Forecast: Production in Maintenance and Repair of Motor Vehicles Sector in Denmark

In 2023, the Maintenance and Repair of Motor Vehicles sector in Denmark stood at 8.69 billion Danish Krones. Over the past two years, the sector saw a year-on-year decline of -4.72% in 2023 and -4.55% in 2022. The Compound Annual Growth Rate (CAGR) over the last five years has averaged -2.41%, indicating a lingering downward trend. This decline is part of a longer-term trend observed since 2013, marked by fluctuations and an overall decrease.

Forecasts indicate a continued decline in the sector, with the value dropping to 6.6 billion Danish Krones by 2028. The projected 5-year CAGR is -4.39%, representing a forecasted overall contraction of -20.12% from 2024 to 2028.

Future trends to watch for include:

• Technological advancements in vehicle maintenance and repair processes.
• Increased adoption of electric and hybrid vehicles, influencing the types of repairs needed.
• Economic factors affecting consumer spending on vehicle maintenance.
• Regulatory changes impacting the sector.