The forecast for the import of buses to South Korea indicates a progressive increase in value from 2024 to 2028. In 2023, the actual value stood at 79.25 million US dollars. The forecasted values for the following years show steady growth: 83.151 million in 2024, 87.312 million in 2025, 91.389 million in 2026, 95.385 million in 2027, and 99.302 million in 2028.
Year-on-year variations show consistent growth:
- From 2024 to 2025: 5%
- From 2025 to 2026: 4.7%
- From 2026 to 2027: 4.4%
- From 2027 to 2028: 4.1%
The compound annual growth rate (CAGR) over the five years from 2024 to 2028 is an average of 4.55% per year.
Future trends to watch for include potential shifts in the transportation sector due to technological advancements, changes in government policies regarding public transport, and potential economic fluctuations. Market saturation and changing consumer preferences towards eco-friendly and technologically advanced buses may also impact the import dynamics in the upcoming years.
