Belgium's urban and suburban passenger land transport production value has shown significant variability from 2013 to 2023, peaking at 404.2 million euros in 2019, followed by consistent decreases. The value stood at 303.7 million euros in 2023, showing a decline compared to previous years. The sector experienced a sharp decline in 2024 and has a forecasted five-year CAGR of -10.61%, indicating a downward trend expected to persist until 2028.
Key Variations to Note:
- Year-on-year variations: The production value had notable drops in recent years, with -5.71% in 2023 compared to 2022. The early years saw fluctuations, such as the +24.48% increase in 2019.
- CAGR over the last five years: -1.33%, reflecting a modest, yet consistent decline.
- 2024 to 2028 forecast: The projected decline continues with a forecasted five-year growth rate of -10.61%, marking a substantial long-term decrease in production value.
Future Trends to Watch For:
- Technological developments and changes in consumer preferences could alter the demand for urban/suburban transport.
- Potential regulatory and environmental policies affecting public transport systems.
- The impact of socio-economic factors, such as population shifts and urbanization patterns, on the overall transport sector dynamics.
