Record-Breaking Growth: Spanish Machine Tool Sector Hits €2 Billion Milestone in 2023

In a remarkable achievement, the Spanish machine tool sector, encompassing machinery, components, and cutting tools, reached unprecedented heights in 2023, surpassing €2 billion in turnover. Despite a hesitant start, the sector exhibited remarkable dynamism, recording a staggering growth of 17.1 percent compared to 2022 figures.

Metal forming emerged as a standout performer, experiencing a remarkable surge of 37.6 percent, while metal cutting also saw significant growth, increasing by 15 percent. This growth was propelled by substantial investments in the automotive sector and contributions from industries such as energy and aeronautics.

Exports played a pivotal role, witnessing a growth of over 20 percent and reaching €1.552 billion, with the US emerging as the top destination for Spanish exports for the first time in years. Notably, metal forming exports soared by 64 percent, reflecting the sector’s robust performance on the global stage.

Looking ahead, the forecast for 2024 remains moderately optimistic, with expectations of continued growth fueled by an interesting order backlog. However, challenges such as market volatility and economic uncertainties persist, impacting investment confidence.

As the industry gears up for BIEMH 2024, Spain’s premier industrial event, the focus remains on sustainable productivity, automation, and digitalization as essential drivers of future industry growth. With an array of exhibitions, conferences, and networking opportunities, the event aims to promote collaboration and innovation within the manufacturing ecosystem.

Amidst this growth trajectory, AFM Cluster, Spain’s leading industrial ecosystem, emphasizes the need for industrial talent to sustain the sector’s momentum. With nearly 800 companies and a diverse range of opportunities, the sector offers an exciting and rewarding career path for skilled professionals seeking to contribute to a prosperous and sustainable society.

Original source MMI