The electrical equipment turnover in Spain increased from €5.82 billion in 2013 to €8.16 billion in 2019. A decline followed in 2020 due to the pandemic's impact, with subsequent years showing a downward trend. The compound annual growth rate (CAGR) over the last five years is -1.7%, while the forecasted 5-year CAGR predicts a slight decline of -0.36%.
Future trends to watch include the impact of green energy transitions, governmental policy changes on renewable energy, and technological advancements in electrical engineering, which could influence the market positively along with global economic conditions.
