From 2013 to 2023, the domestic appliances turnover in Spain showed fluctuating trends. The highest turnover was recorded in 2015 at 2.66 billion euros, reflecting short-term growth periods followed by declines. By 2023, the turnover stood at 2.32 billion euros, with year-on-year decreases of 3.26% and 3.34% in 2022 and 2023, respectively. Over the past five years, the CAGR was -2.42%, indicating a consistent downward trend.
Future trends to watch for include:
- Adoption of energy-efficient appliances due to rising energy costs
- Increased demand for smart appliances leveraging IoT technologies
- Potential market growth through innovations and sustainability initiatives
- Impact of economic factors and consumer spending power on turnover
