The land transport and transport via pipelines sector in Spain has shown steady growth from 2013 to 2023, culminating at 57.97 billion Euros in 2023. The year-on-year variation typically ranged from -2.39% to 8.46%, indicating a mostly positive growth trend except for a notable decline in 2020 due to COVID-19 impacts. Over the last two years (2022-2023), the sector rebounded with growth rates of 3.74% and 4.35% respectively. The latest 5-year CAGR (2019-2023) stood at 1.79%.
Looking forward, the forecast predicts continuous growth for the next five years with a forecasted CAGR of 1.42% by 2028. By that year, the sector is expected to reach an output of 63.4 billion Euros, translating to a cumulative growth rate of 7.33% from 2023.
Future trends to watch for include the impact of technological advancements in transportation, policies promoting sustainability and reduction of carbon emissions, as well as potential economic fluctuations which could influence demand and investment in the sector.
