The motor vehicle radiators market in Portugal has seen significant fluctuations over the past decade. Starting at $111.59 million in 2013, it observed incremental growth in value until 2015 before declining drastically in 2016 and 2017. The subsequent years saw a modest recovery until 2020, followed by consecutive declines culminating in a market size of $70.489 million in 2023. The average annual decline from 2019 to 2023 was 2.61%, highlighting a challenging period for the market with significant year-on-year declines in the last two years.
Future trends to watch for include:
- Increasing adoption of electric vehicles potentially reducing demand for traditional radiators.
- Technological advancements leading to more efficient radiator systems.
- Economic factors and regulatory changes influencing the automotive industry.
How does Portugal rank in Motor Vehicle Radiators Market Size Value?
| # | 38 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 8,674,700,000 | 2023 | +1.1% | +0.96% | View data |
| 2 | 2 Japan | 1,141,800,000 | 2023 | -0.019% | -1.15% | View data |
| 3 | 3 Spain | 1,094,800,000 | 2023 | +1.42% | +1.12% | View data |
| 4 | 4 Italy | 1,007,900,000 | 2023 | +1.63% | +1.73% | View data |
| 5 | 5 France | 936,010,000 | 2023 | -0.42% | -1.07% | View data |
| 13 | 13 Chile | 107,180,000 | 2023 | +2.08% | +2.35% | View data |
| 14 | 14 Ukraine | 79,918,000 | 2023 | +2.34% | +5.52% | View data |
| 15 | 15 Portugal | 70,489,000 | 2023 | -5.08% | -2.61% | |
| 16 | 16 Colombia | 70,052,000 | 2023 | +0.88% | +0.76% | View data |
| 17 | 17 Peru | 55,977,000 | 2023 | +1.99% | +2.32% | View data |
