Forecast: Number of Registered Cars in Belgium

The number of registered cars in Belgium has seen slight but steady growth from 2015 to 2019, peaking at 515.37 units per thousand persons in 2019. A notable decline occurred in 2020, with values dropping to 511.05, likely due to the COVID-19 pandemic. Recovery began in 2021, inching back to 513.03 units. As of 2023, the registration stood at 513.44 units, reflecting a modest year-on-year increase of 0.29%. Over the last five years, the Compound Annual Growth Rate (CAGR) is -0.0043%, showcasing a generally flat trend.

Forecasts from 2024 to 2028 indicate a gradual increase in vehicle registrations, with a 5-year CAGR of 0.2%, culminating in 519.96 units by 2028. This suggests a steady, albeit slow, growth trajectory for the coming years.

Future trends to watch for include:

• Advancements in electric vehicles and associated infrastructure.
• Economic factors that may impact consumer purchasing power.
• Regulatory changes targeting vehicle emissions and mobility.