In 2023, the motor vehicle wheels market in Barbados stood at $7.89 per capita, representing a marginal increase from 2022. A year-on-year analysis over 2022-2023 showed a slight growth of 0.25%, while over 2021-2022 the growth was 0.38%. Over the last five years, the compound annual growth rate was approximately -0.56%, indicating a slight decline. From 2013 to 2023, the market demonstrated some fluctuations, peaking in 2019 before experiencing a decline in 2020 due to the pandemic's impact, and gradually recovering thereafter.
Future trends to watch for include:
- Potential shifts towards environmentally sustainable wheel components as regulations tighten.
- Impact of global supply chain challenges on the availability and cost of wheel parts.
- Increased adoption of electric vehicles, influencing demand for specialized wheel components.
| # | 31 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 100.79 | 2023 | View data | ||
| 2 | 2 Finland | 96.33 | 2023 | View data | ||
| 3 | 3 Norway | 87.23 | 2023 | View data | ||
| 4 | 4 Belgium | 85.98 | 2023 | View data | ||
| 5 | 5 Austria | 72.6 | 2023 | View data | ||
| 16 | 16 Poland | 15.34 | 2023 | View data | ||
| 17 | 17 South Korea | 14.19 | 2023 | View data | ||
| 18 | 18 Barbados | 7.89 | 2023 | |||
| 19 | 19 Malaysia | 7.25 | 2023 | View data | ||
| 20 | 20 Ecuador | 6.95 | 2023 | View data | ||
