The Spanish Manufacture of Fluid Power Equipment sector has experienced significant fluctuations over the past decade. From a measurable dip in 2013 with a year-on-year decline of 5.12%, the sector saw a robust recovery reaching a peak growth in 2015 with an 18.26% increase. Noteworthy growth continued until 2019; however, 2020 marked a substantial decrease of 16.91% due to global economic disruptions. Recent years reflect a steady recovery with a 14.42% increase in 2021 and a gradual growth in subsequent years, standing at €668 million in 2023. Over the last two years, the sector grew by 9.43% and 7.17% respectively, with an average annual growth (CAGR) of 4.06% over the past five years.
Looking ahead, the forecast data indicates a continued upward trend with a moderate growth rate, anticipating a 13.02% increase by 2028 and a forecasted 5-year CAGR of 2.48%. Future trends will likely be influenced by technological advancements, increased automation, and a push towards sustainable solutions in fluid power equipment. Monitoring the impact of these trends alongside market innovations is crucial for anticipating future sector performance.
