Bus Rapid Transport Systems (BRT) Market Emerging Trends, Global Demand, and Revenue Analysis
25 June 2019, The global
bus rapid transport systems (BRT) market is anticipated to grow at a significant CAGR of 9.57%
during the forecast period. Bus rapid transport systems (BRT) is a public
transportation system that provides efficient and safer transportation when
compared to traditional bus service. BRT’s have gained a wide popularity and
has benefited commuters with high-quality public transits from around the
world. It has proven as a cost-effective alternative for expensive urban
settlements since high-quality bus-based systems serve an excellent commute
service based on a few principles. Operating with an organized approach, it is
mainly designed for urban settings.
Bus rapid transport
systems (BRT) market is driven by development of transport systems in metro
cities for commuters. Government spending and awareness for developing a
sustainable infrastructure for transport is a priority based need in urban
areas. Tremendous load of commuters and shortage of transport vehicles is
likely to propel the market growth during the forecast period.
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Metro cities all around the world are
now adopting this model as it ensures less traffic and encourages safety for
pedestrians and other commuters. However, political differences and corruption
on regional level affects the progress of the BRT systems in various cities.
Market is geographically segmented as North America, South America, Europe,
Asia-Pacific, Middle East and Africa.
North America and Europe market is
expected to grow at a significant CAGR during the forecast period owing to
technological developments in the transport systems for daily commuters.
Asia-Pacific regions are likely to grow in the forecast period due to
developing interests of government to build a robust transport system. Rise in
tourism also triggers the need to have an efficient and organized transport
system.
The key players profiled in the bus
rapid transport systems (BRT) market report are Brampton Transit’s Zum, Calgary
Transit Services, Kelowna Regional Transit System’s Rapid Bus, and Societe De
Transport De Montreal’s Route 505.
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