In 2023, Hungary led with 66 gazelles in the motor vehicles and motorcycles sector, followed by Italy with 56. Lithuania had 30, Romania 20, and Portugal 13. The Czech Republic and Slovakia had 12 and 7 respectively, while Latvia had the fewest with only 2. Year-on-year growth showed Hungary experiencing the largest leap at 32.77%, while Latvia's count remained stagnant. Italy and Lithuania posted growth rates of 10.49% and 7.39%, respectively. Over the last five years, the compound annual growth rate revealed a steady increase in enterprise numbers across these countries.
Looking forward, we expect further growth in gazelles across Europe driven by technological advancements and policy support incentivizing sustainability and innovation. Watch for increasing investments in electric vehicles and digital innovations, which could reshape market dynamics, offering opportunities for emerging enterprises.
Top countries in Number of Young High Growth Enterprises (Gazelles) in Motor Vehicles, Motorcycles Wholesale, Retail and Repair by Country
| # | 8 Countries | Units (Enterprises) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Hungary | 66 | 2023 | +22.22% | +32.77% | View data |
| 2 | 2 Italy | 56 | 2023 | +19.15% | +10.49% | View data |
| 3 | 3 Lithuania | 30 | 2023 | +20% | +7.39% | View data |
| 4 | 4 Romania | 20 | 2023 | +25% | +3.3% | View data |
| 5 | 5 Portugal | 13 | 2023 | +8.33% | +1.61% | View data |
| 6 | 6 Czech Republic | 12 | 2023 | 0% | +3.71% | View data |
| 7 | 7 Slovakia | 7 | 2023 | +16.67% | +3.13% | View data |
| 8 | 8 Latvia | 2 | 2023 | 0% | 0% | View data |
