The turnover in the Plumbing, Heat and Air-Conditioning Installation sector in Spain has seen significant fluctuations over the years. From a value of €6.76 billion in 2013, the market experienced steady growth, peaking at €9.99 billion in 2019. However, starting in 2020, there was a sharp decline attributed to the COVID-19 pandemic, with a drop to €8.66 billion, marking a year-on-year decrease of 13.26%. The downward trend continued, culminating in a value of €7.79 billion in 2023, a year-on-year decline of 4.65%.
The future outlook indicates a continual decline with a forecasted value of €4.87 billion by 2028, which translates to a 5-year CAGR of -7.51% and an overall contraction of 32.32% over the forecast period. The year-on-year declines expected in the upcoming years signal a challenging time ahead for the sector.
Future trends to watch for include:
- Potential recovery efforts post-pandemic and economic stabilization impacts.
- Technological advancements and sustainable practices improving efficiency.
- Government policies and regulations impacting the sector.
- Consumer demand fluctuations and economic factors influencing renovation and new installations.
