.0 million Euros. The market experienced robust year-on-year growth rates, particularly in 2019, with a notable 33.67% increase. However, the market faced a brief decline in 2020, attributed to external factors, before resuming its growth trajectory.
In 2023, the turnover for electronic components and electronic boards stood at 2120.0 million Euros, marking a 4.27% year-on-year growth. The compound annual growth rate (CAGR) over the last five years (2018-2023) was 8.06%, indicating a strong upward trend in the sector.
Looking ahead, from 2024 to 2028, the forecasted CAGR is expected to moderate to 2.26%, signaling a potential slowdown. Despite this, the five-year growth rate remains relatively healthy at 11.83%, suggesting continued, albeit slower, expansion.
Future trends to watch for include technological advancements in electronic components, increasing demand for smart devices, and potential disruptions from global supply chain issues. Monitoring these factors will be crucial for stakeholders in anticipating market dynamics and adjusting strategies accordingly.
