The turnover for Motor Vehicles, Trailers, and Semi-Trailers in Belgium is forecasted to decrease from €13.42 billion in 2024 to €12.52 billion in 2028. This represents a decline of 6.7% over this period. Starting at €14.00 billion in 2023, the year-on-year variations show consistent decreases: -1.7% in 2024, -1.7% in 2025, -1.8% in 2026, -1.7% in 2027, and -1.7% in 2028. The Compound Annual Growth Rate (CAGR) over the five-year forecast period reveals a downward trend at an average annual rate of -2.2%.
Future trends to watch for:
- The increasing emphasis on electric vehicles and sustainability regulations may further impact the traditional vehicle market.
- The development of new technologies and automation could change the dynamics of the industry and influence turnover.
- Economic fluctuations and shifts in consumer behavior could either mitigate or exacerbate the downward trend.