The motor vehicle clutches and parts market in Colombia grew steadily from 2013 to 2014, followed by variability from 2015 to 2018. Notably, there were downturns in 2015, 2016, and 2018. In 2020, the market faced a sharp decline but recovered by 2021 and continued growing until 2023, reaching a value of $212.67 million USD.
Key insights from 2023 include:
- The market experienced a slight growth of 0.86% year-on-year.
- From 2019 to 2023, the compound annual growth rate (CAGR) was 1.33%.
As we look forward, important trends to monitor include technological advancements in electric vehicles and economic recovery post-2020 pandemic, potentially influencing future market dynamics positively over the coming years.
How does Colombia rank in Motor Vehicles Clutches and Motor Vehicle Clutches Parts Market Size Value?
| # | 56 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 14,279,000,000 | 2023 | +1.67% | +1.46% | View data |
| 2 | 2 China | 6,050,400,000 | 2023 | +2.89% | +2% | View data |
| 3 | 3 Germany | 4,636,400,000 | 2023 | +1.94% | +1.85% | View data |
| 4 | 4 Japan | 3,361,100,000 | 2023 | -1.36% | -0.94% | View data |
| 5 | 5 France | 2,358,600,000 | 2023 | +0.74% | +0.82% | View data |
| 14 | 14 Chile | 287,840,000 | 2023 | +2.78% | +2.65% | View data |
| 15 | 15 Belgium | 226,990,000 | 2023 | +0.89% | -0.81% | View data |
| 16 | 16 Colombia | 212,670,000 | 2023 | +0.86% | +1.33% | |
| 17 | 17 Netherlands | 188,130,000 | 2023 | -1.12% | -0.91% | View data |
| 18 | 18 Peru | 186,530,000 | 2023 | +2.97% | +2.02% | View data |
