PORTLAND, Oregon and PUNE, India, January 31, 2018 /PRNewswire/ --
According to a recent report published by Allied Market Research, titled, "Hyperloop Technology Market by Type and Transportation System: Global Opportunity Analysis and Industry Forecast, 2022-2026," the global hyperloop technology market is estimated to account for $1,350 million in 2022, and is projected to reach at $6,000 million by 2026, growing at a CAGR of 45.2% from 2023 to 2026.
Presently, Asia-Pacific dominates this market. In 2022, China is expected to register the highest growth in Asia-Pacific. Similarly, the UK led the overall market in the European region. Presently, the U.S. is expected to dominate the North American market.
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Upsurge in demand for faster transportation mode has driven the hyperloop technology market growth. Furthermore, low cost of the transportation technology as compared to other transportation modes such as road, water, air, and rail, and its energy-efficient & environment-friendly nature fuel the growth of the market. However, the possibility of technical glitches and shortage of power restrain the market growth.
In 2022, the passenger segment dominated the global hyperloop technology market, in terms of revenue. However, based on transportation system, route is anticipated to dominate the global market, followed by tube in 2022.
KEY FINDINGS OF THE STUDY
- Route system is expected to generate the highest revenue in 2022.
- In 2022, the passenger segment is expected to account for the highest revenue in the market.
- North America is anticipated to exhibit a highest CAGR during the forecast period.
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The key players profiled in the report include AECOM, Dinclix Ground Works, Hyperloop India, Hyperloop One, Inc., Hyperloop Transportation Technology, Space Exploration Technologies Crop., Tesla, Inc., TransPod Inc., Uwashington Hyperloop, and VicHyper.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research