In 2023, the number of registered cars in Belgium stood at approximately 6.0129 million. Based on forecasted data, the number of registered cars is expected to rise annually: 6.0752 million in 2024, 6.1379 million in 2025, 6.2001 million in 2026, 6.2616 million in 2027, and 6.3225 million in 2028. The year-on-year percentage variations are as follows:
- 2024: 1.04%
- 2025: 1.03%
- 2026: 1.01%
- 2027: 0.99%
- 2028: 0.97%
Over the last two years, the average annual variation is approximately 1.044%. The compound annual growth rate (CAGR) from 2023 to 2028 is estimated at around 1.01%, indicating a stable growth trend.
Future trends to watch for:
- The impact of government policies on car ownership, especially around environmental regulations and incentives for electric vehicles.
- Market shifts towards car-sharing and alternative mobility solutions which could influence overall car registrations.
- Economic factors such as GDP growth and consumer purchasing power which can drive demand for new car registrations.
