Based on the presented data, the value added of road passenger transport in Japan is forecasted to decline from 429.0 billion Japanese Yens in 2024 to 419.94 billion Japanese Yens in 2028. This indicates a slight year-on-year reduction over the forecasted period. Looking back, the value stood at 432.0 billion Japanese Yens in 2023, reflecting a general downward trend.
A year-on-year analysis highlights small but consistent decreases of approximately 0.55% to 0.6%. Over the last two years, the reduction has been approximately 1.67%. When considering the compound annual growth rate (CAGR) for the five-year period from 2024 to 2028, the average annual decline appears to be about 0.6%.
Future trends to watch for include technological advancements in transportation, government policies on sustainable transport, and demographic changes affecting demand. Monitoring shifts in these areas will provide further insights into long-term market dynamics.
