The global Bus Rapid Transit (BRT) Systems Market is estimated to have a rapid expansion over the forecast period i.e., from 2018 to 2025. A BRT system, also called as BRTS or T-way or quality bus, is a public transportation system designed to help improve the overall reliability and capacity of conventional bus systems. A BRT system offers safer, faster, more efficient, and cost-effective public transport services than the conventional systems. These factors have encouraged various governments, particularly in the developing regions, to implement BRTS. Hence, it is one of the major factors augmenting the growth of the market.
Governments across the world are taking initiatives to strengthen and further develop public transport systems and infrastructure to safeguard lives of their citizens, thereby contributing toward the BRT systems market expansion. On the other hand, factors such as political issues and opposition for BRTS implementation from the local residents may hamper the overall development over the coming years. However, BRT systems have gained the support of various regulatory bodies such as the US Environmental Protection Agency (EPA) as these systems generate relatively lower levels of pollution than the traditional systems. This is also likely to help spur the overall development of the BRTS market in near future.
The global bus rapid transit (BRT) systems market is categorized as per type, application, and region. Based on type, the market is segmented into semi-open exclusive lane, open type exclusive lane, and other. Based on application, the market is categorized into medium-sized cities and large cities. Based on geographies, the market is divided into Europe, United States, Japan, China, Southeast Asia, and India.
The Southeast Asia region is predicted to register a rapid growth over the forecast period on account of the presence of various developing economies. Countries like India and China have undertaken various initiatives and development programs for the implementation of bus rapid transit systems implementation. Moreover, governments in these economies are in favor of sustainable public transport system and thus are focusing on different national public transport investment programs for the adoption of BRT systems.
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Economies like India, China, and Japan have a huge contribution toward the global BRT system market as the regional governments in these countries promote high comfort levels for urban travelers. Improved lifestyles, due to a rise in customer disposable incomes, and rapidly growing population base in metro cities across the globe have resulted in an increased demand for inexpensive and sophisticated transportation services. All these factors have positively affected the growth of the BRT systems market in the Southeast Asia region since the last few years.
Some of the leading companies operating in the global bus rapid transit (BRT) systems market include King Long United Automotive Industry Co. Ltd.; Jiangsu Huimin Traffic Facility Co. Ltd.; Qingdao Hisense Communication Co. Ltd.; The Volvo Group; and ZF Friedrichshafen AG.
One of the recent updates in the BRTS market includes the loan approval by the Asian Development Bank (ADB) for Pakistan’s innovative BRTS in Peshawar. The new BRT corridor in Peshawar will span 26 km from Chamkani to Hayatabad and the entire system is expected to include one staging facility, two depots, and 32 stations. The corridor will be redesigned along the new system, including streetlights, drainages, sidewalks, etc. It is also projected to include innovative features such as park-and-ride facilities, bicycle lanes, and a continuous walkway.
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This report studies the global Bus Rapid Transit (BRT) Systems market, analyzes and researches the Bus Rapid Transit (BRT) Systems development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like
• MAN Corporation
• Volvo Group
• Rapid Transit
• Xiamen Kinglong
• Yutong Group
• Lantianyuan Technology
• Qingdao Hinsense
• Yutong Group
• Jiangsu Huimin Traffic Facility
Market segment by Regions/Countries, this report covers
• United States
• Southeast Asia
Market segment by Type, the product can be split into
• Open Type Exclusive Lane
• Semi-Open Exclusive Lane
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