The motor vehicle bumpers and bumper parts market in Vietnam displayed a fluctuating growth pattern from 2013 to 2023. In 2023, the market value per capita stood at $0.71. Between 2019 and 2023, there was a consistent decline, with a 17.44% decrease from 2019 to 2020, followed by a continued downturn through 2023. The compound annual growth rate (CAGR) from 2018 to 2023 was negative, illustrating a contraction in the market over this five-year period.
Future trends to watch for include:
- Potential recovery influenced by increasing vehicle production and sales.
- Technological advancements in materials and manufacturing processes.
- Government regulations and initiatives focusing on vehicle safety standards.
- Impact of economic conditions and consumer spending power on the automotive industry.
| # | 34 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Canada | 50.6 | 2023 | View data | ||
| 2 | 2 Austria | 35.45 | 2023 | View data | ||
| 3 | 3 Australia | 32.71 | 2023 | View data | ||
| 4 | 4 Germany | 32.38 | 2023 | View data | ||
| 5 | 5 Norway | 29.95 | 2023 | View data | ||
| 31 | 31 Botswana | 1.07 | 2023 | View data | ||
| 32 | 32 Honduras | 1.02 | 2023 | View data | ||
| 33 | 33 Vietnam | 0.71 | 2023 | |||
| 34 | 34 Kenya | 0.22 | 2023 | View data | ||
