Forecast: Parts and Accessories for Motor Vehicles Production Value in Austria

From 2013 to 2023, the production value of parts and accessories for motor vehicles in Austria has shown a general upward trend, reaching €6.09 billion in 2023. This growth was interspersed with notable fluctuations, including a significant dip in 2020 due to the global pandemic. Year-on-year variations indicate a strong recovery post-2020, peaking at an 11.42% increase in 2022 followed by an 8.23% increase in 2023. The Compound Annual Growth Rate (CAGR) averages at 2.3% over the last five years.

Future trends to watch for include:

• Ongoing technological advancements in vehicle parts and accessories.
• Potential impacts of regulatory changes related to environmental policies.
• Continued recovery and growth post-pandemic, forecasted to achieve a 2.25% CAGR leading to €7.03 billion by 2028.
• Market shifts towards electric and hybrid vehicles influencing parts production.