Based on the provided data, the production value in the renting and leasing of motor vehicles in Norway stood at EUR 950 million in 2023. From 2024 onwards, the forecasted data shows an upward trend with values increasing approximately from EUR 961.76 million in 2024 to EUR 1040 million by 2028. The year-on-year percentage variations indicate a steady growth of around 2% per annum.
Key Observations:
- 2024: EUR 961.76 million
- 2025: EUR 982.3 million (approximately 2.13% increase from 2024)
- 2026: EUR 1000.0 million (approximately 1.80% increase from 2025)
- 2027: EUR 1020.0 million (approximately 2.00% increase from 2026)
- 2028: EUR 1040.0 million (approximately 1.96% increase from 2027)
The Compounded Annual Growth Rate (CAGR) over the years from 2024 to 2028 is approximately 2% indicating a consistent upward trend in the production value of motor vehicle rentals and leasing in Norway.
Future Trends to Watch:
- Technological advancements in vehicle connectivity and autonomous driving which could boost demand for leasing services.
- Environmental policies promoting electric vehicle adoption may significantly impact the fleet composition and leasing dynamics.
- Evolving consumer preferences towards flexible mobility solutions could further enhance the growth of this industry.
