The new report by Expert Market Research titled, ‘Global Bus Rapid Transit Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global bus rapid transit market, assessing the market based on its segments bus types, system types, fuel types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027):7%
The global market is expected to be driven by the growth of cities, increasing the need for mobility and safe and efficient public transport systems. One of the key factors driving the market’s growth is rapid urbanisation around the world, particularly in developing economies. The global BRT market is being propelled forward by the growing global population, which has resulted in an increased need for improved transportation infrastructure. In line with this, the implementation of favourable government regulations encouraging the use of environmentally friendly, sustainable, and efficient rapid transit systems also adds to the market growth. BRT systems help to improve road safety by minimising the risk of accidents, injuries, and fatalities by controlling traffic congestion.
Industry Definition and Major Segments
Bus rapid transit (BRT) systems are becoming increasingly popular around the world because they are a less expensive alternative to the more expensive investments required to create urban rail systems. Because of the flexibility provided by rubber tyre systems, high-quality bus-based systems are able to provide superior services to low-density settlements in suburban markets and small to moderate-sized towns; the same vehicle can be used to provide quick line haul services on a reserved bus lane and a feeder vehicle to pick and drop customers on local roads.
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By bus type, the market is segmented into:
- Standard
- Articulated
- Others
By system type, the market is classified into:
- Open BRT System
- Closed BRT System
- Hybrid BRT System
- Others
By fuel type, the market is divided into:
- Diesel
- Natural Gas
- Others
By application, the market is segmented into:
- Urban Areas
- Others
On the basis of region, the market is segmented into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
While bus rapid transit (BRT) systems are similar to light rail or metro systems, these are more convenient, quick, and reliable than conventional bus services. If properly planned and executed, bus rapid transit (BRT) systems avoid delays caused by slower, conventional bus service systems generally characterised by traffic jams and queues to pay onboard. BRT system vendors are developing innovative battery-powered buses with minimal energy requirements and negligible greenhouse gas (GHG) emissions. They are also manufacturing buses that can efficiently run on cleaner fuels, such as biodiesel, compressed natural gas (CNG) and liquified petroleum gas (LPG). Other factors, including significant infrastructural development and the utilisation of advanced communication technologies across the globe, are anticipated to drive the market further.
Key Market Players
The major players in the market are 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, and BYD Motors Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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