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Bus Rapid Transit (BRT) Vehicles Market Share

Report ID: GMI9290
Published Date: Apr 2024
Report Format: PDF

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Bus Rapid Transit Vehicles Market Share

Volvo Group and Daimler dominate the market with around 13% of the market share. Volvo places a strong emphasis on sustainability in its BRT vehicles, providing alternative fuel choices, electric propulsion systems, and environmentally friendly attributes to lessen emissions, noise disturbances, and ecological footprints. This aligns with urban sustainability goals and meets the demands of environmentally conscious customers.

Daimler AG focuses on customer-centric strategies in developing products and delivering services, recognizing the distinct requirements and obstacles faced by transit agencies, operators, and passengers. Daimler AG's BRT vehicles are designed to prioritize reliability, accessibility, and passenger comfort, ensuring a tailored solution that meets the needs of all stakeholders involved.

Bus Rapid Transit Vehicles Market Companies

Major companies operating in the bus rapid transit (BRT) vehicles industry are:

BYD Company Limited
Daimler AG
MAN Truck & Bus AG
Marcopolo S.A.
New Flyer Industries Inc.
Scania AB
Tata Motors Limited
Van Hool NV
Volvo Group
Zhengzhou Yutong Bus Co., Ltd.
Zhongtong Bus Holding Co., Ltd.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of bus rapid transit (BRT) vehicles reached USD 37 billion in 2023 and is set to witness 7.5% CAGR from 2024 to 2032, owing to the increasing population, resulting in traffic congestion, lengthier commuting times, and pressurizing traditional transportation networks worldwide.

The diesel fuel segment held over USD 22 billion in 2023, due to being less expensive to acquire than other fuel sources.

Asia Pacific market recoded around 62% share in 2033, attributed to providing a cost-effective and scalable alternative for transporting large numbers of passengers in the region.

Daimler AG, MAN Truck & Bus AG, Marcopolo S.A., New Flyer Industries Inc., Scania AB, Tata Motors Limited, Van Hool NV, Volvo Group, Zhengzhou Yutong Bus Co., Ltd., and Zhongtong Bus Holding Co., Ltd., are some of the major bus rapid transit (BRT) vehicles companies worldwide.