The motor vehicle bumpers and parts market in Rwanda displayed a fluctuating trend from 2013 to 2023. The value per capita in 2023 was $0.068, marking a recovery from a dip in 2020. The year-on-year growth from 2022 to 2023 was 1.49%, while the previous year saw a growth rate of 4.69%. Over a 5-year period, the compound annual growth rate (CAGR) stood at 0.63%, indicating moderate growth.
Future trends to watch for include:
- Increased demand for modern vehicle parts potentially influenced by a younger urban population.
- Potential fluctuations in value due to global supply chain challenges and local economic impacts.
- Growth in green or electric vehicle segments which may shift demand in vehicle parts.