The electronic components and electronic boards production value in Spain has shown significant growth over the years, starting from 822.4 million Euros in 2013 and reaching 2230.0 million Euros in 2023. The year-on-year variation indicates substantial fluctuations, ranging from a notable increase of 34.21% in 2019 to a decrease of 9.66% in 2020. The Compound Annual Growth Rate (CAGR) has generally been positive, reflecting an average uptrend despite occasional down years.
Over the last two years, we observe a year-on-year growth of 6.65% in 2022 and 5.81% in 2023. The last five years' CAGR stands at 9.16%, indicating sustained growth momentum. Forecasts for the upcoming years suggest a more moderate growth with a forecasted 5-year CAGR of 3.09% and an overall growth rate of 16.45% by 2028.
Future trends to watch for include advancements in technology, global supply chain shifts, and potential impacts from economic policies or international trade agreements. Maintaining competitiveness will require continuous innovation and adaptation to emerging market demands.
