From 2013 to 2017, the number of units showed moderate fluctuations, mostly positive. However, from 2018 onwards, there was a consistent decline, with year-on-year variations between -1.18% and -5.42%. The 5-year CAGR leading up to 2023 was -3.28%. It is projected that the number will continue to decrease, reaching 9.93 thousand by 2028, reflecting a forecasted 5-year CAGR of -1.82% and a total forecasted growth rate of -8.78%.
Future trends to watch include technological advancements in public transportation and increasing environmental regulations, which could affect the number and type of vehicles in operation. Additionally, shifts in public transportation policies and investments could lead to significant changes in the market dynamics.
