The motor vehicle transmissions market size per capita in Belgium saw fluctuating trends from 2013 to 2023, with the highest value of $209.1 in 2014 and a general decline thereafter. By 2023, the market size per capita stood at $136.67. Notably, there was a decrease from 2021 to 2022 by approximately 2.9%, and a slight decrease from 2022 to 2023 by 2.2%. The five-year compound annual growth rate (CAGR) from 2018 to 2023 shows an average annual decrease of 1.46%.
Future trends to watch for include the increasing impact of electric vehicle (EV) adoption, which may alter demand dynamics for traditional transmissions, potentially leading to further innovation and adaptation within the industry.
