Global Bus Rapid Transit System Market Forecast 2024-2033 – Market Size, Drivers, Trends, And Competitors

The Business Research Company’s Bus Rapid Transit System Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 17, 2024 /EINPresswire.com/ -- The global bus rapid transit system market is projected to grow from $2.56 billion in 2023 to $2.83 billion in 2024, at a compound annual growth rate (CAGR) of 10.7%. Despite challenges from the Russia-Ukraine conflict and the pandemic, the market is anticipated to reach $4.05 billion by 2028, driven by the increasing need for sustainable transport solutions and the benefits offered by bus rapid transit (BRT) systems.

Rising Need for Sustainable Transport Drives Market Growth
The rising need for sustainable transport is a significant factor contributing to the growth of the bus rapid transit system market. Sustainable transport involves using modes of transportation that are energy-efficient, low- or zero-emission, and affordable. BRT systems offer a sustainable mode of transportation that helps reduce carbon emissions from transportation. With transport accounting for a significant portion of global oil consumption and energy-related carbon dioxide emissions, there is an increasing focus on sustainable transport solutions like BRT systems to mitigate environmental impact.
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Key Players and Market Trends
Key players in the bus rapid transit system market, such as Mercedes-Benz Group AG and Siemens AG, are focusing on developing innovative products, including automated transit buses, to provide reliable customer service. Automated transit buses are capable of operating without a human driver, using sensors and software to navigate roads, stop at designated stops, and open/close doors. This technology enhances passenger safety and convenience while reducing the need for human drivers.
In a strategic move, New Flyer of America Inc. launched the Xcelsior AV automated transit bus, meeting Society of Automotive Engineers (SAE) Standard J3016 Level 4 technology with the automated vehicle (AV). This fully functional, heavy-duty automated transit bus harnesses the zero-emission power of New Flyer's Xcelsior CHARGETM battery-electric propulsion, providing an eco-friendly transport solution.

Bus Rapid Transit System Market Segments:
• Type: Articulated, Bi-Articulated, Traditional Bus
• Seating Capacity: Less Than 50, 50-80 Seater, Above 80
• Level of Service: Express, Semi-Express, Local
• Fuel Type: Diesel, Natural Gas, Other Fuel Types
• End-Use: Government, Private

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific led the bus rapid transit system market in 2023 and is expected to be the fastest-growing region. The region's growth can be attributed to smart city initiatives, climate change mitigation goals, government funding, and policies aimed at enhancing public transportation systems.

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Bus Rapid Transit System Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Bus Rapid Transit System Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on bus rapid transit system market size, bus rapid transit system market drivers and trends, bus rapid transit system market major players, competitors' revenues, market positioning, and market growth across geographies. The bus rapid transit system market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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