The market size volume for passenger vehicles with spark-ignition engines of a cylinder capacity less than 1,500 cm³ in Belgium stood at 276,570 units in 2023. Over the past decade, the market has experienced significant fluctuations, with notable growth between 2013 and 2018, followed by a contraction in 2019 and 2020. The market began recovering in 2021 and continued to grow modestly through 2023, exhibiting year-on-year changes of 10.4% and 8.49% in the last two years, with a five-year CAGR of 0.9%.
Future trends to watch for include:
- Potential shifts towards electric or hybrid vehicles due to environmental regulations and consumer preferences.
- Technological advancements that could increase efficiency and change market dynamics.
- Economic factors affecting disposable income and consumer spending.
