In 2023, the ownership of road motor vehicles in Belgium stood at 662.22 units per thousand persons. Based on the forecasted data, the ownership rate is expected to increase gradually from 662.24 in 2024 to 662.35 in 2028. The year-on-year percentage variations are very marginal, indicating a stable trend with minimal growth over the upcoming years. From 2023 to 2028, the Compound Annual Growth Rate (CAGR) reflects an average growth rate of approximately 0.0078% per year.
Future trends to watch for:
- The impact of electric and autonomous vehicles on overall ownership rates.
- Government policies on vehicle emissions and their influence on vehicle usage.
- Changes in urban mobility patterns and public transportation availability.
- Technological advancements and their adoption rate among consumers.
