The market for motor vehicle steering wheels, columns, and boxes in Poland reached a value of $37.95 per capita in 2023. From 2013 to 2023, the market experienced fluctuations with a significant dip in 2020 due to the global pandemic, but it showed resilience with a revival to near pre-pandemic levels by 2023.
Year-on-year, the market grew a modest 0.32% from 2022 to 2023, after a strong post-pandemic recovery of 14.80% from 2020 to 2021. The Compound Annual Growth Rate (CAGR) over the last five years (2018-2023) remained relatively steady at nearly 0.31%.
Future trends to watch for include:
- Potential growth driven by the automotive industry's shift towards technological innovations such as advanced driver-assistance systems (ADAS) and autonomous vehicles.
- Increased interest in electric vehicles that could lead to renewed demand and modifications in steering components.
- Possible economic or geopolitical factors impacting the automotive supply chain and thus affecting market stability and growth.