The production of motor vehicle parts and accessories in Germany has shown significant variability over the past decade. In 2023, the value of sold production stood at 270.13 million items. There was a notable increase in production with a year-on-year variation of 13.84%, reflecting a recovery and growth period. The Compound Annual Growth Rate (CAGR) for the last five years is 3.08%, indicating a generally positive but fluctuating trend.
Key historical trends:
- From 2013 to 2016, there was a consistent decline in production, with the lowest value recorded in 2016.
- 2017 saw a sharp rebound with a nearly 97% increase, reflecting a significant market recovery.
- Following years showed some fluctuation, with a general downward trend until 2020.
- From 2021 onwards, there has been a steady increase in production, demonstrating a recovering market.
Future trends to watch for:
- Forecasts indicate robust growth, with production expected to rise to 405.58 million items by 2028.
- The forecasted 5-year CAGR is 6.38%, suggesting sustained growth.
- Technological advancements, shifts towards electric vehicles, and changes in global supply chains will likely influence future production trends significantly.
