The Renting and Leasing of Motor Vehicles sector in Belgium experienced fluctuating employment growth over the past decade, with notable increases in 2015 and 2019. In 2023, the sector employed 2.98 thousand Full-Time Equivalents (FTEs), showing moderate growth of 1.78% year-on-year. The last five years demonstrated a Compound Annual Growth Rate (CAGR) of 3.48%. Forecasts suggest a steady growth trajectory, expecting employment to reach 3.23 thousand FTEs by 2028, equating to a five-year CAGR of 1.29% and a total forecasted growth rate of 6.6%.
Future trends to watch for include:
- Technological advancements in vehicle rental and leasing services.
- Increased demand for electric and eco-friendly vehicles.
- Potential impacts of economic fluctuations and regulatory changes.
- Market consolidation and partnerships within the industry.
