In 2023, Japan led global R&D expenditure in motor vehicle manufacturing, followed by China and the United States. Notable growth was observed in the United Kingdom and Italy, with annual increases of over 5%. Smaller economies like Spain, Hungary, and Estonia displayed rapid growth rates, albeit from low bases. Conversely, Israel and Norway witnessed slight decreases. From 2019 to 2023, the average annual growth rate reveals dynamic changes, favouring emerging European markets and maintaining Asian dominance.
Future trends to watch include increasing investments in electric and autonomous vehicle technologies, particularly in advanced economies like Japan and the U.S., as well as growing European contributions driven by sustainable innovations.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Motor Vehicles, Trailers and Semi-Trailers Share by Country (Million US Dollars PPP)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Japan | 31.28 | 2023 | +3.06% | +3.41% | View data |
| 2 | 2 China | 27.92 | 2023 | +4.97% | +3.91% | View data |
| 3 | 3 United States | 21.25 | 2023 | +3.35% | +2.26% | View data |
| 4 | 4 South Korea | 8.11 | 2023 | +2.97% | +2.04% | View data |
| 5 | 5 United Kingdom | 4.28 | 2023 | +4.26% | +5.2% | View data |
| 6 | 6 Italy | 2.33 | 2023 | +3.63% | +5.57% | View data |
| 7 | 7 Spain | 1.3 | 2023 | +12.28% | +16.29% | View data |
| 8 | 8 Czech Republic | 0.97 | 2023 | +14.03% | +4.96% | View data |
| 9 | 9 Hungary | 0.72 | 2023 | +11.65% | +13.79% | View data |
| 10 | 10 Romania | 0.55 | 2023 | +9.49% | +11.71% | View data |
