Bus Rapid Transport Systems (BRT) Market Top Performing Companies and Competitive Analysis Report, 2023
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.
(firmenpresse) - 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. BRTating 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.
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
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