Analysis of passenger car ownership in Belgium shows a peak in 2019 with 512.6 units per thousand persons, followed by a downward trend through to 2023 where it stands at 502.57 units. Notably, from 2019 to 2023, there has been a consistent negative year-on-year variation, with the sharpest decline from 2019 to 2020. Despite this, the period from 2013 to 2019 enjoyed positive growth, peaking at a CAGR of 0.80% in 2018.
The forecast from 2024 to 2028 continues this declining trend with a projected CAGR of -0.21%, indicating a gradual but steady decrease in car ownership rates and an overall forecasted decrease of 1.03% over the five years.
**Future Trends to Watch For:**- Shift towards shared mobility and public transportation- Increasing adoption of electric and autonomous vehicles- Government incentives or regulations affecting car ownership.
