PUNE, India, March 26, 2018 /PRNewswire/ --
According to a new market research report "Bullet Train/High-Speed Rail Market by Speed in Km/H (200-299, 300-399, Above 400), Track Length, Technology, Application, Propulsion (Electric & Dual), Component (Axle, Transformer, Traction Motor, Traction System), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the market 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.
Browse 58 market data Tables and 78 Figures spread through 172 Pages and in-depth TOC on "Bullet Train/High-Speed Rail Market'’
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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 be the largest growing market in the Bullet Train/High-Speed Rail Market during the forecast period, by technology
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.
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The passenger segment is estimated to be the largest market in the Bullet Train/High-Speed Rail Market during the forecast period, by application type
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 for the growth of the passenger segment of the Bullet Train/High-Speed Rail Market. Technological advancements in the high-speed rail industry is anticipated to push the growth of the freight segment of the Bullet Train/High-Speed Rail Market.
Europe is one of the leading regional markets for 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 the Bullet Train/High-Speed Rail 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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