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Global bullet train/high-speed rail market worth 5,287 units by 2025
Industry News- Mar 27,18
The bullet train/high-speed rail market globally is estimated to be 3,626 units in 2018 and is projected to reach a market size of 5,287 units by 2025, growing at a CAGR of 5.54% during the forecast period.
The bullet train/high-speed rail market globally is estimated to be 3,626 units in 2018 and is projected to reach a market size of 5,287 units by 2025, growing at a CAGR of 5.54% during the forecast period. The market is driven by factors such as the need for rapid mass transit to reduce traffic congestion and journey time coupled with the demand for energy-efficient transport.
The wheel on rail technology segment is estimated to witness the fastest growth in the bullet train/high-speed rail market due to the rising demand for high-speed rail to avert the fatigue associated with alternate modes of transport such as roadways and airways. The exponential rise in high-speed rail ridership in the countries such as China and France has fueled the growth of the bullet train/high-speed rail market. Also, the enhancement of current functional trains in high-speed operation is boosting the growth of the wheel on rail technology of bullet train/high-speed rail.
The passenger segment is estimated to be the largest market segment, by volume, of the high-speed/bullet train market during the forecast period. The freight segment follows the passenger segment during the forecast period. The growing demand for eco-friendly transport with high luxury and comfort is attributed to the growth of the passenger segment of the bullet train/high-speed rail market. Technological advancements in the high-speed rail industry are anticipated to push the growth of the freight segment of the bullet train/high-speed rail market.
Europe is projected to be the second fastest growing bullet train/high-speed rail market by 2025. The market growth in the region can be attributed to the rising demand for energy-efficient transport coupled with enhanced comfort and safety in the transit system. Moreover, the consistent increase in passengers in high-speed rail is boosting the demand for high-speed trains. These factors are expected to trigger the growth of the bullet train/high-speed rail market in the region.
The key players in this Market include Bombardier (Canada), Alstom (France), Siemens (Germany), Hitachi (Japan), ABB (Switzerland), Talgo (Spain), CAF (Spain), Kawasaki (Japan), Toshiba (Japan), CRRC (China), and Mitsubishi (Japan).
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