The turnover of electrical and electronic equipment for motor vehicles in Austria experienced significant growth from 2013 to 2023, reaching 2.09 billion Euros by 2023. The period saw notable year-on-year variations, with the highest annual growth of 17.69% in 2021 following a sharp decline of 16.43% in 2020. From 2020 to 2023, a steady recovery and growth trend were observed, culminating in an 8.65% year-on-year increase in 2023. The CAGR over the last five years averaged at 3.44%.
Looking ahead, the forecasted CAGR for the next five years is 3.33%, with an overall growth rate of 17.82% predicted by 2028, suggesting a continued moderate yet steady expansion in the sector.
Future trends to watch for:
- Technological advancements in electric and autonomous vehicles
- Shifts in consumer preferences towards greener and smarter vehicle solutions
- Impacts of regulatory changes and environmental policies
- Potential supply chain disruptions and their effects on production
