The production value of motor vehicles, trailers, and semi-trailers in Belgium has shown a declining trend from 2013 to 2023, decreasing from €17.39 billion to €12.53 billion. This reflects a year-on-year decline of 1.83% in the last recorded year of 2023. Over the past five years, the compound annual growth rate (CAGR) indicates an annual average decline of 1.04%.

Forecasts from 2024 onwards predict a continued downward trajectory, with the value expected to drop to €11.4 billion by 2028. This suggests a projected CAGR of -1.51% over the next five years, equating to an overall decline of 7.31% from 2024 to 2028.

Future trends to watch for:

Technological advancements in the automotive sector and their impact on production efficiency
Shifts in consumer demand towards electric vehicles and how it affects traditional vehicle production
Regulatory changes related to emission standards and environmental concerns
Global economic conditions and their influence on the Belgian automotive industry
Supply chain disruptions and their long-term effects on production capacities