The Motor Vehicles, Trailers, and Semi-Trailers turnover in Denmark has shown varied trends from 2013 to 2028. The actual turnover saw steady growth from 868.8 million Euros in 2013 to 1090.0 million Euros in 2018. However, it saw a dip to 954.4 million Euros in 2019 and a significant drop to 789.0 million Euros in 2020. It recovered slightly from 2021 at 861.3 million Euros to 923.7 million Euros in 2023. For the forecasted period from 2024 to 2028, the turnover is expected to gradually decline from 914.2 million Euros to 877.1 million Euros by 2028.
Year-on-year variations indicate significant fluctuations, with notable declines in 2019 and 2020, followed by a modest recovery in the subsequent years. Specifically, from 2021 to 2023, the market shows an average annual decrease of approximately 0.83%. The forecasted compound annual growth rate (CAGR) for the next five years is negative, indicating a declining trend in the long term.
Future trends to watch for include potential impacts of economic conditions, advancements in automotive technology, shifts in consumer preferences towards electric vehicles, and regulatory changes related to environmental standards. It is crucial to monitor these factors for their potential influence on the market dynamics in Denmark.
