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High-Speed Railway: Introduction
A high-speed rail, also known as a Bullet Train, is a train for passengers that moves at a speed that is extremely fast. In general, it travels at speeds of 200km/hr. And above. It uses Wheel as well as Maglev Technology for operation. It is in need of mass transport to decrease congestion and reduce travel time. This is the main reason for the development of the Bullet Train/High-Speed Railway Market. Shinkansen - The very first Bullet train was launched by the government of Japan in 1964 and could achieve speeds of 220 km/hr. The year 1977 saw Europe's first Bullet train was officially inaugurated from Florence between Florence and Rome.
There are currently just 16 Nations that are equipped with Bullet Trains; out of them, China has the biggest High-Speed Rail Network of 27000 kilometres. Its Maglev Trains are the new Bullet Trains that can reach up to 603 km/hr. However, they are extremely expensive to build since there are three different commercial Maglev Systems: China, Japan and South Korea. The main use is the transport of Freight and Passenger and will also boost the technological advancement in the country and also attract the investment of foreign investors.
The Global High-Speed Railway Market Forecast:
High-Speed Rail / Bullet Train Market Size was worth 3508.68 Units in 2020 and is expected to grow to 5273.46 units in 2028, and It will be growing at a CAGR of 5.23% from 2021 to 2028.
Greater use of mass-response transport, like the high-speed train network, could help ease traffic congestion and cut down the travel time. It would highlight the need to enhance the city's infrastructure through modifications and installing new trackways for the high-speed trains. In the end, the demand for trains with high speeds is anticipated to grow over the forecast time.
Market Trend and Dynamics of the Global High-Speed Railway Market:
Greater use of mass-response transport, such as trains that are high-speed, could help ease congestion in the traffic and reduce the travel time. It will also highlight the need to enhance the city's infrastructure through modifications and to build new trackways for the high-speed trains. This means that the demand for high-speed train services is anticipated to grow over the forecast time. The increasing need for high-speed technology coupled with the ability to cover large distances in a quick and cost-effective manner is driving the market to new heights.
Another reason behind the market's growth is the increasing government contribution to modernize the railway infrastructure to meet the growing demand for quick transport. In addition, the market's increasing ability to adapt to energy-efficient transportation also contributes to the market's positive outlook. The high cost of running and the large initial investment, however, on the contrary hand hinder the growth of the market. The manufacturers of high-speed trains are investing in expanding in new markets.
Alstom, For instance, Alstom developed Alstom is one of the companies that built the HSR S100, a high-speed railway connecting Madrid to Castellon within Spain. Bombardier has also provided 850 high-speed trains throughout the globe which include the TGV in France as well as the AVE in Spain and the ICE in Germany as well as the ETR in Italy and the CRH1 in China. The high-speed rail system requires enormous capital expenditure, and operating costs are unaffordable to consumers. Countries in the emerging world are more inclined to use high-speed trains that speed up travel, and the growing demand for comfortable transport is a market opportunity.
The Key Market Segmentation of the Global High-Speed Railway Market:
Global High-Speed Railway Market can be divided into Propulsion, Speed, Applications, Technology, Component, Track length and Geographical landscapes, etc.
High-Speed Railway Market Segmentation By Propulsion:
High-Speed Railway Market Segmentation By Speed:
Above 500 km/h
High-Speed Railway Market Segmentation By Application:
High-Speed Railway Market Segmentation By Technology:
Wheel on Rail
High-Speed Railway Market Segmentation By Component:
High-Speed Railway Market Segmentation By Track Length:
High-Speed Railway Market Segmentation By Geographical Landscape:
The Middle East and Africa
Major Key Players in the Global High-Speed Railway Market Are:
Kawasaki Rail Car, Inc.
Mitsubishi Heavy Industries, Ltd.
CAF, Construcciones y Auxiliar de Ferrocarriles, S.A.
CRRC Corporation Limited
The Global High-Speed Railway Market Report Highlights:
Based on speed, the market is divided into 200-299 kmph and other segments. The speed of 300-399 kmph was responsible for a significant share in the overall market. The segment of 300-399 kmph is expected to expand dramatically as a volume because of numerous railway agencies across the world wishing to increase the velocity of their bullet train or high-speed rail fleets to increase the number of rail transportation options.
Based on the application, the market is divided into Freight and Passenger. Because of the greater percentage of adoption and the environmentally-friendly transport that is luxurious and convenient for passengers, the passenger segment holds a greater share than that of freight. In the coming forecast, it is expected to continue its position as the dominant market.
Based on Geography, the Global Bullet Train/High-Speed Rail Market is classified into North America, Europe, Asia Pacific, and the rest of the world. The forecast period in the Asia Pacific is expected to dominate the Bullet Train/High-Speed Rail Market, which will be being followed by Europe along with North America. Developing countries like China And Japan, which have experience high-speed train lines over the last few years, lead the Asia Pacific Market.
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