Industry revenue of »manufacture of electrical equipment for motor vehicles« in Belgium 2011-2023

Historically, Belgium was a key center for motor vehicle production. In fact, prior to the First World War, the country was home to nearly 200 car manufacturers, with 75 percent of its production exported across the globe. However, over the years, vehicle production has gradually shifted out of the country to low-cost manufacturing bases such as China, India, Mexico and South Korea to name a few. Rapid increase in imports of electrical machinery is expected to dismantle the manufacturing of electrical equipment for motor vehicle in the country. Industry revenues are projected to drop off the cliff, from 263.06 million U.S. dollars in 2011 to virtually nothing by 2023.

In a similar vein, total number of employees in the motor vehicles manufacturing industry have reduced from 24,069 in 2008 to 19,727 in 2014, with revenues expected to reduce by half between 2010 and 2022.

Industry revenue of »manufacture of electrical equipment for motor vehicles« in Belgium from 2011 to 2023

Exclusive Corporate Account feature

To view this statistic you need a Corporate Account, which includes the following benefits

  • Access to all content
  • Download as XLS, PPT, PNG and PDF
  • Detailed source and background information
Corporate Account
$700 per month*
(billed annually)
* All products require an annual contract; Prices do not include sales tax.
Show detailed source information?
Register for free
Already a member?
Log in
Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Belgium. The industry “manufacture of electrical and electronic equipment for motor vehicles“ has the code “C2931“.

Details on the methodology can be found here.

Please visit here for more information on Statista market forecasts.

Use Statista now: unlimited access to all content

Statistics on "Economic Outlook Belgium"

Further Content: You might find this interesting as well

Statistics

Use Statista now: unlimited access to all content
Learn more about how Statista can support your business.