The global high-speed rail market is anticipated to grow at a significant CAGR of 6.1% during the forecast period (2022-2028).High-speed rail is faster than standard rail and gives a more thrilling ride than a regular train. These trains run on standard gauge lines, which allow them to travel a greater distance in less time and at a lower cost. This is the primary driver of increased demand for high-speed trains. Increased infrastructural developments and demand for high-speed bullet trains are expected to minimize traffic congestion and travel time while offering comfortable and quick transportation between distinct locations. Rail facilities have been upgraded as a result of ongoing infrastructure and technical developments, either by privatizing or rebuilding certain stations. Governments, on the other hand, are attempting to enhance existing railways in order to meet the need for speedy transportation.
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The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance-
- In December 2021, the Ministry of Railways of India announced the beginning of seven new bullet train projects, including one connecting New Delhi and Ayodhya, in addition to the Mumbai-Ahmedabad High-Speed Railway Project.
- In December 2021, China has officially started operating a new high-speed railway line in Shandong province that allows trains to travel at 350 km/h.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Technology
- By Application
- By Component
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Bombardier Inc., Alstom SA, Siemens AG, Hitachi, Ltd., and ABB Ltd., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global High-Speed Rail Market Report by Segment
By Technology
- Wheel-on-Rail
- Maglev
By Application
- Freight
- Passenger
By Component
- Axle
- Converter
- Traction Motor
- Transformer
- Wheel Set
- Others
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