Between 2013 and 2019, commercial vehicles registrations in Spain showed strong growth, reaching a peak in 2019. However, 2020 saw a significant decline due to the impact of external factors such as global economic downturns and crises. Although there was a brief resurgence in 2022, the downward trend resumed and the market stood at 133.93 thousand units in 2023, marking a significant 7.91% decrease from the previous year. The CAGR over the last five years highlights an average annual decline of 11.16%.
Looking ahead, forecasted data from 2024 to 2028 suggests a steady decline in commercial vehicle registrations. The market is expected to drop to 77.94 thousand units by 2028. This translates to an average annual decrease of about 8.65%, leading to an overall decline of approximately 36.38% over this period.
Future trends to watch for include the potential impact of emerging eco-friendly transportation technologies, regulatory changes on emissions, and economic recovery factors that could influence demand for commercial vehicles. Additionally, market adjustments due to new business models in logistics and transportation services could play a significant role in shaping the industry.
