The Brake System Parts (Except Motor Vehicle Linings) market in Belgium has demonstrated significant fluctuations over the past decade. The market value reached a peak in 2013 at $1.2946 billion followed by a dip in subsequent years, bottoming out in 2017 at $1.0738 billion. It rebounded somewhat between 2018 and 2022, closing at $1.1556 billion in 2022. The market value in 2023 is not provided, but the yearly variations indicate a market undergoing phases of contraction and recovery.
The year-on-year percentage changes reveal considerable volatility, particularly with decreases in 2014, 2015, 2016, and 2017 followed by a modest rebound in 2018 and 2019. The most recent years reflect this continuing variability with a sharp drop in 2021 followed by a recovery in 2022. The five-year CAGR as of 2022 stands at 1.48%, suggesting mild but positive average annual growth from 2017 to 2022.
Future trends to watch for include the impacts of technological advancements in braking systems, increasing automotive safety regulations, and potential economic influences on the manufacturing and automotive sector supply chains. Market resilience and adaptability to these factors will be critical in shaping the trajectory of the Brake System Parts market in Belgium.
How does Belgium rank in Brake System Parts (Except Motor Vehicle Linings) Market Size Value?
| # | 45 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 22,976,000,000 | 2023 | +4.79% | +4% | View data |
| 2 | 2 Japan | 7,095,400,000 | 2023 | -1.42% | -1.92% | View data |
| 3 | 3 United Kingdom | 5,853,800,000 | 2023 | +0.35% | -1.02% | View data |
| 4 | 4 Italy | 5,843,800,000 | 2023 | +0.34% | -0.96% | View data |
| 5 | 5 France | 5,783,300,000 | 2023 | -1.43% | -3.01% | View data |
| 9 | 9 South Korea | 1,197,100,000 | 2023 | +4.73% | +0.55% | View data |
| 10 | 10 Australia | 1,125,900,000 | 2023 | +0.32% | +0.33% | View data |
| 11 | 11 Belgium | 1,108,700,000 | 2023 | -1.87% | -0.58% | |
| 12 | 12 South Africa | 940,830,000 | 2023 | +1.86% | +2.05% | View data |
| 13 | 13 Austria | 616,650,000 | 2023 | +2.1% | -1.55% | View data |
