Global Bullet Train/High-Speed Rail Market, By Propulsion (Diesel, Electric and Dual Power), Speed (200-299 km/h, 300-399 km/h, 400-499 km/h and Above 500 km/h), Application (Passenger and Freight), Technology (Wheel on Rail and Maglev), Component (Axle, Wheel set, Converter, Transformer, Traction Motor, Traction System and Pantograph) – Industry Trends and Forecast to 2029
Market Analysis and Size
Bullet train/high-speed rail is being considered a game-changer for travelers, and also a great competition to air travel. The bullet train is known to have less check-in time, and more leg space along with connectivity which is denied on-board airplanes.
Global Bullet Train/High-Speed Rail Market was valued at USD 99,297.44 million in 2021 and is expected to reach USD 148,958.04 million by 2029, registering a CAGR of 5.20% during the forecast period of 2022-2029. 300-399 km/h accounts for the largest speed segment in the respective market owing to the high preference of various railway authorities across the world. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
Bullet trains are the trains that are capable of transporting the passengers at higher speed and within lesser time frame as compared to conventional or traditional trains. Bullet trains generally work on the principle of maglev and use an integrated system of specialized rolling stock and dedicated tracks. Maglev is the short form to magnetic levitation. The wheels of the bullet trains are electromagnetic in nature.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Forecast Period
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2022 - 2029
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Propulsion (Diesel, Electric and Dual Power), Speed (200-299 km/h, 300-399 km/h, 400-499 km/h and Above 500 km/h), Application (Passenger and Freight), Technology (Wheel on Rail and Maglev), Component (Axle, Wheel set, Converter, Transformer, Traction Motor, Traction System and Pantograph)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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Alstom (France), Siemens Mobility (Germany), ABB (Sweden), Hitachi Ltd. (Canada), TOSHIBA CORPORATION (Japan), Mitsubishi Heavy Industries Ltd. (Japan), Thales Group. (France),, Kawasaki Rail Car, Inc. (US), CRRC Corporation Ltd. (China), Construcciones y Auxiliar de Ferrocarriles, S.A. (Spain), PATENTES TALGO S.L.U. (Bergen), STRUKTON (Germany), HYUNDAI ROTEM COMPANY. (South Korea), and GENERAL ELECTRIC (US), among others
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Market Opportunities
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Bullet Train/High-Speed Rail Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Rise in Popularity of Bullet Train/High-Speed Rail
The surge in demand for bullet train/high-speed rail owing to its ability to cover large geographic distances in a short time acts as one of the major factor driving the growth of bullet train/high-speed rail market. These trains are projected to be operating in nearly 24 countries, such as Japan, China, Italy, Spain, U.S., Germany and France, among others.
- Government Initiatives
The increase in the initiatives taken by government across the world for incorporation of fast trains accelerate the market growth. These trains are considered economical, safe, and a rapid means of transport has a positive impact on the market.
- Tourism Sector
The expansion of tourism sector across the globe further influence the market. The rise in number of tourists and congestion caused by the number escalate the demand for bullet trains. Also, the rise in transportation-related concerns and their environmental impact assists in the expansion of the market.
Additionally, surge in investments, expansion of the automotive sector and increased disposable income positively affect the bullet train/high-speed rail market.
Opportunities
Furthermore, inclination of emerging countries towards high-speed train for rapid transit extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, increase in demand for comfort in transportation escalate the growth of bullet train/high-speed rail market.
Restraints/Challenges faced by the Bullet Train/High-Speed Rail Market
On the other hand, requirement of high capital investment and high operating costs of high-speed rail network are expected to obstruct market growth. Also, difficulties in acquiring land for high-speed train infrastructure are projected to challenge the bullet train/high-speed rail market in the forecast period of 2022-2029.
This bullet train/high-speed rail market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the bullet train/high-speed rail market contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
COVID-19 had a Major Impact on Bullet Train/High-Speed Rail Market
The COVID-19 had a negative impact on the bullet train/high-speed rail market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted the market. The supply chain got hampered during the pandemic along with delay logistics activities. However, the bullet train/high-speed rail market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.
Global Bullet Train/High-Speed Rail Market Scope
The bullet train/high-speed rail market is segmented on the basis of propulsion, speed, application, technology and component. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Propulsion
- Diesel
- Electric
- Dual Power
Speed
- 200-299 km/h
- 300-399 km/h
- 400-499 km/h
- Above 500 km/h
Application
- Passenger
- Freight
Technology
- Wheel on Rail
- Maglev
Component
- Axle
- Wheel set
- Converter
- Transformer
- Traction Motor
- Traction System
- Pantograph
Bullet Train/High-Speed Rail Market Regional Analysis/Insights
The bullet train/high-speed rail market is analyzed and market size insights and trends are provided by country, propulsion, speed, application, technology and component as referenced above.
The countries covered in the bullet train/high-speed rail market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe dominates the bullet train/high-speed rail market because of the increased adoption of eco-friendly transportation mediums within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the prevalence of large railway networks especially in developing countries.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Bullet Train/High-Speed Rail Market Share Analysis
The bullet train/high-speed rail market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to bullet train/high-speed rail market.
Some of the major players operating in the bullet train/high-speed rail market are
- Alstom (France)
- Siemens Mobility (Germany)
- ABB (Sweden)
- Hitachi Ltd. (Canada)
- TOSHIBA CORPORATION (Japan)
- Mitsubishi Heavy Industries Ltd. (Japan)
- Thales Group. (France),
- Kawasaki Rail Car, Inc. (US)
- CRRC Corporation Ltd. (China),
- Construcciones y Auxiliar de Ferrocarriles, S.A. (Spain)
- PATENTES TALGO S.L.U. (Bergen)
- STRUKTON (Germany)
- HYUNDAI ROTEM COMPANY. (South Korea)GENER
- AL ELECTRIC (US)
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