The Motor Vehicles Parts and Accessories Market in Lithuania reached a value of 910.27 million USD in 2023. From 2013 to 2023, the market exhibited growth with fluctuations, highlighted by notable growth spurts and some contraction years. In particular, recent trends from 2021 to 2023 show a steady growth, with year-on-year increases of 9.86%, 4.64%, and 4.39% respectively. The market's Compound Annual Growth Rate (CAGR) over the last five years registers at 3.4%, indicating moderate growth momentum in this period.
Future trends to watch for:
- Increased adoption of electric vehicle components, which may drive demand for specific parts and accessories.
- Supply chain adjustments in response to geopolitical tensions affecting sourcing and distribution.
- Technological innovation leading to more advanced and integrated parts and accessories.
| # | 45 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 235,410,000,000 | 2023 | +4.39% | +0.72% | View data |
| 2 | 2 Germany | 156,470,000,000 | 2023 | +1.79% | +1.62% | View data |
| 3 | 3 Japan | 115,890,000,000 | 2023 | -1.84% | -2.75% | View data |
| 4 | 4 France | 74,756,000,000 | 2023 | +0.83% | -0.36% | View data |
| 5 | 5 United Kingdom | 66,161,000,000 | 2023 | +0.35% | -0.9% | View data |
| 25 | 25 New Zealand | 1,589,200,000 | 2023 | +1.6% | +1.2% | View data |
| 26 | 26 Ecuador | 1,301,400,000 | 2023 | +1.1% | +1.24% | View data |
| 27 | 27 Lithuania | 910,270,000 | 2023 | +4.39% | +3.4% | |
| 28 | 28 Guatemala | 757,150,000 | 2023 | +3.04% | +2.74% | View data |
| 29 | 29 Kenya | 666,230,000 | 2023 | +5.16% | +6.32% | View data |
