9.1% Of Spanish Companies Improved Their Machinery Equipment In 2020

machineryThe renewal of machinery in Spain has been most intense in the manufacturing industry than in services

How old are the productive assets of the Spanish business network? 9.1% of companies have recently undertaken modernising their machinery. This compares with the 0.2% that work with obsolete equipment.The data comes from nearly 250,000 interviews with management teams of Spanish companies carried out by Iberinform in 2020. This amounts to the largest largest field work done each year in Spain.

New machinery is one of the main tools for introducing R&D contributions to the productive processes, improving the margins and the contribution to the value chain. In Spain, for every company working with obsolete machinery there are 45 companies improving their production capacity. The phenomenon also occurs in the improvement of production facilities, although it is less intense. Seven percent of companies have recently modernized their workspace, compared to 0.4% operating in areas in poor condition.

Galicia offers very high percentages of modernization, both of its machinery (14.2%) and of its facilities (23.5%). In addition to Galicia, the processes for improving machinery production capacity are particularly intense in Navarre (24.6%), the Balearic Islands (23%), the Basque Country (15.6%), the Valencian Community (15.2%) and Asturias (14.4%). In the case of facilities, Cantabria (23.4%), Asturias (11.9%) and Murcia (11.9%) stand out. By sector, the renewal of productive capacity has been most intense in the manufacturing industry, followed by services.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.