From 2013 to 2023, New Zealand's motor vehicles steering wheels, columns, and boxes market showed an overall growth in per capita value, reaching $6.12 in 2023. The market peaked in 2018, dipped during 2020 likely due to the COVID-19 pandemic, but rebounded robustly in subsequent years. Over the last two years, the per capita value increased by 2.2% and 6.5% year-on-year respectively. The CAGR for the last five years was 3.8%, indicating steady growth despite short-term fluctuations.
Future trends to watch for include:
- The potential impact of increasing electric vehicle adoption on steering system demand.
- Technological advancements in steering systems, such as autonomous vehicle steering solutions.
- Economic factors that could influence consumer purchasing behavior in the automotive sector.
| # | 28 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Sweden | 70.35 | 2023 | View data | ||
| 2 | 2 Spain | 68.51 | 2023 | View data | ||
| 3 | 3 United Kingdom | 54.15 | 2023 | View data | ||
| 4 | 4 Italy | 42.56 | 2023 | View data | ||
| 5 | 5 Japan | 42.03 | 2023 | View data | ||
| 12 | 12 Lithuania | 6.92 | 2023 | View data | ||
| 13 | 13 Latvia | 6.32 | 2023 | View data | ||
| 14 | 14 New Zealand | 6.12 | 2023 | |||
| 15 | 15 Barbados | 5.58 | 2023 | View data | ||
| 16 | 16 Belarus | 5.1 | 2023 | View data | ||
