The market size value per capita of motor vehicle steering wheels, columns, and boxes in Montenegro has shown diverse trends over the past decade. From 2013 to 2023, the value increased from $1.76 to $2.15. The market demonstrated fluctuations from year to year, with a notable dip in 2020, followed by recovery in 2021. The market stood at $2.15 per capita in 2023, representing a steady presence compared to 2022. Over the last two years, the year-on-year growth was 5.65%, with a five-year compound annual growth rate (CAGR) of 2.24% reflecting moderate annual growth.
Future trends to watch include increased adoption of electric vehicles, advancing steering technology, and potential regulatory changes affecting automotive components. These factors could stimulate further market growth and innovations.
| # | 28 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Sweden | 70.35 | 2023 | View data | ||
| 2 | 2 Spain | 68.51 | 2023 | View data | ||
| 3 | 3 United Kingdom | 54.15 | 2023 | View data | ||
| 4 | 4 Italy | 42.56 | 2023 | View data | ||
| 5 | 5 Japan | 42.03 | 2023 | View data | ||
| 19 | 19 Croatia | 4.07 | 2023 | View data | ||
| 20 | 20 Costa Rica | 2.64 | 2023 | View data | ||
| 21 | 21 Montenegro | 2.15 | 2023 | |||
| 22 | 22 Botswana | 1.55 | 2023 | View data | ||
| 23 | 23 Guatemala | 1.46 | 2023 | View data | ||
