The Spanish Logistics Landscape: Connecting Efficiency and Innovation

The Spanish logistics market experienced a notable recovery in 2024, driven by a more stable and favorable economic environment. This resurgence marks a turning point after the slowdown observed in 2023, laying the groundwork for a promising 2025. Below are the key aspects of the report detailing this evolution and projections for the near future.

Spain positions itself as one of the fastest-growing advanced economies, recording a GDP increase of 3.2% in 2024 and a forecast of 2.5% for 2025. Inflation shows a downward trend, driven by lower fuel and electricity prices, approaching the ECB's 2% target. Meanwhile, the unemployment rate has reached its lowest level since 2008. This positive economic outlook has significantly boosted activity in the logistics sector.

Logistics leasing exceeded expectations in 2024, with annual growth of 20% in Madrid and 40% in Barcelona compared to 2023. Third-party logistics providers (3PL) led the demand, followed by a notable increase in activity from manufacturing companies, driven by nearshoring.

Regarding supply, nearly 911,000 sqm were completed in Madrid and 250,000 sqm in Barcelona in 2024. The future supply of warehouses under construction for 2025-2026 is estimated at 820,000 sqm in Madrid and 300,000 sqm in Barcelona, with a trend towards build-to-suit projects (65% in Madrid, 80% in Barcelona) versus speculative ones.