Press release
Hyper loop Technology Market 2018 Global Leaders: TransPod, Hyperloop One, Hyperloop Transportation Technologies, AECOM, Dinclix GroundWorks, Space Exploration Technologies
Market Research Future published a research report on “Global Hyper loop Technology Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.Market synopsis
The hyperloop technology was based on the concept of Elon Musk who experimented with a paper traveling in the vacuumed space. The concepts and idea of Elon Musk took the transportation industry by storm in nearly five years, the investments and constructions started to build up. One of the major factor contributing to the growth of Hyperloop technology market is the rising demand for a fast mode of transportation. Although airplanes are by far the fastest mode of commercial transport, the rising technology advancement in transportation leads to the development of the even faster mode of transportation. Along with the faster mode of transportation, the increasing demand for cheaper transportation, better infrastructure facilities and safer transportation from natural calamities.
Another major factor driving the market growth is the growing industrialization. Hyperloop technology is resistant towards natural calamities, providing the users with a trust of more safety, cheaper transportation and time-saving. However, there are certain factors such as lack of awareness, issues related to security, and higher cost of implementation hinder the market growth.
Hyperloop Technology has embarked many projects within a few years of idea generation. In June 2017, Hyperloop Transportation Technologies signed an agreement with the Korea Institute of Civil Engineering and Building Technology (KICT) and Hanyang University to develop a full-scale hyperloop system which will be known as the HyperTube Express within Korea. This has led transportation industry to evolve with the technology providing the customers with the efficient and advantageous transportation system. Growing urbanization, industrialization, automation and increased travel times have been the key factors for market growth.
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Industry/ Innovation/ Related News:
• June 2017 –Hyper loop Transportation technologies an American research company signs an agreement with the Korea Institute of Civil Engineering and Building Technology (KICT) and Hanyang University to develop a full scale hyper loop system known as the Hyper Tube Express within Korea.
• January, 2017 – AECOM had selected to design and build hyper loop test track as part of the SpaceX Hyper loop Pod competitions. The company is delivering high-speed transport which uses a network of low-pressure tubes and air-cushioned pods traveling. Company is manufacturing vacuum-sealed, high-speed proving ground for transport pod prototypes which is widely used in transportation system.
• Nov 08, 2016 – Hyper loop one had taken a major steps towards future of transportation industries in Dubai. The company went into agreement with McKinsey & Co. and the Bjarke Ingels Group (BIG) to move towards next stage of progress in Dubai.
Key Players:
The key players in the global hyper loop technology market include- AECOM (U.S.), Hyperloop Transportation Technologies (US), Hyperloop One (US), Dinclix GroundWorks (India), TransPod Inc. (Canada) and Space Exploration Technologies Corp (U.S.) among others.
Segments
For the purpose of this study, Market Research Future has segmented the market of hyper loop technology into component, type, application and region.
Type-
• Passenger
• Freight
Component-
• Capsule
• Tube
• Propulsion
• Others
Application-
• Railways
• Aircraft
• Other
Region
• North-America
• Europe
• Asia-Pacific
• RoW
Market Research Future Analysis
The global hyper loop technology market is expected to grow at a fast pace over the forecast period, 2017-2023. Passenger mode of transportation segment of hyper loop technology is expected to globally drive the market. The market is expected to have higher growth rate over the forecast period, 2017-2023. Middle East region expected to grow at a fast pace over the forecast period, 2017-2023. Countries such as Dubai is expected to grow by 2023. The first hyperloop route is expected to be built between Dubai and Abu Dhabi. The reason is attributed to the ongoing development in the construction of hyperloop routes in various regions. Furthermore, high capital investment and support from government is estimated to boost the overall growth of the market.
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Intended Audience
• Manufacturers
• Distributors
• Research firms
• Consultancy firms
• Software Developers
• Vendors
• Semiconductor Manufacturers
• End-user sectors
• Technology Investors
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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