From 2013 to 2023, the value per capita of the motor vehicle wheels and parts market in South Africa declined steadily from $4.6 to $2.8, indicating a substantial reduction over the period. The market experienced annual declines, with only slight recoveries in 2021 and 2022. The compound annual growth rate over the last five years shows a continued downward trend. In 2023, the value stood at $2.8 per capita.
Future trends to watch for:
- Potential recovery driven by technological advancements and increased vehicle production.
- Fluctuations due to changing consumer preferences and economic conditions.
- Impact of environmental regulations promoting sustainable practices.
- Growth opportunities in electric vehicle components and aftermarket services.
| # | 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 | ||
| 26 | 26 Paraguay | 3.27 | 2023 | View data | ||
| 27 | 27 Peru | 2.93 | 2023 | View data | ||
| 28 | 28 South Africa | 2.8 | 2023 | |||
| 29 | 29 Montenegro | 2.41 | 2023 | View data | ||
| 30 | 30 El Salvador | 2.12 | 2023 | View data | ||
