Between 2013 and 2023, Colombia's Motor Vehicle Wheels and Parts market experienced fluctuations, starting at $4.67 and reaching $5.45 per capita. After a drop in 2020 to $4.4 due to the pandemic, recovery began in 2021 with a 14.8% increase. The value stood at $5.45 per capita in 2023. Between 2018 and 2023, the compound annual growth rate (CAGR) was 0.35%, indicating a modest growth.
Future trends to watch include technological advancements in motor vehicle parts and a potential increase in demand driven by modernization initiatives in Colombia's transport sector, possibly enhancing market growth. Additionally, external economic factors and domestic policy changes could impact market dynamics.
| # | 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 | ||
| 19 | 19 Malaysia | 7.25 | 2023 | View data | ||
| 20 | 20 Ecuador | 6.95 | 2023 | View data | ||
| 21 | 21 Colombia | 5.45 | 2023 | |||
| 22 | 22 Mauritius | 4.55 | 2023 | View data | ||
| 23 | 23 Malta | 3.99 | 2023 | View data | ||
