DUBLIN–(BUSINESS WIRE)–The “Bullet Train / High-Speed Rail – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Bullet Train / High-Speed Rail Market to Reach 7.6 Thousand Units by the Year 2026
Amid the COVID-19 crisis, the global market for Bullet Train / High-Speed Rail estimated at 6.1 Thousand Units in the year 2022, is projected to reach a revised size of 7.6 Thousand Units by 2026, growing at a CAGR of 5.3% over the analysis period.
Growth in the global market is set to be driven by rising adoption of mass rapid transit coupled with the need to expedite journey time and ease traffic congestion. The significant growth potential is led by attributes such as transport efficiency, high safety and security levels, high level of reliability and environmental friendliness.
The global market is set to receive a noteworthy impetus from increasing public expenditure to develop rail transport network, unabated surge in passenger traffic and attractive incentives associated with the use of energy-efficient rail. Factors such as increasing construction activities and rapid urbanization are paving way for connectivity between urban and rural or semi-urban areas, which is bound to present new growth avenues for the market. Bullet train/high-speed rail is likely to also benefit from rapid industrialization and the resulting spike in logistics along with ongoing technological advancements to improve safety and reliability of these trains.
In the recent years, various countries have started emphasizing on mass rapid transit like high-speed trains to reduce journey time and traffic congestion. The requirement is prompting governments to develop the city infrastructure by laying new tracks to support high-speed trains.
The total number of countries with bullet train/high-speed rail is estimated to increase notably in the coming years, including the US, Spain, Germany, Italy, France, Japan and China. Countries like Japan, Spain, France, Germany and China have revolutionized public transportation through implementation of an extensive high-speed train network that has played an important role in significantly expediting the journey time. On the flip side, high construction, operating and maintenance costs associated with bullet train/high-speed rail continue to hinder overall expansion of the market, particularly in developing and underdeveloped nations.
Electric, one of the segments analyzed in the report, is projected to grow at a 5.4% CAGR to reach 7.2 Thousand Units by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Other Propulsion Types segment is readjusted to a revised 4% CAGR for the next 7-year period.
Electric railways are used either for electric locomotives for hauling freight or passengers in separate railcars, or electric multiple units (EMUs) comprising electrically-powered carriages, or both. Electrically-powered locomotives are also typically more reliable, responsive, powerful, and quieter as compared to their diesel-based counterparts. The power for electric railways can be generated from a wide range of energy sources, including renewable resources, making them more efficient than a diesel engine as well as reducing the reliance on petroleum.
The U.S. Market is Estimated at 52 Units in 2022, While China is Forecast to Reach 3.7 Thousand Units by 2026
The Bullet Train / High-Speed Rail market in the U.S. is estimated at 52 Units in the year 2022. The country currently accounts for a 0.9% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of 3.7 Thousand Units in the year 2026 trailing a CAGR of 4.6% through the analysis period.
Among the other noteworthy geographic markets are Japan and Europe, each forecast to grow at 4% and 5.7% respectively over the analysis period.
Within Europe, Germany is forecast to grow at approximately 5.1% CAGR over the analysis period. Around 20 nations have high-speed railways with China featuring the world’s longest network of 35,000km of such tracks. The Chinese government aims to bridge the long distance routes between production areas and key logistics sites by high-speed rail, which offers a safer, more sustainable and low-energy consuming transportation medium.
China National Railways has been operating over 9,600 high-speed trains each day by late 2020. These trains included the only high-speed overnight sleeper services in the world. Europe is a major high-speed rail market and is anticipated to continue expanding, driven by long-term plan of the European Commission to expand the high-speed rail lines length from 9,700 km to 30,750 km by 2030.
Among the European countries, Spain has the longest network of high-speed railways (AVE, Alta Velocidad Espanola). The nation ranks next to China as the second longest high speed rail network in the world with over with over 3200km of track.
What’s New for 2022?
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS (Total 38 Featured)
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/137lad.
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