In 2023, Business Enterprise R&D Expenditure in the Manufacture of Motor Vehicles, Trailers, and Semi-Trailers in the US was recorded at 28.62 billion USD PPP. The forecasts for the next five years indicate a consistent increase, reaching 33.1 billion USD by 2028. The projected year-on-year growth rates are approximately 3.1% for both 2024 and 2025, and stabilize around 2.9% for subsequent years. The Compound Annual Growth Rate (CAGR) for the forecasted period is approximately 2.9%.
Future trends to watch:
- Continued emphasis on electric and autonomous vehicle technologies may drive R&D expenditure growth.
- Regulatory changes regarding emissions and safety could impact innovation priorities.
- Collaborations with tech firms may reshape traditional R&D strategies.
