Forecast: Share of Passenger Cars in Total Road Motor Vehicles in Belgium

Based on historical data, the share of passenger cars in total road motor vehicles in Belgium has been on a steady decline over the past decade, from 78.55% in 2013 to 75.9% in 2023. This represents a reduction in the share of passenger cars by 0.5% year-on-year from 2022 to 2023. Historical data reveals an average annual decline of 0.38% over the past five years, depicting a consistent downward trend.

Looking ahead, the forecasted share of passenger cars continues to decrease, reaching 74.11% by 2028. The forecasted 5-year compound annual growth rate (CAGR) shows a 0.38% decline per year, which translates to a 1.89% overall reduction by 2028.

Future trends to watch for include advancements in shared mobility, the increasing popularity of electric vehicles, and potential regulatory changes aimed at reducing emissions, all of which may significantly impact the share of passenger cars in total road motor vehicles in Belgium.