Dublin, Sept. 16, 2024 (GLOBE NEWSWIRE) — The “Bus Rapid Transit Systems – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Bus Rapid Transit Systems is estimated at US$1.3 Billion in 2023 and is projected to reach US$2.2 Billion by 2030, growing at a CAGR of 7.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The expansion of BRT systems is driven by several factors. Quick implementation times make BRT systems ideal for rapidly growing urban areas that need swift solutions to traffic and transit demands. BRT systems also tend to receive substantial public and political support due to their immediate positive impact on transit services, including reductions in travel time and improvements in service quality.
Moreover, the introduction of advanced technologies in BRT systems enhances operational efficiency and passenger convenience, which can increase ridership by improving service reliability through features like real-time data tracking and mobile ticketing. As urban populations grow, the scalability of BRT allows for the accommodation of increasing passenger numbers without extensive new infrastructure, making it a practical choice for expanding cities.
Additionally, BRT plays a crucial role in promoting social equity by providing affordable, reliable transportation to underserved communities, thereby connecting them with essential city services and opportunities for socio-economic advancement.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Articulated Bus segment, which is expected to reach US$1.1 Billion by 2030 with a CAGR of a 8.6%. The Standard Bus segment is also set to grow at 6.8% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $333.0 Million in 2023, and China, forecasted to grow at an impressive 11.5% CAGR to reach $526.3 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Amcor Ltd., Anhui Ankai Automobile Co., Ltd., Ashok Leyland Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Questions Answered:
- How is the Global Bus Rapid Transit Systems Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 178 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $1.3 Billion |
| Forecasted Market Value (USD) by 2030 | $2.2 Billion |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Bus Rapid Transit Systems – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Increasing Traffic Congestion Throws the Spotlight on Bus Rapid Transit Systems
- Environmental Concerns Spur Growth of Eco-friendly Transit Solutions
- Government Initiatives and Investments Propel Growth in BRT Infrastructure
- Advances in Bus Technology Strengthen Business Case for BRT Systems
- Smart City Initiatives Generate Demand for Integrated Transit Solutions
- Improved Road Infrastructure Expands Addressable Market Opportunity for BRT
- Increasing Urban Mobility Needs Spur Investments in BRT Systems
- Growing Emphasis on Sustainable Transportation Generates Opportunities for BRT
- Advances in Real-time Tracking and Passenger Information Systems Drive Adoption
- Increasing Urban Air Pollution Concerns Propel Growth in BRT Initiatives
- Economic Benefits of Reduced Traffic Congestion Spur Investments in BRT Systems
FOCUS ON SELECT PLAYERS(Total 33 Featured)
- Amcor Ltd.
- Anhui Ankai Automobile Co., Ltd.
- Ashok Leyland Ltd.
- Blue Bird Corporation
- Daimler AG
- Designline Bus Pacific Ltd.
- GILLIG LLC
- Graphic Packaging Holding Company
- Mayr-Melnhof Karton AG
- NABI Bus, LLC
- New Flyer Industries, Inc.
- Nova Bus, Inc.
- Optare Group Ltd.
- Scania AB
- Tata Motors Ltd.
- Volvo Bus Corporation
For more information about this report visit https://www.researchandmarkets.com/r/rfpr9i
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- Global Bus Rapid Transit Systems Market
