Disclaimer: This is a user generated content submitted by a member of the WriteUpCafe Community. The views and writings here reflect that of the author and not of WriteUpCafe. If you have any complaints regarding this post kindly report it to us.

Bus Rapid Transit Market will exhibit a CAGR of 8.1% during the forecast period, and reach USD 1040.27 million by 2027, and the Market value as per 2019 was USD 822.86 million.

Fortune Business Insights™ in a new report, titled,  “Bus Rapid Transit (BRT) Market Size, Share & Industry Analysis, By Bus Type (Standard, Articulated, Others), By Application (Urban Areas, Others), and Regional Forecast, 2020-2027.”

Bus Rapid Transit Market Drivers and Restraint:

Rising Demand for Road Safety will Favor Growth

Bus rapid transit corridors help in lowering the frequency of fatalities, injuries, and traffic incidents. They also enhance traffic safety. The TransMilenio BRT in Bogota, for instance, successfully lowered the rates of injuries and crashes of two main corridors. Besides, EMBARQ stated that it conducted thorough safety impact assessments that consisted of the before and after data for four BRT systems in Latin America, Australia, and India. The result was a reduction in the overall rate of crashes. The increasing implementation of BRT corridors stoked by the urgent need to surge road safety would propel the bus rapid transit market growth in the near future.

However, the COVID-19 pandemic has increased the risks of traveling with other passengers. The public transportation systems in various countries worldwide have been stopped owing to lockdown and social distancing measures to prevent the transmission of coronavirus. This factor may hinder the market growth.

List of Key Players Covered in the Bus Rapid Transit Market Report:

  • AB Volvo (Gothenburg, Sweden)
  • Tata Motors (Mumbai, India)
  • MAN (Munich, Germany)
  • Ashok Leyland (Chennai, India)
  • Yutong (Zhengzhou, China)
  • Marcopolo S.A. (Caxias do Sul, Brazil)
  • King Long (Xiamen, China)

To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/bus-rapid-transit-brt-market-103436

 Some of the key industry developments in the Bus Rapid Transit Market Include:

  • February 2020: Volvo Buses provided 21 conventional, 13 B340M articulated, and 6 B340M bi-articulated buses to Curitiba for improving its transportation system.
  • December 2019: New Flyer bagged a contract from Brampton Transit (Canada) to provide 60-foot Xcelsior diesel-electric hybrid buses. It will be delivering 10 heavy-duty buses for broadening the Zum bus rapid transit fleet.

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune – 411045, Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com

Fortune Business Insights™

LinkedIn | Twitter | Blogs

Login

Welcome to WriteUpCafe Community

Join our community to engage with fellow bloggers and increase the visibility of your blog.
Join WriteUpCafe