The production value of machinery for mining, quarrying, and construction in Spain has shown a significant downward trend from 574.7 million euros in 2013 to 318.0 million euros in 2022, with notable year-on-year declines particularly in 2020 (18.63%) and 2021 (19.86%). The last two years continued this decline, with a 7.61% drop in 2023 and a 10.40% drop forecasted by 2024. The Compound Annual Growth Rate (CAGR) over the last five years is -12.11%, indicating a substantial average decrease each year.
Looking forward, the forecast indicates a continued decline with a five-year CAGR of -14.66%, resulting in a production value of 116.6 million euros by 2028. Future trends to watch for include potential market rebounds influenced by industry innovations, government infrastructure investments, and global economic conditions impacting the construction and mining sectors.
