The market for brake system parts in Zambia, excluding motor vehicle linings, reached $22.375 million in 2023, marking a 4% increase from the previous year. Over the past decade, the market has shown periods of robust growth, particularly notable in 2018 with a 28.77% increase, followed by volatility. The 2020 downturn resulted from a 12.97% contraction, yet the subsequent recovery has been positive with a 9.74% increase in 2022. The Compound Annual Growth Rate (CAGR) over the last five years stands at 3.17%, reflecting steady moderate growth despite fluctuations.
- Continued growth potential lies in technological advancements and the increasing push for improved safety infrastructure.
- Emerging automotive trends and environmental regulations may influence market dynamics.
- Monitoring shifts in global supply chains will be crucial for anticipating future market changes.
How does Zambia rank in Brake System Parts (Except Motor Vehicle Linings) Market Size Value?
| # | 45 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 22,976,000,000 | 2023 | +4.79% | +4% | View data |
| 2 | 2 Japan | 7,095,400,000 | 2023 | -1.42% | -1.92% | View data |
| 3 | 3 United Kingdom | 5,853,800,000 | 2023 | +0.35% | -1.02% | View data |
| 4 | 4 Italy | 5,843,800,000 | 2023 | +0.34% | -0.96% | View data |
| 5 | 5 France | 5,783,300,000 | 2023 | -1.43% | -3.01% | View data |
| 37 | 37 Sri Lanka | 25,720,000 | 2023 | -6.08% | -6.59% | View data |
| 38 | 38 Iceland | 25,295,000 | 2023 | +4.27% | +4.39% | View data |
| 39 | 39 Zambia | 22,375,000 | 2023 | +4% | +3.17% | |
| 40 | 40 Cyprus | 15,459,000 | 2023 | +0.55% | +0.32% | View data |
| 41 | 41 Mauritius | 14,161,000 | 2023 | +2.85% | +2.4% | View data |
