The industrial cooling and ventilation equipment sector in Spain observed significant fluctuations between 2013 and 2023. Employment sharply rose from 2014 to 2017, peaking in 2018 at 11.57 thousand employees. Post-2019, the sector faced declines, settling at 11.16 thousand in 2023. The year-on-year variation from 2022 to 2023 was -0.51%, with a CAGR of -0.73% over the last five years, indicating a slowing trend. The forecast suggests a gradual decrease, with 2028 projections at 10.98 thousand employees, marking a forecasted 5-year CAGR of -0.23% (negative growth rate of -1.13%).
Future trends to watch for include technological advancements driving automation, potentially impacting employment levels. Regulatory changes and sustainability initiatives may also necessitate shifts in workforce skill sets.
