The Motor Vehicles Parts and Accessories market in Benin experienced fluctuating trends between 2013 and 2023. The market was valued at 16.709 Million US Dollars in 2023. The earlier part of the decade saw a consistent decline, with values dropping from 13.921 Million USD in 2013 to 13.287 Million USD in 2016. However, a reversal took place post-2016, reaching its peak at 16.709 Million USD in 2023, despite a significant dip in 2020 due to external factors.
Year-on-year analysis for the last two years showed modest growth: 6.52% in 2022 and 1.16% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years was 1.62%, indicating gradual, albeit inconsistent, growth.
Future trends to watch for include technological advancements in vehicle parts leading to increased demand for sophisticated accessories, the impact of global supply chain adjustments, and local economic policies fostering market expansion.
| # | 45 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 235,410,000,000 | 2023 | +4.39% | +0.72% | View data |
| 2 | 2 Germany | 156,470,000,000 | 2023 | +1.79% | +1.62% | View data |
| 3 | 3 Japan | 115,890,000,000 | 2023 | -1.84% | -2.75% | View data |
| 4 | 4 France | 74,756,000,000 | 2023 | +0.83% | -0.36% | View data |
| 5 | 5 United Kingdom | 66,161,000,000 | 2023 | +0.35% | -0.9% | View data |
| 43 | 43 Malta | 59,940,000 | 2023 | +0.73% | -0.67% | View data |
| 44 | 44 Barbados | 41,719,000 | 2023 | +1.28% | +2.13% | View data |
| 45 | 45 Benin | 16,709,000 | 2023 | +1.16% | +1.62% | |
