From 2014 to 2019, the number of motor coach, bus, and trolley bus seats in Finland saw a steady increase, with a consistent year-on-year growth rate reflecting positive market expansion, peaking in 2019 with a 689.43 million units. However, the year 2020 experienced a sharp decline of 15.6%, likely due to the impacts of the COVID-19 pandemic. The market quickly rebounded in 2021 with a significant 16.32% growth, reaching 676.88 million units, and continued to grow through 2022 and 2023. By 2023, the seat volume stood at 734.67 million units, reflecting market recovery and growth stability.
Looking ahead, from 2024 onwards, the forecast predicts continued growth, albeit at a moderate pace with a forecasted CAGR of 1.2% over the next five years, resulting in an estimated 6.14% cumulative growth rate by 2028. This suggests a stable yet cautious market outlook as the sector continues to mature.
Future trends to watch for:
- Technological advancements in electric and autonomous buses could drive changes in market dynamics.
- Government policies promoting sustainable transportation could impact the fleet composition.
- Market recovery post-COVID-19 and economic factors influencing public transportation demand.
- Shifts in urbanization and population growth patterns affecting transit needs.
