The turnover in the Repair of Motor Vehicles and Motorcycles sector in Norway stood at 2.1 trillion Norwegian Krones in 2023. The forecasted data indicates a steady growth in turnover from 2024 to 2028, with values rising from 2.176 trillion NOK in 2024 to 2.421 trillion NOK by 2028. The year-on-year variations from 2024 to 2025 and onwards depict an incremental trend with an approximate annual growth rate of 2.8% in 2024, and 2.9% in 2025, incrementally growing to 2.8% annually up to 2028. The last 5-year compound annual growth rate (CAGR) is approximately 2.8%.
Future trends to watch for in this sector include the impact of advancements in electric and autonomous vehicle technologies, which might alter the nature of repairs and services required. Additionally, government policies aimed at environmental sustainability and digitalization could drive further innovation and efficiency in repair services.
