The market size value per capita for motor vehicle wheels and parts in India stood at $0.76 USD in 2023. Over the past year, it experienced a year-on-year increase of approximately 2.70%. Comparing variations over the previous two years, the market had notable growth with a 7.25% increase since 2021. Over the last five years, this sector showcased a compound annual growth rate (CAGR) of roughly 2.01%, indicating a moderate yet steady upward trend in per capita value.
Looking ahead, key trends to watch include increased demand driven by urbanization and consumer preference for advanced vehicular technologies. Additionally, the growth of electric vehicles and after-sales services may further impact market dynamics.
| # | 31 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 100.79 | 2023 | View data | ||
| 2 | 2 Finland | 96.33 | 2023 | View data | ||
| 3 | 3 Norway | 87.23 | 2023 | View data | ||
| 4 | 4 Belgium | 85.98 | 2023 | View data | ||
| 5 | 5 Austria | 72.6 | 2023 | View data | ||
| 29 | 29 Montenegro | 2.41 | 2023 | View data | ||
| 30 | 30 El Salvador | 2.12 | 2023 | View data | ||
| 31 | 31 India | 0.76 | 2023 | |||
