From 2013 to 2023, South Korea's motor vehicle wheels and parts market size per capita showed notable growth, reaching $14.19 USD by 2023. The Compound Annual Growth Rate (CAGR) over the last five years (2019-2023) was strong, reflecting consistent upward momentum, mainly due to a robust automotive industry.
Year-on-year variations marked a steady incline, with particularly significant increases observed from 2021 to 2023. The upward trend suggests increased consumer demand, technological advancements, and a bolstering economy driving market growth.
Future trends to consider include advancements in electric vehicle components, sustainability impacts, and the evolving global supply chain's influence on pricing and availability. Monitoring these factors will be essential for anticipating market dynamics.
| # | 31 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 100.79 | 2023 | View data | ||
| 2 | 2 Finland | 96.33 | 2023 | View data | ||
| 3 | 3 Norway | 87.23 | 2023 | View data | ||
| 4 | 4 Belgium | 85.98 | 2023 | View data | ||
| 5 | 5 Austria | 72.6 | 2023 | View data | ||
| 15 | 15 New Zealand | 25.61 | 2023 | View data | ||
| 16 | 16 Poland | 15.34 | 2023 | View data | ||
| 17 | 17 South Korea | 14.19 | 2023 | |||
| 18 | 18 Barbados | 7.89 | 2023 | View data | ||
| 19 | 19 Malaysia | 7.25 | 2023 | View data | ||
