The market size value per capita for motor vehicle wheels and parts in Argentina decreased from $24.66 in 2013 to $16.38 in 2023. Notably, the market experienced a sharp decline in 2014, and a gradual slide until 2016. Between 2017 and 2019, there were slight fluctuations, followed by a significant drop in 2020, coinciding with global disruptions. By 2023, the value stood at $16.38, marking a recovery from the pandemic-induced low. The year-on-year variation for 2022 to 2023 was negative at -1.92%, while the CAGR from 2018 to 2023 was approximately -2.20%.
Future trends to watch include the impact of economic recovery on consumption, technological advancements in vehicle manufacturing, and shifts towards electric vehicles which may influence component demand and innovation in materials.
