Dublin, Dec. 08, 2022 (GLOBE NEWSWIRE) -- The "Bus Rapid Transit Systems (BRT) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global bus rapid transit systems (BRT) market size reached US$ 742 Million in 2021. Looking forward, the publisher expects the market to reach US$ 1,160.6 Million by 2027, exhibiting a CAGR of 7.74% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
The bus rapid transit system (BRT) refers to a sophisticated transport solution that delivers efficient, cost-effective and flexible urban mobility services. It consists of smart public transit systems, fare collection systems, terminals, automated lanes, public information systems, foot over bridges, pedestrian subways, crossing signals, railings and stations. The utilization of BRT emphasizes on the holistic development of a city by providing safe and wide corridors for motor vehicles, pedestrians and cyclists. It also offers user-friendly road markings and signages that can be used by children, senior citizens, visually impaired and wheel-chair bound individuals.
Rapid urbanization across the globe, especially in developing economies, represents one of the key factors driving the growth of the market. Furthermore, the rising global population, which has resulted in the increasing demand for improved transportation facilities, is providing a thrust to the market growth. BRT systems aid in enhancing road safety by managing traffic congestion and reducing the risks of accidents, injuries and fatalities.
In line with this, the implementation of favorable government policies promoting the adoption of sustainable and efficient rapid transit systems that have minimal impact on the environment are also contributing to the market growth. BRT system vendors are developing innovative battery-powered buses that have minimal energy requirements with 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, along with the utilization of advanced communication technologies across the globe, are anticipated to drive the market further.
| Report Attribute | Details |
| No. of Pages | 143 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value (USD) in 2021 | $742 Million |
| Forecasted Market Value (USD) by 2027 | $1160.6 Million |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global bus rapid transit systems (BRT) market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on bus type, system type and fuel type.
Breakup by Bus Type:
- Standard
- Articulated
- Others
Breakup by System Type:
- Open BRT System
- Closed BRT System
- Hybrid BRT System
Breakup by Fuel Type:
- Diesel
- Natural Gas
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
5 Global Bus Rapid Transit Systems (BRT) Market
6 Market Breakup by Bus Type
7 Market Breakup by System Type
8 Market Breakup by Fuel Type
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
Companies Mentioned
- AB Volvo
- Ashok Leyland (Hinduja Group)
- BYD Company Limited
- Cubic Corporation
- Daimler AG
- MAN SE (Volkswagen AG)
- Marcopolo S.A.
- Tata Motors Limited (Tata Group)
- Xiamen King Long Motor Group Co. Ltd.
- Zhengzhou Yutong Bus Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/rr1m9g
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