The output of environmental services in Spain's professional, scientific, and technical services sector has seen fluctuations over the past decade. From a base of 329.08 million Euros in 2014, the sector experienced declines, particularly in 2015 and 2016, with year-on-year reductions of 5.69% and 6.58% respectively. A recovery began in 2017, culminating in a notable spike in 2018 with a 19.88% increase. However, the COVID-19 pandemic saw a decline in 2020, followed by a resurgence in 2021 with a 22.25% rise. The current value in 2023 stands at 377.24 million Euros, reflecting a 2.04% year-on-year increase, but average annual growth over the last five years remains slightly negative at -0.4% CAGR.
Looking ahead, the forecasted growth trends are modestly positive. The sector is expected to grow steadily with an average annual growth rate (CAGR) of 1.5% over the next five years, culminating in an output of 414.38 million Euros by 2028, marking a 7.7% increase from 2023.
Future trends to watch for include advancements in green technologies, policy changes aimed at environmental sustainability, and increased corporate focus on ESG (Environmental, Social, and Governance) criteria. These factors could influence the sector's growth trajectory.
