The Repair of Motor Vehicles and Motorcycles sector in Italy has shown significant fluctuations over the past decade. From 2013 to 2020, the sector experienced both growth and contractions, with a notable peak in 2020. However, from 2021 onwards, the trend has sharply declined. The year-on-year variation over the last two years indicated a consistent decrease: -4.93% in 2021, -4.3% in 2022, and -4.45% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years was a negative -2.19%, signifying a downward trajectory. In 2023, the sector's value stood at €267.18 billion.
Looking ahead, the forecast indicates a continued decline, with the sector's value expected to decrease to €206.76 billion by 2028. The forecasted 5-year CAGR is -4.1%, with an anticipated overall decline of -18.87% by 2028.
Future trends to watch for include technological advancements in vehicle repair, increased adoption of electric vehicles which might reduce repair frequency and complexity, and potential economic factors which could impact consumer spending on vehicle maintenance.
