Summary

Key Highlights
The logistics industry in Spain is expanding. The economy of Spain has witnessed high growth rates of more than 3% in the recent years, however, the growth has slowed down slightly in 2018 and is expected to further slowdown. Despite the economic slowdown, the logistics sector in the country remains attractive to investments and is expected to continue its rising trend through the forecast period.
Spain is located in a strategic geographic location where two of the European leading corridors, Mediterranean and Atlantic corridors circulate. The country acts as a gateway to the markets of Europe, Latin America, North Africa, and the Middle East. This makes the country a logistics hub for all modes of transport.
These corridors form part of the TransEuropean Transport Network (TEN-T) which facilitates the movement of people and goods between European regions via modern, efficient infrastructure. The network is expected to be fully operational by 2030.
The Mediterranean Corridor is one of the most vital freight routes due to its economic and demographic importance. It links the ports of Algeciras, Cartagena, Valencia, Tarragona, and Barcelona and continues into south-east France and on into northern Italy.
With a coastline stretching 8,000 Km, Spain is one of the leading European nations in maritime freight transportation. It is also one of the leading countries in terms of the rail network and road haulage.
E-Commerce is one of the major drivers of the logistics industry. The e-commerce sales in Spain are valued at more than EUR 25 billion and the sector is growing at rates of more than 15%. The growth in the e-commerce market is spurring the demand in warehousing and distribution sector.
Madrid and Barcelona are the two major logistics markets in the country with many companies concentrated along the primary logistics routes. The growth in e-commerce has driven up the take-up of logistics spaces in these areas in recent years.
The demand for logistics services from the growth of household consumption and international trade is driving the logistics sector in the country.


Key Market Trends

Cold Chain Logistics is expected to witness high growth through the forecast period

The strong growth in domestic consumption of perishable goods such as fresh foods, pharmaceutical products, etc. is increasing the demand for temperature-controlled storage across the country. According to the Spanish Association of Refrigeration, Logistics and Distribution, the northern region and the central region are the areas with most cold storage capacity. Similarly, it was observed that the Central region and Galicia witnessed the highest occupancy rate in 2018. The average occupation of cold storage in Spain reached 87.4% in 2018. During the same period, it was also observed that the output of the cold storage was highest in the Central region and Catalonia with EUR 67 million and EUR 33 million respectively.

The companies active in cold storage are diversifying their service offerings which are translating to increase in the turnover of the sector. STEF is one of the major companies in cold chain logistics and the country has a presence in around 15 European nations including Spain. Electricity has been a major challenge for the cold storage companies, the costs of which account for more than 30% of the cost of the service. The companies are adopting different strategies and making technological investments such as new refrigerants, intelligent lighting systems or improvements in insulation, installation of solar panels/wind turbines in order to optimize the price of energy.

Improving Cold Storage Equipment in Europe (ICE-E) is an EU project that aims to reduce energy consumption and greenhouse gas emissions from the European food cold storage sector through application of energy-efficient equipment choices in compliance with the EU’s energy and environmental policies.

Demand for logistics service from manufacturing sector is expected to grow in the future

Manufacturing sector is one of the major contributors of economy in Spain. Pharmaceuticals and automobiles are the primary export commodities from Spain’s manufacturing industry. The automobile sector is among Spain’s primary economic drivers. Spain is the second largest manufacturer of automobiles in Europe and ninth in the world with 17 manufacturing plants installed in the country. The sector accounts for about 19% of Spain’s annual exports and about 9% of the GDP. Even though there is a slight decline in the automobile production in the country mainly owing to the introduction of new EU emissions standards, the adoption of technology and the international demand are expected to boost the sector in the future.

More than 80% of the vehicles manufactured in Spain are exported to over 100 countries, this implies the need for an optimized logistics network. In July 2018, the France based GEFCO and Spanish company Berge Logistics have partnered to establish a joint venture to strengthen finished-vehicle logistics in Spain. The new equally-owned company, BERGÉ GEFCO has the capacity to manage 1.4 million cars annually, with more than 3 million Sq. m of vehicle storage, 700 vehicle trucks, 100 rail wagons and 40,000 Sq. m of workshop space.

Competitive Landscape

The freight and logistics market in Spain is fairly fragmented in nature with top five to ten players accounting for a significant market share. The logistics sector in the country is made up of both domestic and international enterprises. The international companies initially struggled against local companies, however the situation is changing. Some of the prominent players in the market include DHL, DB Schenker, Ceva Logistics, DSV, and TIBA amongst others. The industry has witnessed quite some consolidation in the recent times and is expected to continue further. The demand for integrated and specialized logistics solutions is rising. The logistics companies in the country are expected to adopt transport and warehouse management systems, big data and analytics to remain competitive.

Additional Benefits:

The market estimate (ME) sheet in Excel format
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