In 2023, Hungary and Italy led with 31 enterprises each in young high-growth motor vehicle maintenance and repair firms. Lithuania, Romania, Portugal, and Czech Republic followed. Notably, Slovakia saw a significant 31.95% increase, while Latvia faced a steep decline with a 100% drop. Year-on-year growth was highest in Hungary (44.04%) and lowest in Czech Republic (3.71%). Latvia’s absence highlights shifting dynamics and possible exits in the market.
Future trends to watch include digital transformation in vehicle maintenance and repair, potential regulatory impacts, and technological innovations driving enterprise growth across Europe. Close monitoring of these elements can reveal emerging market opportunities.
Top countries in Number of Young High Growth Enterprises (Gazelles) in Motor Vehicles Maintenance and Repair by Country
| # | 8 Countries | Units (Enterprises) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Hungary | 31 | 2023 | +24% | +44.04% | View data |
| 2 | 2 Italy | 31 | 2023 | +29.17% | +23.03% | View data |
| 3 | 3 Lithuania | 16 | 2023 | +23.08% | +12.2% | View data |
| 4 | 4 Romania | 10 | 2023 | +25% | +7.39% | View data |
| 5 | 5 Portugal | 9 | 2023 | +12.5% | +5.15% | View data |
| 6 | 6 Czech Republic | 6 | 2023 | 0% | +3.71% | View data |
| 7 | 7 Slovakia | 4 | 2023 | +33.33% | +31.95% | View data |
| 8 | 8 Latvia | 1 | 2023 | View data |
