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In singleplayer it doesn't matter assuming you're a halfway decent player and you aren't constantly swapping out what you're building or making multiple variants of the same vehicle and you can intelligently balance your industry so you don't need to drastically change what you're making repeatedly.
Way HOI4 works most nations get one war that "matters" for the run, and if you win you will snowball and as long as you don't get into a fight with say, the entire Allies including the USA, you'll win no matter what.
EG Germany who can knock out Poland, France and then if they get the UK it's basically impossible for them to lose Barbarossa and after that the only country to worry about is the USA and even that's just a case of getting to them, not actually having an issue defeating them with an entire European industrial base on your side.
HOWEVER.
Concentrated is best on nations who fight early wars and/or those who are limited in what they'll be able to make (which could be economic limitations or research slot limitations).
Dispersed's efficiency base & retention bonuses are better at getting newer tiers of item into production and in the end-game, adding Flexible Line means you lose very little production efficiency when swapping to a new model of something.
Once upon a time before they nerfed it concentrated was better. Now you should basically take dispersed every time.
If you are a poor country trying to do something you *might* want concentrated if you're just going to make basic weapons like the first gun and arty for several years.
Concentrated is even worse with the addition of MIOs where you're constantly changing your buidls.
Technically if you had all the tech on game start then concentrated would be better (as long as it wasn't a MP game where you were expecting to be bombed to oblivion).
The attrition values are insanely worse now for tanks. The no supply with railroads obliterates your units and makes them out of supply so the losses from attrition are 90% of your losses (against AI).
Use concentrated if you plan to build the same things until the end of the game as the output is slightly better.