Production in the Urban and Suburban Passenger Land Transport sector in Belgium stood at 303.7 million euros in 2023. It has seen fluctuations over the last decade, peaking at 404.2 million euros in 2019 before declining, with a 5.71% decrease from 2022 to 2023. For the last two years, the sector faced downward variations, and the 5-year CAGR up to 2023 was negative 1.33%. Looking forward, the forecast indicates a sharp decline, with a 5-year CAGR forecasted at negative 10.61%, leading to a sector size of 156.2 million euros by 2028, highlighting a substantial drop of 42.91% by the end of the forecast period.
Future trends to watch for include the potential impact of evolving mobility solutions such as electric and autonomous vehicles, increased emphasis on sustainable transport, and shifts in post-pandemic public transport usage patterns, which could influence recovery rates or further declines in the sector.
