Key Market Indicators
Japanese Passenger Transport Expenditure is projected to decline to approximately $6.9 billion by 2028, down from around $7.5 billion in 2023. This represents an annual decrease of 1.2% in the compound annual growth rate (CAGR). Historical data indicates that since 2013, Japan's demand has fallen by 1.1% each year. In the global rankings for 2023, Japan held the fifth position, with Italy surpassing it at nearly $7.5 billion. France, Canada, and Italy occupied the second, third, and fourth positions, respectively. On the revenue side, Japanese Passenger Transport Revenue is expected to rise to approximately $3.7 billion by 2028, up from about $3.4 billion in 2023. This marks a yearly growth rate of 1.4% on average. Since 2000, the Japanese market has experienced a yearly growth rate of 1.3%. In 2023, Japan was ranked sixth in revenue, with Thailand overtaking it at about $3.4 billion. Qatar, Ireland, and Russia were positioned second, third, and fourth, respectively.