In Austria, the Motor Vehicle Wheels (and Including Parts) market has experienced significant fluctuations over the past decade. From 2012 to 2022, the market size showed periods of both growth and decline, reflecting the broader dynamics in the automotive sector. The market peaked in 2018 at $686.91 million before experiencing a slight dip in the subsequent years with a value of $662.68 million in 2022. Notably, between 2021 and 2022, the market saw a year-on-year growth of 6.22%, a positive uptick after consecutive declines from 2019 to 2021.
Key trends observed over the last decade include:
- A significant drop in 2015 with a year-on-year variation of -19.91%.
- Recovery in the following years, with notable growth rates in 2016 (10.59%) and 2017 (12.7%).
- The highest growth in market size was recorded in 2018 at 11.69%.
- Post-2018, the market experienced moderate fluctuations with minor dips until a recovery in 2022.
- The average annual growth rate (CAGR) over the last five years stood at 1.5%.
As we progress in 2024, several future trends should be monitored closely. These include technological advancements in wheel manufacturing, increasing emphasis on sustainability, and potential shifts in automotive industry demands due to evolving consumer preferences and regulatory changes. The impact of electric vehicles on the wheel parts market will also be a critical factor influencing future growth.
How does Austria rank in Motor Vehicle Wheels (And Including Parts) Market Size Value?
| # | 36 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 39,551,000,000 | 2023 | +2.38% | +2.35% | View data |
| 2 | 2 China | 19,307,000,000 | 2023 | +3.7% | +3.76% | View data |
| 3 | 3 Germany | 8,397,200,000 | 2023 | +1.11% | +1.25% | View data |
| 4 | 4 Japan | 7,915,500,000 | 2023 | -0.11% | -1.47% | View data |
| 5 | 5 United Kingdom | 3,316,600,000 | 2023 | +0.57% | +0.48% | View data |
| 14 | 14 South Korea | 717,080,000 | 2023 | +4.03% | +5.04% | View data |
| 15 | 15 Netherlands | 666,990,000 | 2023 | +1.8% | +1.95% | View data |
| 16 | 16 Austria | 627,670,000 | 2023 | +0.79% | -1.79% | |
| 17 | 17 Australia | 608,820,000 | 2023 | -4.5% | -4.36% | View data |
| 18 | 18 Poland | 581,770,000 | 2023 | -1.34% | -1.9% | View data |
