In Argentina, the motor vehicle bumpers and bumper parts market value per capita witnessed a decline from 2013 to 2023, ending at $5.57 in 2023. This decline illustrates a sustained downward trajectory over the decade. Recent years have seen slight fluctuations, with a modest increase in 2021 followed by a small decrease in 2023. Compared to 2022, the market value per capita in 2023 decreased by 3.63% year-on-year. Over the last five years, the compound annual growth rate (CAGR) showed an average annual decline of 3.89%.
Future trends to watch include the increasing adoption of electric vehicles, which may impact bumper manufacturing due to specific material and design requirements, and advancements in automotive technology driving demand for lightweight, durable bumper materials.
