Global Bus Rapid Transit Market to Be Driven by Growing Need for Mobility During the Forecast Period 2022-2027 – This Is Ardee
Expert Market Research’s new report 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 in based on its segments bus types, system types, fuel types, applications and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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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 transportation systems. One of the major drivers of market growth is the rapid urbanization across the world, especially in developing economies. The global BRT market is propelled by the growing global population, which has led to an increased need for improved transportation infrastructure. In this regard, the implementation of favorable government regulations encouraging the use of environmentally friendly, sustainable and efficient rapid transit systems also aids in the growth of the market. BRT systems help improve road safety by minimizing the risk of accidents, injuries and deaths by controlling traffic congestion.
Industry definition and major segments
Bus Rapid Transit (BRT) systems are increasingly popular around the world as they provide a lower cost alternative to the more expensive investments needed to create urban rail systems. Due to the flexibility offered by rubber tire systems, high-quality bus-based systems are able to provide superior services to low-density settlements in suburban markets and small to medium-sized towns; the same vehicle can be used to provide rapid transit services in a dedicated bus lane and an auxiliary vehicle to pick up and drop off customers on local roads.
Read the full report with table of contents: https://tinyurl.com/mr2nrn75
By Bus Type, the market is segmented into:
- Speak clearly
By System Type, the market is categorized into:
- Open BRT system
- Closed BRT system
- Hybrid BRT system
By Fuel Type, the market is split into:
- Natural gas
By Application, the market is segmented into:
On the basis of region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Although bus rapid transit (BRT) systems are similar to light rail or metro systems, they are more convenient, fast and reliable than conventional bus services. If properly planned and executed, bus rapid transit (BRT) systems avoid the delays caused by slower conventional bus service systems typically characterized by traffic jams and queues to pay on board . BRT system providers are developing innovative battery-powered buses with minimal energy requirements and negligible greenhouse gas (GHG) emissions. They also make buses that can run efficiently on cleaner fuels, such as biodiesel, compressed natural gas (CNG) and liquefied petroleum gas (LPG). Other factors including significant infrastructure development and use of advanced communication technologies across the globe are expected to further boost the market.
Main market players
The major market players 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 market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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