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Global Bus Rapid Transit (BRT) Market to Grow at a CAGR of 7.00% During the Period 2022-2027, Driven by Development of Cities
According to a new report by EMR titled, ‘Global Bus Rapid Transit (BRT) Market Report and Forecast 2022-2027’, the global bus rapid transit (BRT) market is expected to grow at a CAGR of 7.00% during the period 2022-2027, led by need for efficient public transport systems.
The global bus rapid transit (BRT) market is expected to be driven by development of cities and growing need for mobility and safe and efficient public transport systems. North America, Europe and Asia are expected to be key markets.
Bus rapid transit (BRT) systems have become increasingly popular across the globe as these offer relatively economical alternatives to costlier investments needed to develop urban rail systems. A good bus rapid transit (BRT) system includes:
Dedicated bus lanes – Bus rapid transit (BRT) buses operate in lanes specified for these buses. Where there are double lanes, permitting express lines on the same route, a free route further on enables reliable and timely operations.
High-capacity buses – High-capacity buses enable transportation of a larger number of passengers. On busy, routes, frequent departures enable quick pick up and drop and avoid congestion.
Pre-paid tickets – Prepayment of tickets enables efficiency and quick boarding and exit.
Level boarding – Good bus rapid transport (BRT) systems feature platforms with the same height as that of the bus floor. This helps in quick and easy boarding, and is especially beneficial for the elderly and those with functional disability.
Online passenger information – An efficient bus rapid transport (BRT) system includes a robust traffic management system which enables the passengers to know bus arrivals and departures through real-time information sharing.
Bus rapid transport systems are developing across the globe. For example, in 2021, Tata Motors delivered 60 Ultra Urban 9/9 electric buses to Ahmedabad Janmarg Limited (AJL) to be run on Ahmedabad’s Bus Rapid Transit System (BRTS) corridor. The 24-seater zero-emission buses were supplied under the FAME II initiative through a Gross Cost Contract (GCC) with AJL. Tata Motors would also set up needed charging infrastructure and support systems for efficient functioning of the buses.
In 2022, Fairfax County, Northern Virginia Transportation Authority (NVTA), Virginia Department of Transportation (VDOT) and other stakeholders disclosed the new brand of the future Richmond Highway Bus Rapid Transit (BRT) system. The brand reveal was a significant step towards the construction of a modern, high-quality public transportation system along the Route 1 corridor. The bus rapid transit (BRT) system, along with the simultaneous broadening of Route 1 were part of a $1 billion investment to rejuvenate Richmond Highway.
Key Findings of the Report:
- The need to modernize public transportation systems is expected to drive the market.
- Increasing concerns towards environmental issues and the need to devise eco-friendly mass mobility solutions are expected to stimulate the market.
- North America, Europe and Asia are expected to be key markets.
Market Analysis by Bus Type, System Type, Fuel Type, Application and Region:
- By bus type, the market is segmented into Standard, Articulated and Others.
- By system type, the market is classified into Open BRT System, Closed BRT System, Hybrid BRT System and Others.
- By fuel type, the market is divided into Diesel, Natural Gas and Others.
- By application, the market is segmented into Urban Areas and Others.
- By region, the market is divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
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