The land transport and pipeline transportation output in Spain exhibited significant fluctuations over the past decade. Starting from 48.66 billion euros in 2013, it saw steady growth until 2020, when it dropped to 49.37 billion euros due to disruptions likely caused by external factors such as the COVID-19 pandemic. A recovery followed from 2021, with the value standing at 57.84 billion euros in 2023.
Year-on-year variations have also been notable, with peaks and troughs such as a 11.4% decline in 2020, followed by an 8.46% increase in 2021. The Compound Annual Growth Rate (CAGR) over the last five years averaged 1.74%, indicating a generally upward trend in the industry's output.
Looking forward, the sector is forecasted to grow modestly with a forecasted 5-year CAGR of 1.35%, reaching 62.96 billion euros by 2028. This translates to a forecasted 5-year growth rate of 6.92% from 2023 to 2028.
Future trends to watch for in this sector include potential impacts of technological advancements in transport and logistics, shifts towards sustainable and green transportation solutions, and the economic effects of evolving European Union transport policies and regulations.
