Key Market Indicators
Belgian commercial vehicle registration is projected to reach approximately 1.25 million units by 2028, rising from around 1.02 million units in 2023. This represents a compound annual growth rate (CAGR) of 3.2%. Since 2010, the Belgian market has experienced a significant increase, growing by 62.5% year on year. In the global ranking for 2023, Belgium held the eighth position. Indonesia surpassed Belgium with the same number of units registered in 2023. Meanwhile, Canada, Mexico, and Argentina occupied the second, third, and fourth spots, respectively, in this ranking.
