Market Outlook
According to the report by Expert Market Research (EMR), the global bus rapid transit (BRT) market size is projected to grow at a CAGR of 7% between 2024 and 2032. Aided by the increasing recognition of BRT as an efficient, cost-effective solution to urban transport challenges, the market is expected to grow significantly by 2032.
Bus rapid transit is a high-quality, bus-based transit system that delivers fast, comfortable, and cost-effective urban mobility through the provision of dedicated lanes, busway alignment, and other infrastructure enhancements. BRT combines the capacity and speed of light rail or metro with the flexibility, lower cost, and simplicity of a bus system. It includes features like off-board fare collection, intersection treatments, and platform-level boarding to reduce delays and improve customer convenience.
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According to the bus rapid transit (BRT) market analysis, rapid urbanisation globally has led to increased traffic congestion, making efficient public transport systems like BRT an attractive option for cities. BRT systems offer a scalable solution to address the growing demand for reliable urban transit, helping to reduce congestion and improve travel times.
Amid rising concerns over climate change and sustainable urban development, bus rapid transit (BRT) market growth is witnessing a surge for their lower carbon footprint compared to private vehicles and traditional bus services. By promoting the use of public transport, BRT contributes to reduced greenhouse gas emissions and improved air quality in urban areas.
BRT systems are more cost-effective to implement and maintain compared to rail-based transit systems. Their flexibility in terms of route modification and scalability makes them a practical choice for cities looking to improve public transport infrastructure without the extensive costs associated with rail projects.
The market is seeing varied levels of adoption across different regions. Latin America has been a pioneer in BRT implementation, with successful systems in cities like Bogotá and Curitiba. Asia Pacific is witnessing rapid growth in BRT adoption, driven by urbanisation and increasing environmental consciousness. North America and Europe also show substantial growth potential, with several cities exploring BRT as a way to enhance their public transport systems.
Looking ahead, the bus rapid transit (BRT) market demand is poised for further growth, driven by urbanisation, environmental concerns, and the continuous evolution of BRT technology. Innovations in electric and autonomous buses are expected to further enhance the appeal of BRT systems. Moreover, integration with other modes of transport and smart city initiatives will likely open new avenues for the expansion of BRT systems.
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Market Segmentation
The market can be divided based on bus type, system type, fuel type, application, and region.
Market Breakup by Bus Type
- Standard
- Articulated
- Others
Market Breakup by System Type
- Open BRT System
- Closed BRT System
- Hybrid BRT System
- Others
Market Breakup by Fuel Type
- Diesel
- Natural Gas
- Others
Market Breakup by Application
- Urban Areas
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global bus rapid transit (BRT) market. Some of the major players explored in the report by Expert Market Research are as follows:
- AB Volvo.
- Tata Motors Limited
- MAN Truck & Bus SE
- Ashok Leyland Limited
- Zhengzhou Yutong Bus Co., Ltd.
- Xiamen King Long United Automotive Industry Co., Ltd
- BYD Motors Inc.
- Others
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