Global Bus Rapid Transit (BRT) Market Report and Forecast 2024-2032

Global Bus Rapid Transit (BRT) Market Outlook

The global bus rapid transit (BRT) market is expected to grow at a CAGR of 7.00% during the period 2024-2032. The market is expected to be driven by growth of cities, increasing need for mobility and safe and efficient public transport systems.

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Market Likely to be Driven by Rapid Growth of Cities and Need for Efficient Transport Systems

Efficient bus rapid transit (BRT) systems assist growth and support a population’s quality of life; such systems enable shorter travel time, decreased traffic congestion, lesser traffic accidents and positive socio-economic impacts. These factors are significant drivers. 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. High quality bus-based systems are able to offer superior services to low density settlements in suburban markets and small to moderate sized towns through the flexibility offered by rubber tyre systems; the same vehicle can be used to offer quick line haul services on a reserved bus lane as well as a feeder vehicle to pick and drop customers on local roads.

Bus Rapid Transit (BRT) Allows Delivery of Superior Services

Superior services are enabled through dedicated lanes, alignment of busways and stations towards the centre of the road, off-board collection of fare, and fast and regular operations. While bus rapid transit (BRT) systems are similar to light rail or metro systems, these are more convenient, quick and reliable than conventional bus services. If properly planned and executed, bus rapid transit (BRT) systems avoid delays caused by slower, conventional bus service systems generally characterized by traffic jams and queues to pay on board. Bus rapid transit (BRT) may be implemented in several ways. While even fundamental applications may help resolve acute traffic problems, an entire system can significantly change the structure of an urban district. These advantages are expected to contribute to the growth of the global bus rapid transit (BRT) market.

A bus rapid transit (BRT) corridor refers to a segment of road or adjoining roads served by one or more bus routes with at least three kilometres (1.9 miles) of dedicated bus lanes. The BRT Standard is to be applied to particular bus rapid transit (BRT) corridors and not to an entire bus rapid transit (BRT) system as the quality of bus rapid transit (BRT) varies with city. A corridor is considered bus rapid transit (BRT) if it:

• Is of minimum three kilometres in length with dedicated lanes.
• Scores 4 points or above in dedicated right-of-way element.
• Scores 4 points or above in busway alignment element. 
• Scores 20 points or above across all five Bus Rapid Transit (BRT) Basics element.

Socioeconomic and Environmental Benefits Offered by Bus Rapid Transit (BRT) Systems Expected to Boost the Global Bus Rapid Transit (BRT) Market

Efficiently designed and executed bus rapid transit (BRT) systems can help reduce air and noise pollution by reducing the number of private vehicles required to run on the road. After the opening of the TransMilenio network in Bogota, Colombia, in the year 2000, a significant reduction in accidents and emissions was reported. Thus, bus rapid transit (BRT) systems lead to enhanced quality of life of city residents, and socioeconomic benefits. In the long-term, bus rapid transit (BRT) systems help local businesses prosper and new businesses take place along the corridor. This in turn stimulates property prices, creates job opportunities and strengthens the local economy.

Market Segmentation

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By bus type, the market is segmented into:

• Standard 
• Articulated
• Others

By system type, the market is classified into:

• Open BRT System
• Closed BRT System
• Hybrid BRT System 
• Others

By fuel type, the market is divided into:

• Diesel
• Natural Gas
• Others

By application, the market is segmented into:

• Urban Areas
• Others

By region, the market is divided into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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Key Industry Players in the Global Bus Rapid Transit (BRT) Market

The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• 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
• BYD Motors Inc.
• Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report