In 2023, Hungary led in the number of young high-growth enterprises (gazelles) within the motor vehicle parts retail sector across the analyzed European countries, with 12 enterprises. It was followed by Italy with 8, Romania with 7, and both the Czech Republic and Lithuania with 2. Nations such as Latvia and Portugal had the lowest numbers, reflecting their relative market environments.
The year-on-year variations in 2023 indicate Hungary and Italy experienced significant growth, at 19.14% and 14.87% respectively, compared to 2022. Conversely, Lithuania and Portugal saw a decrease in their growth enterprise numbers.
- Watch closely for digital transformation capturing market share.
- Economic fluctuations may greatly influence sustainability.
- Policy changes in sustainability and automotive regulations could impact growth.
- Expansion into electric vehicle markets may spur varied country-specific opportunities for new high-growth enterprises.
Top countries in Number of Young High Growth Enterprises (Gazelles) in Motor Vehicle Parts Retail by Country
| # | 7 Countries | Units (Enterprises) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Hungary | 12 | 2023 | +20% | +19.14% | View data |
| 2 | 2 Italy | 8 | 2023 | +14.29% | +14.87% | View data |
| 3 | 3 Romania | 7 | 2023 | +16.67% | +3.13% | View data |
| 4 | 4 Czech Republic | 2 | 2023 | 0% | 0% | View data |
| 5 | 5 Lithuania | 2 | 2023 | 0% | -12.94% | View data |
| 6 | 6 Latvia | 1 | 2023 | 0% | 0% | View data |
| 7 | 7 Portugal | 1 | 2023 | 0% | -7.79% | View data |
