Global Bullet Train or High Speed Rail Market is expected to reach 5,600 Units by 2026 from 3,580 Units in 2017 at CAGR of 5.75%.
Bullet train/High-speed rail market is an advanced railway transport that operates faster than traditional rail traffic. Worldwide, there is no single speed standard to term high-speed rail, new high speed train with speed of 250 kmph and above and existing train with speed of 200 kmph & above are extensively considered to be high-speed rail.
Travel by bullet rail is always the best means of transport for long distance travelling in dense areas or in places where the fuel cost is rather high. High speed trains have proved to be highly fuels efficient per passenger per kilometre. Compare to other vehicles of this kind, they can transport large number of passengers in a quick time. It will be safe transport for businessmen and other commercial people and rich people for travelling with valuable items, money or important documents are the drivers of the bullet train/high speed rail market.
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Some of the restraint factor of the market is most people know of island occupation and environmental damage. Owing to high-speed rail (HSR) always operating at high speed, designers try to avoid curved tracks which can cause accidents when trains or even vehicles operate at high speed.
In the speed of 300-399 km/h for bullet train/high-speed rail is estimated to be the largest as well as the fastest growing market, during the forecast period. This growth is attributed to the inclination of railway authorities of various countries to enhance the speed of high-speed train fleet to improve rail transit modes. As well, expansion of HSR lines is fuelling the demand for enhancing the speed of bullet trains by passengers to reduce the journey time.
By technology, increasing demand for rapid mass transit to reduce traffic congestion is majorly responsible for the estimated growth of the wheel on rail technology. Moreover, the maglev technology is projected to record the fastest growth in the coming years for the bullet train/high-speed rail market. The high adoption rate of the maglev technology in the global bullet train/high-speed rail market is projected to make it the fastest growing segment.
Passenger segment led the bullet train/high speed rail market as compared to the freight segment, due to the higher rate of adoption and eco-friendly transport with high luxury and comfort. The passenger segment is expected to retain its dominant position in the market during the forecast period 2018-2026.
Region-wise, Asia Pacific is expected to be the largest market for global bullet train/high-speed rail. It is projected to hold the largest market share, by volume, in 2018. This can be generally attributed to the demand for high-speed trains for mass transit, thereby increasing the number of high-speed rail projects in the region.
Key players operating in the global bullet train/high speed rail market, hales Group, Alstom S.A., Hitachi Ltd., Bombardier Transportation, Ansaldo STS, SIEMENS AG, Mitsubishi Electric, Talgo, ABB, Toshiba Infrastructure Systems & Solutions Corporation, Kawasaki Rail Car, Inc., CAF, Construcciones y Auxiliar de Ferrocarriles, S.A., Mitsubishi Heavy Industries, Ltd., and CRRC Corporation limited.
Scope of the Global Bullet Train or High Speed Rail Market
Global Bullet Train or High Speed Rail Market, by Propulsion
Global Bullet Train or High Speed Rail Market, by Speed
Above 500 km/h
Global Bullet Train or High Speed Rail Market, by Application
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Global Bullet Train or High Speed Rail Market, by Technology
Global Bullet Train or High Speed Rail Market, by Component
Global Bullet Train or High Speed Rail Market, by Region
Middle East and Africa
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Key players operating in the Global Bullet Train or High Speed Rail Market
Toshiba Infrastructure Systems & Solutions Corporation
Kawasaki Rail Car, Inc.
Construcciones y Auxiliar de Ferrocarriles
Mitsubishi Heavy Industries, Ltd.
CRRC Corporation limited.