According to the latest report by IMARC Group, titled “Bus Rapid Transit Systems (BRT) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global bus rapid transit systems (BRT) market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the global market to grow at a CAGR of around 7% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Bus rapid transit (BRT) system stands for a transport solution that offers efficient and cost-effective urban transit services. It focuses on the integrative development of a city by providing smart public transit systems, fare collection systems, terminals, public information systems, foot over bridges, automated lanes, crossing signals, railings and stations, etc. BRT system also offers road markings and signages that can be used by children, senior citizens, wheel-chair bound, and visually impaired individuals.
Rapid urbanization, especially across developing countries, has led to the adoption of advanced transportation systems. Moreover, the growing investments in the upgradation of the existing transit systems to facilitate safe and wide corridors for pedestrians, motor vehicles and cyclists, are further catalyzing the market growth. Additionally, governments across various nations are emphasizing on improving road safety by managing traffic congestion and mitigating the risks of fatalities, accidents, and injuries, thereby bolstering the adoption of BRT systems. Besides this, the rising environmental concerns towards high air pollution levels have led to the introduction of battery-powered buses with high energy efficiency and nominal greenhouse gas (GHG) emissions. All of the aforementioned factors will continue to propel the market for BRT systems in the coming years.
Bus Rapid Transit Systems (BRT) Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the bus rapid transit systems (BRT) market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- 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.
Key Market Segmentation:
The report has segmented the bus rapid transit systems (BRT) market on the basis of bus type, system type, fuel type and region.
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
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/bus-rapid-transit-systems-market
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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