From 2013 to 2019, the turnover in the Repair of Motor Vehicles and Motorcycles sector in Spain showed a steady increase with some fluctuations. The year-on-year growth ranged from -0.96% in 2013 to 6.28% in 2017, indicating a positive trend overall. However, starting in 2020, the sector experienced a decline, with turnover falling each year through 2023, which recorded a drop of 1.3% from the previous year to stand at 698.93 Billion Euros. The Compounded Annual Growth Rate (CAGR) in recent years further confirms this downward trend, moving from positive growth to a decline of 1.44% by 2023.
Looking ahead, from 2024 through 2028, the forecasted data indicate a continued decline, with turnover expected to decrease at an average annual rate of 1.05%. The total reduction over this period is projected to be about 5.14%. Key drivers for this ongoing decrease may include advancements in vehicle technology leading to lower maintenance needs, increased competition from alternative transport modes, and potential economic challenges.
Future trends to watch for:
- Technological advancements such as automation and electric vehicles, which may reduce the frequency and type of repairs needed.
- Changes in consumer behavior towards vehicle ownership and usage, influenced by environmental policies and growing urbanization.
- Economic factors and regulatory policies impacting overall vehicle use and maintenance practices.
- The adoption of digital solutions and platforms for repair services which may reshape service delivery models.
