The automotive suppliers sector closed 2024 with a turnover of €41.238 billion, a slight 0.7% decrease compared to the previous year. After two years of sustained growth (+10.3% in 2023 and +17.8% in 2022), the sector is now entering a phase of deceleration, in a context marked by inflation, low production volumes, tight margins, and global uncertainty.
Despite this slight decline, the sector maintains a solid position in the global market, as reflected in its export figures. In 2024, exports totaled €25.065 billion, just 0.5% below 2023, and still at record levels. In fact, international sales account for more than 60% of total revenue, underlining the strategic importance of the Spanish components industry in key international markets.
From Autoparts from Spain—the internationalization platform for Spanish automotive suppliers—this global resilience is viewed positively as a reflection of the industry’s continued investment in internationalization, technology, and quality. “In an especially challenging environment, Spanish companies have once again proven their global competitiveness, consolidating their role as trusted partners for manufacturers and distributors worldwide,” said Mª Begoña Llamazares, Market Manager at SERNAUTO and spokesperson for the platform.
The sector continues to rely on innovation as a driver for the future, with R&D&I investment reaching €1.245 billion, equivalent to 3% of total turnover. Although this represents a slight 2% drop from 2023, it is still nearly three times the Spanish industrial average.
Investment in production capabilities, however, fell to €1.466 billion in 2024—a 12.3% decrease from the previous year, in line with the general sector slowdown. Even so, this figure highlights the industry's continued efforts to remain competitive and aligned with customer needs, thanks to ongoing investments in technology, internationalization, and production.
In 2024, the sector employed 325,200 people directly and indirectly. Direct employment remained stable with 203,250 workers, a 0.7% decrease. This employment stability demonstrates the industry’s commitment to talent, qualifications, and the development of increasingly digital and technological profiles—crucial to tackling the sector’s transformation.
2024’s exports reached €25.065 billion—virtually stable compared to the previous year (-0.5%). These international sales represent approximately 60% of total turnover, confirming the strength of the Spanish components industry in global markets and reinforcing the strategic role of exports as a growth engine.
Of the total exports, €16.655 billion (more than half) were within the European Union, with Germany and France as major trading partners, representing €3.95 billion and €3.84 billion respectively.
Domestic turnover reached €16.174 billion, showing mixed results. While supply chain-related activity declined by 6.7% (to €9.419 billion), the aftermarket experienced 7.3% growth (to €6.755 billion), consolidating its role as a key pillar for the sector’s stability and dynamism.
Looking ahead to 2025, the industry forecasts similar turnover levels, remaining above €40 billion, though without significant growth expected. The outlook will continue to be shaped by factors such as vehicle production volumes, the geopolitical context, and regulatory pressures.
Efforts are expected to continue in maintaining employment levels despite challenges, with a strong focus on digital and technological talent.
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