Between 2013 and 2019, the production in the manufacture of domestic appliances sector in Spain showed fluctuations with a slight decline, achieving a peak in the early part of the period, followed by a downward trend. The production value in 2023 stood at 1.71 billion Euros, showing a continuation of the declining trend. The last two years, 2022 and 2023, saw year-on-year decreases of 3.99% and 4.11%, respectively. The CAGR over the last 5 years indicates an average annual decline of 4.74%.
Looking forward, the forecast through 2028 indicates a continuation of the downward trend with a forecasted 5-year CAGR of -3.73%, predicting a production value decrease to 1.35 billion Euros by 2028. This suggests a further contraction in the sector.
Future trends to watch for include:
- Technological advancements and automation which could impact production costs and efficiency.
- Consumer demand shifts towards energy-efficient and smart appliances.
- Possible regulatory changes impacting manufacturing practices and environmental standards.
- Global supply chain factors and their impact on production costs and timelines.
