Bus Rapid Transit System (BRT) Market Outlook 2021-2027:
The bus rapid transit systems (BRT) are well-designed bus transport systems that are developed to deliver efficient, cost-effective, and high public transportation services. The bus rapid transit system (BRT) is a high-quality bus-based transit system that provides a fast and comfortable urban mobility solution, yet cost-effective alternative to considerably more expensive urban rail investments. It combines the capacity of the metro system with the flexibility, cost, and simplicity of a bus system. These systems comprise smart transport systems, stations, terminals, and the right way of lanes. Moreover, the bus rapid transit systems (BRT) is a sophisticated approach to develop an overall transport system in a city. Besides dedicated lanes for buses, the systems also encompass safe and wide corridors for motor vehicles, pedestrians, and cyclists, among others. Hence, owing to the similarity in various features to a light rail or metro system, BRT is more reliable, convenient and faster, and avoid the causes of delay such as being stuck in queuing to pay onboard. These factors are expected to drive the growth of the bus rapid transit system (BRT) market in the forecast period.
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COVID-19 scenario analysis:
- The outbreak of COVID-19 has severely impacted public transit ridership across the globe. Transit agencies have been unable to maintain service levels that have led to significant financial losses.
- The effects of COVID-19 are being felt across the transportation sector. Explore steps transportation leaders can take to respond, recover, and thrive.
- The pressure on organizations during this coronavirus pandemic has shifted from moving citizens to keeping a core transportation system operational with a skeleton workforce to ensure freight and key essential workers can continue to move.
- The impacts on transport organizations, including the availability of skilled personnel during the lockdown and potential financial shortfalls.
- The transportation organizations will need to ensure that transportation networks can continue to operate throughout the lockdown measures, striking a balance between reduced operations and providing enough capacity for key workers to be able to practice social distancing.
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Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Some of the factors that boost increasing road safety expected to propel the adoption of brt systems and reduction in local air pollutants to augment growth are expected to spur the demand over the forecast period. However, high implementation costs and an increasing share of personal motor vehicles is anticipated to hamper the growth of the market. Furthermore, the increasing adoption of battery-driven buses for bus rapid transit system (BRT) systems is expected to offer lucrative opportunities for the market in the forecasting period.
The bus rapid transit system (BRT) Market trends are as follows:
Increasing road safety expected to propel the adoption of BRT systems
The bus rapid transit for passengers can help to reduce the frequency of tragic incidents, injuries, and fatalities and hence improve track safety. Furthermore, safety impact assessments in most developed and developing economies have shown a significant reduction in injuries and fatalities, as well as crashes that resulted in property damage. Hence, an increase in road safety via the implementation of bus rapid transit system (BRT) corridors is expected to propel the growth of the market in the forecast period.
Reduction in local air pollutants to augment growth
The local air pollutants such as particulate matter and carbon monoxide pose public health and environmental concerns. Hence, bus rapid transit system (BRT) systems can have a positive impact on local pollution, smog, and the health of the city residents by enforcing the retirement of older and less-efficient transport vehicles. Additionally, new bi-articulated and articulated buses are capable of conforming to the most stringent emission regulations while also transporting more passengers per bus kilometer. Hence, bus-based transit systems can have a positive environmental impact which is further expected to drive the market growth over the forecast period.
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Key benefits of the report:
- This study presents the analytical depiction of the bus rapid transit system (BRT) market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the bus rapid transit system (BRT) market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the bus rapid transit system (BRT) market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed bus rapid transit system (BRT) market analysis based on competitive intensity and how the competition will take shape in the coming years.
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