The analysis of high-growth enterprises in the motor vehicles maintenance and repair sector in Europe for 2023 reveals significant variations across countries. Hungary leads with 346 enterprises, experiencing a notable year-on-year growth of 29.23%. Italy follows with 261 enterprises, growing by 7.96%. Romania and Lithuania show moderate growth with 144 and 142 enterprises, growing by 9.37% and 6.02%, respectively. Meanwhile, the Czech Republic and Portugal report restrained growth with minor increases. Slovakia and Norway exhibit contrasting trends, with 10.91% growth in Slovakia and a slight decline in Norway. Latvia encountered a sharp decrease of 37.52%.
Future trends to watch:
- Continued expansion in Hungary, driven by dynamic market conditions.
- Potential stabilization in Italy with consistent but slower growth.
- Romania and Lithuania may leverage emerging automotive technologies to sustain growth.
- Low performance in Latvia suggests potential market restructuring.
Top countries in Number of High Growth Enterprises in Motor Vehicles Maintenance and Repair by Country
| # | 9 Countries | Units (Enterprises) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Hungary | 346 | 2023 | +25.36% | +29.23% | View data |
| 2 | 2 Italy | 261 | 2023 | +19.18% | +7.96% | View data |
| 3 | 3 Romania | 144 | 2023 | +23.08% | +9.37% | View data |
| 4 | 4 Lithuania | 142 | 2023 | +17.36% | +6.02% | View data |
| 5 | 5 Czech Republic | 138 | 2023 | +14.05% | +1.2% | View data |
| 6 | 6 Portugal | 112 | 2023 | +20.43% | +4.47% | View data |
| 7 | 7 Slovakia | 47 | 2023 | +17.5% | +10.91% | View data |
| 8 | 8 Norway | 25 | 2023 | +8.7% | -1.53% | View data |
| 9 | 9 Latvia | 2 | 2023 | -75% | -37.52% | View data |
