Industry revenue of »manufacture of parts for motor vehicles« in Czechia 2011-2023
Czech Republic ranks second in the world with respect to passenger car production per capita. The automotive sector forms a vital part of the economy, accounting for 9 percent of the national GDP. Although the country lacks indigenous manufacturing capabilities, leading car manufacturers such as Skoda, Hyundai, Volkswagen and Peugeot have established their base in the country, owing to the availability of a skilled workforce, advanced infrastructural facilities and its favorable location. Therefore, it isn’t surprising to see why revenues of its motor vehicle parts manufacturing industry are projected to grow from 16.7 billion U.S. dollars in 2011 to over 43 billion U.S. dollars by 2023.
Amongst its two segments, majority of the revenues are generated from ‘manufacturing other parts and accessories’, with ‘electric and electronic equipment’ accounting for only a marginal share. However, revenues in this segment are poised to grow rapidly in the long term as manufacturers are increasingly producing electric vehicles, in a bid to reduce carbon emissions.
Amongst its two segments, majority of the revenues are generated from ‘manufacturing other parts and accessories’, with ‘electric and electronic equipment’ accounting for only a marginal share. However, revenues in this segment are poised to grow rapidly in the long term as manufacturers are increasingly producing electric vehicles, in a bid to reduce carbon emissions.
