The Bullet Train/High-Speed Rail Market is projected to grow at a CAGR of 5.54% during the forecast period, to reach 5,287 units by 2025. The need for rapid mass transit to reduce traffic congestion and journey time with enhancing luxury has increased the demand for the bullet train/high-speed rail market globally.
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The wheel on rail technology of bullet train/high-speed rail is expected to have the largest market share owing to its higher adoption rate by the bullet train/high-speed rail manufacturers. The growing expansion of high-speed rail infrastructure in the numerous countries across the regions is creating the need for the wheel on rail technology of bullet train/high-speed rail. The maglev technology of bullet train/high-speed rail is electro-magnetically propelled over the guideways and does not require rail tracks for its operation. This functioning of maglev trains eradicates the friction associated with the wheels and tracks, thereby enhances the operating speed. The development of the maglev technology of bullet train/high-speed rail would act as a catalyst for the growth of bullet train/high-speed rail.
The electric propulsion segment is estimated to be the fastest as well as the largest growing segment, by volume, of the bullet train/high-speed rail during the forecast period. The electric propulsion segment has the largest growth potential in the high-speed/bullet train across geography. It is projected to grow at a promising CAGR from 2018 to 2025. The growing environmental concerns and rising fuel prices have led the demand for energy-efficient transport modes, thereby accelerating the growth of electric-driven high-speed trains. The key players such as Bombardier (Canada), Alstom (France), Siemens (Germany), and Hitachi (Japan) among others offer high-speed trains, which are electrically propelled.
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The freight application of bullet train/high-speed rail is estimated to be the fastest-growing market during the forecast period. This growth is attributed to the consistent advancement in the high-speed rail technology for freight as well as passenger application. The introduction of improved technology in high-speed rail has resulted in the enhanced operational performance of bullet train/high-speed rail. The strong focus on research and development by key players of bullet train/high-speed rail market is anticipated to the growth of freight application of bullet train/high-speed rail in the coming years.
The operational speed range of 300–399 km/h is projected to be the fastest as well as the fastest-growing segment, by speed, in the bullet train/high-speed rail market. The factors such as the growing expansion of HSR lines and increasing demand for enhanced operational speed of high-speed/bullet trains to reduce the journey time are responsible for the growth of this speed range segment. Moreover, the transition of current conventional trains into high-speed/bullet train is boosting the growth of high-speed trains of the speed range of 300–399 km/h.
Critical Questions:
Does electrification of Bullet Train/High-Speed Rail would impact the growth of various rail components?
Does hyperloop technology pose a threat to the Bullet Train/High-Speed Rail Market?
Does North America likely to adopt high-speed rail/bullet rail as an efficient mode of transportation like the Asia Pacific and Europe?
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