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Report
Bus Rapid Transit (BRT) Vehicles Market Size - By Vehicle (Conventional, Articulated, Bi-Articulated), Fuel (Diesel, Natural Gas, All-Electric, Hybrid), Seating Capacity (Below 100 Seats, 100-200 Seats, Above 200 Seats), Application & Forecast, 2024 - 2032
Market Report I 2024-04-30 I 250 Pages I Global Market Insights
Global Bus Rapid Transit BRT Vehicles Market is set to witness 7.5% CAGR during 2024-2032, driven by traffic congestion in urban areas and the requirement for sustainable transportation solutions.
According to World bank, as of 2023, approximately 50% of the global population was living in urban areas. This is anticipated to continue, with urban inhabitants being twice the current number by 2050. nbspThe need for efficient transportation solutions becomes paramount to accommodate the growing population and reduce the issue of congestion on roadways. BRT systems offer a feasible solution by offering high-capacity transit services that can easily transport large numbers of passengers within urban environments. Moreover, the rise of urbanization results in economic development, further boosting the demand for effective public transit options like BRT systems.
Bus Rapid Transit BRT Vehicles industry is classified based on vehicle, fuel, seating capacity, application and region.
The natural gas segment will witness rapid growth through 2032, owing to rising government focus on introducing renewable energy alternatives. Vehicles powered by natural gas results in lower emissions when compared to traditional diesel buses, making them an appealing choice for regions aiming to improve air quality and comply with environmental regulations. Additional, innovations in engine technology have further improved fuel efficiency and overall operational performance of these vehicles, further boosting the demand for natural gas-powered BRT vehicles.
The conventional BRT vehicle segment will continue to hold a notable share during 2024 and 2032, owing to a well-established infrastructure, including extensive refueling stations and maintenance facilities, ensuring their widespread operability and convenience. Additionally, the lower initial cost compared to electric or hybrid alternatives makes them an economically attractive option for many municipalities and transit agencies. The advancements in fuel efficiency and emissions reduction technologies are helping to mitigate environmental concerns, allowing conventional vehicles to remain a viable choice in the transition towards more sustainable public transport solutions.
Europe BRT vehicles industry size will expand rapidly through 2032, driven by a well-established public transportation network and the government's commitment to introducing sustainable mobility solutions. With growing urbanization and rising environmental concerns, cities are investing in BRT infrastructure to improve mobility and reduce emissions. The favorable regulatory environment and effective government support for public transit projects further boosts the growth prospects of the BRT vehicles market in Europe.
Report Content
Chapter 1 Methodology & Scope
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates and calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
Chapter 2 Executive Summary
2.1 Industry 360 degree synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Raw material suppliers
3.2.2 Component suppliers
3.2.3 Manufacturer
3.2.4 Technology providers
3.2.5 Distributors
3.2.6 End-users
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Increasing urbanization and rising population
3.8.1.2 Growing demand for sustainable and efficient transportation options
3.8.1.3 Technological advancements in overall system integration
3.8.1.4 Demand for fast transportation services
3.8.1.5 Rising demand for electric vehicle from public transportation sector
3.8.2 Industry pitfalls & challenges
3.8.2.1 High maintenance and operational costs
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Vehicle, 2021 - 2032 ($Bn, Units)
5.1 Key trends
5.2 Conventional
5.3 Articulated
5.4 Bi-Articulated
Chapter 6 Market Estimates & Forecast, By Fuel, 2021 - 2032 ($Bn, Units)
6.1 Key trends
6.2 Diesel
6.3 Natural gas
6.4 All-electric
6.5 Hybrid
6.6 Others
Chapter 7 Market Estimates & Forecast, By Seating Capacity, 2021 - 2032 ($Bn, Units)
7.1 Key trends
7.2 Below 100 seats
7.3 100-200 seats
7.4 Above 200 seats
Chapter 8 Market Estimates & Forecast, By Application, 2021 - 2032 ($Bn, Units)
8.1 Key trends
8.2 Urban
8.3 Suburban
Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2032 ($Bn, Units)
9.1 Key trends
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.3 Europe
9.3.1 UK
9.3.2 Germany
9.3.3 France
9.3.4 Spain
9.3.5 Italy
9.3.6 Russia
9.3.7 Nordics
9.3.8 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 India
9.4.3 Japan
9.4.4 South Korea
9.4.5 ANZ
9.4.6 Southeast Asia
9.4.7 Rest of Asia Pacific
9.5 Latin America
9.5.1 Brazil
9.5.2 Mexico
9.5.3 Argentina
9.5.4 Rest of Latin America
9.6 MEA
9.6.1 UAE
9.6.2 South Africa
9.6.3 Saudi Arabia
9.6.4 Rest of MEA
Chapter 10 Company Profiles
10.1 Alexander Dennis Limited
10.2 Beiqi Foton Motor Co., Ltd.
10.3 BYD Company Limited
10.4 Daimler AG
10.5 Ebusco
10.6 Irizar Group
10.7 MAN Truck & Bus AG
10.8 Marcopolo S.A.
10.9 New Flyer Industries Inc.
10.10 Proterra
10.11 Scania AB
10.12 Solaris Bus & Coach S.A.
10.13 Tata Motors Limited
10.14 Van Hool NV
10.15 VDL Bus & Coach
10.16 Volvo Group
10.17 Xiamen Golden Dragon Bus Co. Ltd
10.18 Xiamen King Long United Automotive Industry Co., Ltd.
10.19 Zhengzhou Yutong Bus Co., Ltd.
10.20 Zhongtong Bus Holding Co., Ltd.
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