Dublin, May 05, 2023 (GLOBE NEWSWIRE) -- The "Bullet Train Market by Speed, Propulsion, Component: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The Bullet Train Market is expected to experience a significant growth rate of 6.27% from 2022-2031 owing to rising number of developments globally.
Key Market Players
- ABB Ltd.
- Siemens AG
- Hitachi Ltd.
- CRRC CORPORATION LIMITED
- Kawasaki Rail Car, Inc.
- Mitsubishi Heavy Industries Ltd.
- Caterpillar Inc.
- Alstom SA
- Thales Group
- CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES, SA
The speed of high-speed rail is greater than that of a regular train, and it moves more quickly than regular rail. These trains can cover a great distance more quickly and cheaply because they run on standard gauge tracks. This is primarily responsible for the rise in demand for bullet trains.
It is expected that increased infrastructure facilities and demand for high-speed bullet trains will reduce traffic congestion and travel times while enabling swift and comfortable transportation.
The demand for safe, secure, and efficient transportation is rising, and the use of public transportation is increasing as a means of reducing traffic jams. These and other factors are driving the growth of the bullet train market.
For instance, in October 2022, The CRRC has introduced the world's fastest public land transport system, a 600 km/h maglev train.
The high-speed linear transportation system, which reaches speeds of 600 km/h, is a"non-contact" high-speed rail vehicle. Adopts a"rail hold" structure in which two rows of curved"arms""hold" the rail. With electrification, the entire train is suspended from the rails by strong magnetic force, realizing non-contact support, guidance, and operation.
The system is not only fast, but also having high security, large capacity, intelligence, and convenience. It is a faster, safer, and more eco-friendly vehicle. The lack of technological infrastructure, skilled labor, and high capital requirements, however, are expected to impede the expansion of the rolling stock market.
More opportunities for the growth of the bullet train market are anticipated to arise from increased bullet train development and testing, improved rail infrastructure, particularly in developing nations, and increased industrial and mining activity.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the bullet train market analysis from 2021 to 2031 to identify the prevailing bullet train market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the bullet train market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global bullet train market trends, key players, market segments, application areas, and market growth strategies.
Market Dynamics
Drivers
- Increase in demand for passenger and freight capacity
- Increase in government spending on construction of railway projects
- Surge in demand for secure, safer, and efficient transport system
Restraints
- Lack of skilled staff and lack of reimbursement in developing countries
- Lack of technology infrastructure and consistency in developing countries
Opportunities
- Improvement in railway infrastructure in developing countries
- Technological advancements in bullet trains by manufacturers
Key Market Segments
By Speed
- 200-299 km/h
- 300-399 km/h
- 400-499 km/h
- Above 500 km/h
By Propulsion
- Diesel
- Electric
- Dual Power
By Component
- Axle
- Wheelset
- Converter
- Transformer
- Traction Motor
- Others
For more information about this report visit https://www.researchandmarkets.com/r/ehnms5
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