The automotive output in Austria, expressed in value, stood at 23.99 Billion Euros in 2023. Over the past decade, the sector has seen significant fluctuations. Following steady growth from 2013 to 2019, the industry experienced a sharp decline in 2020 due to global disruptions but rebounded in 2021. Despite a modest growth rate of 3.42% in 2023, the overall growth trajectory over the past five years remains positive with a CAGR of 1.14%.
Looking ahead to the forecasted period until 2028, the automotive output is expected to grow at a moderate average annual growth rate (CAGR) of 2.37%, reaching a total growth rate of 12.4% over the five-year period. This forecast suggests a stable but cautious optimism for the sector.
Future trends to watch for:
- Advancements in electric and autonomous vehicle technologies tend to shape the automotive landscape.
- Supply chain resilience and sustainability will be critical factors post-pandemic.
- Regulatory shifts and environmental policies will continue to influence market dynamics.
- Investment in digital transformation and innovation will become increasingly crucial for maintaining competitive advantage.
