Forecast: Motor Vehicles Parts and Accessories Market Size Value in Belgium

Between 2013 and 2023, the motor vehicles parts and accessories market in Belgium experienced significant fluctuations. The market saw a sharp decline from 2013 to 2015, with a substantial drop in 2015 by 25.52%. Since 2016, the market moderately rebounded, showing steady year-on-year growth with occasional small declines. By 2023, the market size stood at $15.933 billion, marking a 1.5% increase from the previous year and a CAGR of 3.63% over the last five years.

From 2024 onwards, the forecast indicates a continuous, albeit modest growth, reaching $17.073 billion by 2028, reflecting a forecast 5-year CAGR of 1.1% and a total growth of 5.61%.

Future trends to watch in the motor vehicles parts and accessories market include:

• Technological advancements in automotive parts
• Rise in electric and hybrid vehicle components
• Growth in aftermarket services
• Potential impacts of regulatory changes and sustainability efforts