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.
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