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Flights - Denmark

Denmark

Denmark is expected to witness a significant growth in the Flights market revenue, projected to reach US$1.57bn in 2024.
The market is expected to grow at an annual growth rate (CAGR 2024-2028) of 0.94%, resulting in a projected market volume of US$1.63bn by 2028.
Moreover, the number of users in the market is expected to amount to 1.71m users by 2028.
The user penetration rate is projected to be 28.3% in 2024 and 28.2% by 2028.
The average revenue per user (ARPU) is also expected to be high, amounting to US$0.94k.
In the Flights market, it is projected that 93% of total revenue will be generated through online sales by 2028.
Furthermore, in a global comparison, the majority of revenue will be generated in China, reaching a staggering US$136bn in 2024.
Denmark's Flight market is witnessing a shift towards sustainable air travel with increasing demand for biofuels and carbon offsetting options.

Key regions: Germany, China, Saudi Arabia, Malaysia, Thailand

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Analyst Opinion

The Flights market in Denmark has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, and local special circumstances.

Customer preferences: Customers in Denmark have shown a strong preference for air travel, with a growing number of people choosing to fly for both domestic and international trips. This can be attributed to several factors, including the convenience and time-saving benefits of air travel, as well as the increasing affordability of flights. Additionally, Danish customers value the wide range of destinations and travel options available through air travel, allowing them to explore new places and cultures.

Trends in the market: One of the key trends in the Flights market in Denmark is the rise of low-cost carriers. These airlines offer competitive fares and a no-frills approach, appealing to budget-conscious travelers. The presence of low-cost carriers has increased competition in the market, leading to lower prices and more options for consumers. This trend has also contributed to the overall growth of the market, as it has made air travel more accessible to a larger segment of the population. Another trend in the market is the increasing use of online platforms for booking flights. Danish customers are increasingly turning to online travel agencies and airline websites to find the best deals and make their travel arrangements. This shift towards online booking has streamlined the process for customers and allowed them to easily compare prices and options. It has also allowed airlines to reach a wider audience and market their services more effectively.

Local special circumstances: Denmark's geographical location and well-developed transportation infrastructure have also contributed to the growth of the Flights market. As a small country with limited land borders, air travel is often the most convenient and efficient way to travel both domestically and internationally. Additionally, Denmark is home to several major airports, including Copenhagen Airport, which is one of the busiest airports in the Nordic region. These airports serve as important hubs for both domestic and international flights, further driving the demand for air travel.

Underlying macroeconomic factors: The growth of the Flights market in Denmark can also be attributed to favorable macroeconomic factors. Denmark has experienced a stable economy and a strong job market in recent years, leading to increased disposable income and a higher propensity to travel. Additionally, the country's strong tourism industry, with attractions such as Tivoli Gardens and the historic city of Copenhagen, has attracted a growing number of international visitors, further boosting the demand for flights. In conclusion, the Flights market in Denmark has been thriving due to customer preferences for air travel, trends such as the rise of low-cost carriers and online booking, local special circumstances including Denmark's geographical location and transportation infrastructure, and favorable macroeconomic factors. As these factors continue to drive the market, it is expected that the Flights market in Denmark will continue to grow in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of flights.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.