The Motor Vehicle Wheels (And Including Parts) market size in Norway demonstrated a generally fluctuating trend from 2012 to 2022. The market value decreased by 1.94% in 2012, followed by a small increase in 2013 (6.81%) and 2014 (5.68%). However, 2015 saw a significant decrease of 12.77%, before it increased by 8.01% in 2016 and made a substantial gain of 26.88% in 2017. The following years fluctuated, with a notable decrease of 7.27% in 2018 and 4.55% in 2019. The market value remained relatively stable in 2020 with a slight increase of 0.38%, followed by a minor decrease of 2.85% in 2021, and finally, a 6.49% increase in 2022. The Compound Annual Growth Rate (CAGR) over the last five years equates to -1.67%.
Future trends to watch for include advancements in automotive technology, an increasing shift towards electric vehicles, and new environmental regulations. Additionally, trade policies and the overall economic condition in Norway will significantly impact market dynamics in the coming years.
How does Norway rank in Motor Vehicle Wheels (And Including Parts) Market Size Value?
| # | 36 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 39,551,000,000 | 2023 | +2.38% | +2.35% | View data |
| 2 | 2 China | 19,307,000,000 | 2023 | +3.7% | +3.76% | View data |
| 3 | 3 Germany | 8,397,200,000 | 2023 | +1.11% | +1.25% | View data |
| 4 | 4 Japan | 7,915,500,000 | 2023 | -0.11% | -1.47% | View data |
| 5 | 5 United Kingdom | 3,316,600,000 | 2023 | +0.57% | +0.48% | View data |
| 18 | 18 Poland | 581,770,000 | 2023 | -1.34% | -1.9% | View data |
| 19 | 19 Finland | 524,750,000 | 2023 | +6.79% | +1.2% | View data |
| 20 | 20 Norway | 500,270,000 | 2023 | +2.27% | +1.65% | |
| 21 | 21 Switzerland | 482,540,000 | 2023 | +1.39% | +1.31% | View data |
| 22 | 22 Colombia | 279,380,000 | 2023 | +1.4% | +0.56% | View data |
