The employment in the manufacture of fluid power equipment sector in Spain witnessed fluctuations between 2013 and 2023. In 2023, the sector stood at 2.92 thousand full-time equivalent (FTE), representing a year-on-year variation of 2.6%. The last two years saw an average annual growth (CAGR) of 1.98%. Over the past five years, employment grew at an average annual rate of 3.94%, with notable year-on-year shifts such as a decrease of 3.62% in 2020 and an increase of 5.13% in 2021. From 2024 onwards, the sector is expected to continue its moderate growth trajectory with a forecasted five-year average annual growth rate (CAGR) of 1.83%, culminating in a total increase of 9.47% by 2028.
Future trends to watch for in this sector include advancements in automation and energy efficiency, which may impact employment dynamics. Additionally, the transition towards sustainable manufacturing practices is likely to play a significant role in shaping labor requirements and skill sets in the coming years.
