According to a recent market study published by Growth Market Reports, titled, “Global High-Speed Rail Market by Propulsion, by Speed, by Application, by Technology and by Region: Size, Share, Trends and Opportunity Analysis, 2022-2030”, the market was valued at US$ 2,986.3 Million in 2021.

High-speed rail travel is faster than traditional rail transport and provides a more thrilling experience than a regular train. These trains run on standard gauge tracks, allowing them to cover a large distance in less time and at a lower cost. This is the primary driver of the increase in demand for bullet trains. The expansion of infrastructure and the demand for high-speed bullet trains are expected to reduce traffic. Congestion and travel time are reduced while providing comfortable and quick movement from one location to another. High-speed rail (HSR) refers to trains that travel at 125 mph, with fast modern trains reaching speeds of around 220 mph.

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The high-speed rail market has been fragmented based on propulsion, speed, application, and technology. By propulsion, the global high-speed rail market is categorized as Diesel and Electric. In terms of speed, the market is categorized into 200-299 km/h, 300-399 km/h, 400-499 km/h, above 500 km/h, by application the market is segmented into passenger and freight. Based on technology the market is divided into Wheel on Rail and Maglev. Considering regions, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

The Coronavirus disease 2019 (COVID-19) pandemic highlighted economic disparities, global interdependence, and governance challenges of various nations. The spread of the disease halted a huge number of pediatric epiphysiodesis surgery, economies reduced costs, and struggling with new measures to tackle and overcome the virus. The COVID-19 pandemic caused a slight slowdown in global high-speed rail market expansion as many countries have stopped train facilities due to an increase in COVID-19 patients in their countries this led to a decline in the global economy. Once these sectors have recovered from the pandemic's effects, the market for other end-user is likely to restore its growth rate.

As per growth market reports by industry analyst Sumitra Choudhary, “The expanding automotive industry and technological advancements and launch of various new upcoming projects are expected to contribute to the growth of the global high-speed rail market. High-speed rail has become one of the most popular transport due to its high speed and short travel time. These factors are anticipated to boost market growth during the forecast period.

Key Takeaways from the Study:

  • The players in the high-speed rail market include Alstom, ABB, CAF, Construcciones, Auxiliar de Ferrocarriles, S.A., Kawasaki Heavy Industries, Ltd., CRRC Corporation Limited held a major market share of the High-Speed Rail market in the year 2021.
  • Increase in innovations and technological advancements and the rise in demand for energy-efficient transport is expected to drive the global high-speed rail market
  • In terms of propulsion, the Global High-Speed Rail Market is categorized as diesel and electric. The demand for electric high-speed rail is more significant than diesel, as it is faster. In addition, favorable government initiatives in various countries are promoting energy-efficient transportation, which in turn, is boosting the electric segment and it is estimated to expand at a significant CAGR during the forecast period.
  • On the basis of Speed, the market is fragmented into 200-299 km/h, 300-399 km/h, 400-499 km/h, and above 500 km/h. The 300-399 km/h segment is expected to expand at a rapid pace owing to the preference for high-speed bullet train/high-speed rail fleet among various railway authorities across the globe in order to boost rail transit modes.
  • On the basis of Application, the market is fragmented into passenger and freight. The passenger segment is expected to hold a larger share of the market in 2021 than the freight segment, due to the high rate of adoption and eco-friendly transport with high comfort and luxury. The segment is expected to expand at a rapid pace during the forecast period.
  • In terms of technology, the high-speed rail market is segmented into wheel-on-rail and maglev. The wheel-on-rail segment is estimated to hold the largest share of the market during the forecast period. Increasing demand for high-speed mass transit to relieve traffic congestion is fuel the wheel-on-rail technology segment. Additionally, improvements in high-speed trains are driving the wheel-on-rail segments.
  • In terms of regions, the Global Pediatric Epiphysiodesis Markets are divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific holds a dominant share of the high-speed rail market, due to the market in China being expected to expand at a rapid pace during the projected period, owing to the presence of many key manufacturers in the country. Additionally, the market in Japan is projected to grow rapidly during the forecast period, due to increasing technological advancements, which is expected to develop airborne maglev trains in the field of developing high-speed rail. The maglev train, which can reach speeds of up to 603 kilometers per hour, is being tested and does not use conventional wheels to drive on rails.

Report Scope:

Report Metric

Details

Market Value in 2021

US$ 2,986.3 Billion

Historical Data

2015 & 2030

Base Year

2021

Forecast Period

2022 – 2030

Units Considered

Value (US$ Million), Volume (Units)

Market Segments

By Propulsion, By Speed, By Technology, By Passenger, and By region

Key Companies Profiled

Alstom, ABB, CAF, Construcciones y Auxiliar de Ferrocarriles, S.A., Kawasaki Heavy Industries, Ltd., CRRC Corporation Limited and Others.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply Side: Manufacturers and OEM’s
  • Demand Side: Government Agency and Private-funded Organization
  • Regulatory Side: Concerned government authorities, and other approved regulatory bodies.