Transparency Market Research in its new report titled, “Bullet Train/High-Speed Rail Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the bullet train/high-speed rail market. The new report ascribes the increase in demand for bullet train/high-speed rail to its accuracy and ability to cover large geographic distances in a short time. This is expected to be a prime factor driving the bullet train/high-speed rail market during the forecast period i.e, 2018-2026, says the report.
Increasing government support across the world for incorporation of fast trains, as they are economical, safe, and a rapid means of transport, is expected to boost the bullet train/high-speed rail market during the forecast period. The bullet train/high-speed rail market can be segment based on engine type, speed, application, technology, and region. Based on engine type, the bullet train/high-speed rail market can be bifurcated into diesel, electric, and other segments. In terms of engine type, the electric segment accounted for a major share of the market.
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In terms of application, the report has split the bullet train/ high-speed rail market into passenger and freight. The passenger segment holds a prominent share of the market, as compared to the freight segment, owing to the higher rate of adoption and eco-friendly transport with high luxury and comfort. The passenger segment is expected to retain its dominant position in the market during the forecast period. Based on technology, the bullet train/ high-speed rail market is bifurcated into maglev and wheel on rail. The wheel on rail segment is expected to expand at a significant growth rate, as compared to the maglev segment. This is credited to the embellishment of current functional trains in high-speed operation that is fueling the wheel on rail segment.
On the basis of regional perspective, the report has categorized the bullet train/ high-speed rail market into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe accounts for a significant share of the global bullet train/ high-speed rail market, owing to the high rate of adoption and demand for eco-friendly transportation in the region, especially in France, Germany, Spain, and Portugal. The market in Asia Pacific is expected to expand at a prominent growth rate owing to advancements in railways transportation, especially in China, Japan, and South Korea. Japan was the first country to employ bullet train/ high-speed rail. Increasing demand for high speed train in this region is expected to boost the bullet train/ high-speed rail market, says the report.
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