The value added of transport equipment in Spain has shown a fluctuating yet generally upward trend from 2013 to 2023, reaching 18.09 billion Euros in 2023. The year-on-year variations have been volatile, with significant drops observed during economic downturns, such as in 2020, and strong recoveries in subsequent years. The most recent data indicate a year-on-year growth of 1.55% for 2023, with a CAGR of 1.3% over the last five years.
From 2024 onwards, forecast data suggest a continued growth trajectory. The projected CAGR stands at 1.23% over the next five years, leading to an increase in the value added to 19.49 billion Euros by 2028. This represents a total growth rate of 6.29% over the forecast period.
Future trends to watch for:- The impact of technological advancements on transport equipment manufacturing, including automation and electric vehicles.- The effects of global supply chain disruptions due to geopolitical tensions or other macroeconomic factors.- Sustainability initiatives and green policies which could significantly influence the sector's growth dynamics.
