Over the past decade in Belgium, the value per capita in the motor vehicle radiators market showed a declining trend from 2013 to 2023. Starting at $12.34 in 2013, the value decreased significantly, with some fluctuations, reaching $6.01 in 2023.
Year-on-year analysis shows notable changes with the most recent two years (2022, 2023) indicating a continued downward trajectory, with per capita value dropping by 4.3% from 2022 to 2023. Moreover, over the last five years, the compound annual growth rate (CAGR) averaged a decline reflecting a consistent shrinkage in market value.
Future trends to watch for include the impact of electric vehicle adoption which may alter demand for traditional radiators. Technological advancements and environmental regulations could also shape market dynamics, potentially offsetting the declining trend by creating an increased demand for advanced cooling systems in new vehicle models.
| # | 36 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Spain | 23.2 | 2023 | View data | ||
| 2 | 2 Finland | 21.81 | 2023 | View data | ||
| 3 | 3 Netherlands | 16.76 | 2023 | View data | ||
| 4 | 4 Italy | 16.59 | 2023 | View data | ||
| 5 | 5 France | 13.78 | 2023 | View data | ||
| 11 | 11 Iceland | 6.81 | 2023 | View data | ||
| 12 | 12 New Zealand | 6.4 | 2023 | View data | ||
| 13 | 13 Belgium | 6.01 | 2023 | |||
| 14 | 14 Barbados | 6 | 2023 | View data | ||
| 15 | 15 Chile | 5.64 | 2023 | View data | ||
