Between 2013 and 2023, the turnover in the Urban and Suburban Passenger Land Transport sector in Norway has seen a steady overall increase. The value rose from 7.89 billion Norwegian Krones in 2013 to 17.77 billion Norwegian Krones in 2023. Year-on-year variations show significant increases in the early years, especially between 2014 and 2015 (17.38% and 29.43%, respectively). However, since 2019, growth has moderated with lower percentage increases, such as 3.94% in 2023.
The Compound Annual Growth Rate (CAGR) over the last five years stands at 4.41%, indicating a steady growth trend despite occasional fluctuations. The data forecast suggests a continued but slowing growth trend from 2024 onwards, with an anticipated CAGR of 2.67% for the next five years, projecting the turnover to reach 21.04 billion Norwegian Krones by 2028.
Future trends to watch for include the impact of evolving urban mobility solutions, such as electric and autonomous public transport. Environmental policies and technological advancements could significantly influence turnover in this sector. Enhanced urban planning and investment in sustainable transport infrastructure might also play crucial roles in shaping future growth.
