The first registrations of brand-new goods vehicles in Belgium have shown various trends from 2013 to 2023. The data indicates a period of growth from 2013 to 2019, with a notable increase in 2015 (+13.01%) and 2016 (+10.73%). However, 2020 experienced a significant decline (-13.17%) primarily due to the COVID-19 pandemic. The recovery began in 2021 (+7.52%) and has continued modestly into 2022 (+4.28%) and 2023 (+2.74%). As of 2023, registrations stood at 7.56 units per thousand persons.
Looking at the longer-term trends, the CAGR over the last five years leading up to 2023 is relatively flat, showing minimal growth on average annually (+0.83%). Forecasts from 2024 to 2028 suggest a plateau, with registrations maintaining a stable rate of 7.56 units per thousand persons. The forecasted 5-year CAGR is almost negligible (+0.01%).
Future trends to watch for:
- Technological advancements in vehicle manufacturing could influence market dynamics.
- Environmental policies and the shift towards electric and hybrid goods vehicles.
- Economic factors and recovery post-pandemic.
- Infrastructure improvements impacting logistics and goods vehicle usage.
