Bullet train/High-speed rail is an advanced railway transport that operates faster than traditional rail traffic. Globally, there is no single speed standard to term high-speed rail, new high speed train with speed of 250 kmph & above and existing train with speed of 200 kmph & above are widely considered to be high-speed rail. Bullet train/High-speed rail uses an integrated system of specialized rolling stock and dedicated tracks to achieve high speed. Bullet train/High-speed rail works on the maglev principle. Maglev is short for magnetic levitation, which means that these trains are expected to float over a guideway using the basic principles of magnets to replace the old steel wheel and track trains.
Increase in demand for bullet train/high-speed rail is largely due to its accuracy and ability to cover large geographic distances in a short time. This is expected to be a prime factor driving the bullet train/high-speed rail market during the forecast period. Increasing government support across the world for incorporation of fast trains, as they are economical, safe, and a rapid means of transport, is expected to boost the bullet train/high-speed rail market during the forecast period. By 2018, high-speed trains are expected to be operating in nearly 24 countries, including China, Japan, France, Italy, Germany, Spain, and the U.S., up from only 19 countries presently.
Research across the world has revealed that the number of countries incorporating the bullet train/high-speed rail is expected to nearly double over the next few years. Bullet train/high-speed rail is expected to incorporate sophisticated technologies to augment safety operation due to advancements and progression in automation in the railway industry. This, in turn, is projected to make the trains more reliable and is expected to lead to a reduction of both cost of travel and travel time. These benefits are likely to provide lucrative opportunities to the bullet train/high-speed rail market. Higher construction and maintenance cost of high speed rail tracks is expected to hamper the bullet train/high-speed rail market, especially in underdeveloped or developing countries.
The bullet train/high-speed rail market can be segment based on engine type, speed, application, technology, and region. Based on engine type, the bullet train/high-speed rail market can be bifurcated into diesel, electric, and other segments. In terms of engine type, the electric segment accounted for a major share of the market. This is owing to its economical and energy-efficient operation.
Based on speed, the bullet train/ high-speed rail market can be classified into 200-299 kmph, 300-399 kmph, and other segments. The 300-399 kmph segment accounted for a prominent share of the market. In terms of volume, 300-399 kmph segment is expected to expand at a rapid pace due to the preference of various railway authorities across the world to enhance the speed of bullet train/high-speed rail fleet in order to boost rail transit modes.
Based on application, the bullet train/ high-speed rail market can be segregated into passenger and freight. The passenger segment holds a prominent share of the market, as compared to the freight segment, owing 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.
In terms of technology, the bullet train/ high-speed rail market can be divided into maglev and wheel on rail. The wheel on rail segment is expected to expand at a significant growth rate, as compared to the maglev segment. This is due to the embellishment of current functional trains in high-speed operation is fueling the wheel on rail segment.
Based on geography, the bullet train/ high-speed rail market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe accounts for a significant share of the global bullet train/ high-speed rail market, owing to the high rate of adoption and demand for eco-friendly transportation in the region, especially in France, Germany, Spain, and Portugal. The market in Asia Pacific is expected to expand at a prominent growth rate owing to advancements in railways transportation, especially in China, Japan, and South Korea. Japan was the first country to employ bullet train/ high-speed rail. Rising demand for high speed train in this region is expected to boost the bullet train/ high-speed rail market.
Prominent players operating in the global bullet train/ high-speed rail market include Thales 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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.