The bullet train or high-speed rail global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Bullet Train Or High-Speed Rail Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The bullet train or high-speed rail market size has grown strongly in recent years. It will grow from $39.40 billion in 2023 to $42.82 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to a rise in demand for energy-efficient transport, an increase in allocation of the budget for the development of railways, a growing demand for faster travel and time savings, a rise in popularity of bullet train/high-speed rail, and enhanced comfort and safety.
The bullet train or high-speed rail market size is expected to see strong growth in the next few years. It will grow to $60.35 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to government initiatives and infrastructure investments, an increase in the use of public transport services, a focus on sustainability and environmental concerns, an expansion of the tourism sector, and a rise in industrial & mining activity. Major trends in the forecast period include technological advancements in bullet trains, aerodynamic design, energy-efficient propulsion, advanced braking systems, and active suspension system.
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Scope Of Bullet Train Or High-Speed Rail Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Bullet Train Or High-Speed Rail Market Overview
Market Drivers –
The increase in demand for public transport services is expected to propel the growth of the bullet train or high-speed rail market going forward. Public transport is a system of shared transportation services, including buses, trains, and subways, accessible to the general public for efficient urban and regional mobility. The demand for public transport is due to the need to address urban congestion, environmental concerns, cost-effectiveness, convenience, and changing societal preferences. Bullet trains or high-speed rail (HSR) systems serve as a crucial component of public transport services by providing a fast, efficient, and sustainable means of travel that complements other forms of transportation. For instance, in April 2024, according to the American Public Transportation Association, a US-based nonprofit organizations, the annual public transit ridership was 7.1 billion total trips in 2023, a 16% increase from 2022. Therefore, the demand for public transport services is driving the growth of the bullet train or high-speed rail market.
Market Trends –
Major companies operating in the bullet train or high-speed rail market focus on developing innovative technologies, such as high-speed rail service, that can reduce travel time. High-speed rail (HSR) is a type of passenger rail transport that operates significantly faster than traditional rail systems, using an integrated system of specialized rolling stock and dedicated tracks. For instance, in October 2023, the Indonesian government launched Whoosh, Southeast Asia’s first high-speed railway that can reach speeds up to 350 km/h, cutting travel time from 2-3 hours to 40 minutes. The high-speed rail line is expected to boost connectivity and economic development.
The bullet train or high-speed rail market covered in this report is segmented –
1) By Component: Axle, Wheel set, Converter, Transformer, Traction Motor, Traction System, Pantograph
2) By Propulsion: Diesel, Electric, Dual Power
3) By Speed: 200-299 km/h, 300-399 km/h, 400-499 km/h, Above 500 km/h
4) By Technology: Wheel on Rail, Maglev
5) By Application: Passenger, Freight
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Regional Insights –
Asia-Pacific was the largest region in the bullet train or high-speed rail market in 2023. The regions covered in the bullet train or high-speed rail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the bullet train or high-speed rail market are Hitachi Ltd., Siemens AG, CRRC Corporation Limited, Mitsubishi Heavy Industries Ltd., ABB Ltd., Acciona SA, Thales Group, Alstom SA, Kawasaki Heavy Industries Ltd., Balfour Beatty plc, Ferrovial SE, Knorr-Bremse AG, Bombardier Inc., SACYR SA, Stadler Rail, Hyundai Rotem, Aselsan AS, FCC Construction SA, Škoda Transportation A.S., Talgo
Table of Contents
1. Executive Summary
2. Bullet Train Or High-Speed Rail Market Report Structure
3. Bullet Train Or High-Speed Rail Market Trends And Strategies
4. Bullet Train Or High-Speed Rail Market – Macro Economic Scenario
5. Bullet Train Or High-Speed Rail Market Size And Growth
…..
27. Bullet Train Or High-Speed Rail Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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