Over the past decade, the unit volume of road motor vehicles in Belgium has shown fluctuations. Starting from 13.4 units per million USD GDP in 2013, it experienced notable increases in 2015 and 2016. However, more recently, from 2018 to 2023, a declining trend emerged, with slight year-on-year decreases such as -0.96% in 2022 and -0.94% in 2023, reaching 14.42 units per million USD GDP in 2023. This extended period saw a somewhat steady annual compound growth rate (CAGR) hovering around modest positive and negative changes.
Looking ahead, forecast data predict a continued gradual decline in the volume, with the CAGR expected to be -0.7% from 2024 to 2028, resulting in a modest cumulative decrease of approximately 3.44%. In numerical terms, the value is projected to drop to 13.8 units per million USD GDP by 2028.
- Past decade showed fluctuations with peaks in 2015 and 2016.
- Recent years indicate a steady decline from 2018 onwards.
- 2023 recorded 14.42 units per million USD GDP.
- Forecasts predict a further decrease to 13.8 units by 2028.
- Five-year forecast CAGR stands at -0.7%.
Future trends to watch for include technological advancements in vehicle manufacturing, shifts in transport policies, and changes in consumer preferences, particularly towards green and shared mobility options.
