The Belgian sector for the repair of motor vehicles and motorcycles has seen significant fluctuations over the past decade, with a remarkable rise in production value from 2013 to 2023. While occasional dips, such as the -10.47% slump in 2020, reflect external shocks like the global pandemic, the overall trend shows an impressive recovery and sustained growth. Notably, the sector reached 239.05 Billion Euros in 2023. The year-on-year growth in 2022 was 19.93% and in 2023 was 16.15%. Over the past five years, the compound annual growth rate (CAGR) stood at an impressive 14.42%. Future projections indicate a continuing upward trajectory, with a 5-year CAGR forecast of 7.21% and a 41.62% overall growth by 2028.
Looking ahead, it is crucial to watch for advancements in automotive technology, shifts towards electric vehicles, and regulatory changes that may significantly impact the demand for repair services. Additionally, the integration of digital technologies in repair services and the evolution of the sharing economy could further shape the sector's growth trajectory in Belgium.
