The production value of electrical and electronic equipment for motor vehicles in Belgium has experienced significant fluctuations over the past decade. In 2013, it was at 261.2 million euros, dropping steadily to 68.3 million euros by 2015 before rebounding to 243.8 million euros in 2017. However, there's been a declining trend since 2018, reaching 183.5 million euros in 2023, which is approximately a -0.49% year-on-year variation for both 2022 and 2023. The CAGR from 2018 to 2023 averaged -2.4% annually.
Noteworthy future trends based on forecasts include a continuous slight decline, with an average annual decrease of about -0.39% from 2024 to 2028, culminating in an estimated production value of 179.1 million euros by 2028. This reflects a forecasted 5-year growth rate of -1.92%.
Future trends to watch for include:
- Technological advancements in motor vehicle electronics, potentially revitalizing demand.
- Policy changes impacting automobile manufacturing and imports.
- Shifts in consumer preferences towards electric and hybrid vehicles.
- Economic conditions influencing the automotive industry globally and locally.
