In 2023, Italy led the European region for high growth enterprises in the parts and accessories for motor vehicles sector, with a count of 146 enterprises and a 3.15% increase from the previous year. Portugal followed with a positive increase of 3.41% to 55 enterprises. Norway experienced a significant growth rate of 10.76%, albeit from a lower base of 5 enterprises. In contrast, Lithuania saw a substantial decline. The Czech Republic had a notable decrease of 7.32%. Over the last five years, average growth rates varied significantly, reflecting the diverse economic climates and industrial capabilities between countries.
Looking into the future, the key trends to monitor include the increasing emphasis on sustainable and electric vehicle components, which are likely to drive growth and investment in this sector. Additionally, regional developments in technology and manufacturing efficiency will impact the landscape of high growth enterprises in the European region. Monitoring regulatory changes and market demand in the European Union will be crucial for predicting future growth trends in this industry.
Top countries in Number of High Growth Enterprises in Parts and Accessories for Motor Vehicles by Country
| # | 9 Countries | Units (Enterprises) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 146 | 2023 | +11.45% | +3.15% | View data |
| 2 | 2 Czech Republic | 67 | 2023 | -1.47% | -7.32% | View data |
| 3 | 3 Portugal | 55 | 2023 | +19.57% | +3.41% | View data |
| 4 | 4 Hungary | 50 | 2023 | +11.11% | -2.24% | View data |
| 5 | 5 Slovakia | 35 | 2023 | +9.38% | -0.56% | View data |
| 6 | 6 Romania | 28 | 2023 | +16.67% | -4.9% | View data |
| 7 | 7 Norway | 5 | 2023 | 0% | +10.76% | View data |
| 8 | 8 Latvia | 2 | 2023 | 0% | -12.94% | View data |
| 9 | 9 Lithuania | 2 | 2023 | -100% | -100% | View data |
