The Motor Vehicle Wheels (Including Parts) market per capita in Montenegro in 2023 stood at $2.41. Analyzing trends, the market experienced fluctuations over the past decade. Between 2022 and 2023, there was a slight decrease of 0.82%. However, the compound annual growth rate (CAGR) for the last five years (2018-2023) was positive at approximately 4.90%, indicating moderate growth sustained despite periodic downturns.
Future trends to watch for include:
- Technological advancements in vehicle manufacturing.
- Shifts towards electric and hybrid vehicles potentially affecting component demand.
- Economic factors shaping consumer vehicle acquisition in Montenegro.
| # | 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 | ||
| 27 | 27 Peru | 2.93 | 2023 | View data | ||
| 28 | 28 South Africa | 2.8 | 2023 | View data | ||
| 29 | 29 Montenegro | 2.41 | 2023 | |||
| 30 | 30 El Salvador | 2.12 | 2023 | View data | ||
| 31 | 31 India | 0.76 | 2023 | View data | ||
