In 2023, Italy led European R&D expenditure in the Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles sector, recording 42.43 million euros, with a year-on-year increase of 5.88%. Germany and Spain followed, posting 25.27 and 18.76 million euros, respectively, with growths of 2.93% and 5.75%. Significant growth was seen in Portugal, up by 15.68%, and Slovakia at 9.62%. Finland marked a 6.63% rise. Estonia was unique in experiencing a decline of 2.87%.
Future trends to watch include:
- The potential for increased investment in countries with currently smaller R&D spends, such as Slovakia and Portugal, which are experiencing rapid growth.
- The potential expansion in the digitization and technological advancements within the automotive repair sector across different countries.
- Monitoring the impact of economic conditions and policy changes on R&D expenditure trends in this sector.
Top countries in Business Enterprise R&D Expenditure in Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 42.43 | 2023 | +13.34% | +5.88% | View data |
| 2 | 2 Germany | 25.27 | 2023 | +4.38% | +2.93% | View data |
| 3 | 3 Spain | 18.76 | 2023 | +3.5% | +5.75% | View data |
| 4 | 4 Portugal | 5.65 | 2023 | +5.26% | +15.68% | View data |
| 5 | 5 Finland | 5.56 | 2023 | +2.97% | +6.63% | View data |
| 6 | 6 Slovakia | 1.22 | 2023 | +35.86% | +9.62% | View data |
| 7 | 7 Lithuania | 0.5 | 2023 | +6.17% | +4.3% | View data |
| 8 | 8 Slovenia | 0.5 | 2023 | +3.83% | +8.75% | View data |
| 9 | 9 Latvia | 0.055 | 2023 | -0.081% | +4.75% | View data |
| 10 | 10 Estonia | 0.05 | 2023 | -1.4% | -2.87% | View data |
