Press release
Hyper loop Technology Market 2018 Global Leaders Analysis: Arrivo, Virgin Hyperloop One, Zeleros, Hyper Chariot, Hardt Global Mobility, TransPod, Space Exploration Technologies
Market Synopsis of Global Hyper loop Technology Market:
A Hyperloop is a proposed high speed as well as hazard and environment resistant mode of passenger drawing heavily on Robert Goddard’s vactrain design. Hyperloop has attracted attention after Elon Musk revealed plans for such a system which was published in August 2013. Hyper loop is a series of interconnected vacuum tubes complete with electromagnetic motors, and air bearings providing reasonable protection from natural disasters. The travel takes place in pressurized capsules driven by linear induction motors and air compressors. The global hyper loop technology market is estimated to peak approximately USD 2 billion by the end of forecast period of 2023.
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Market Dynamics of Global Hyper loop Technology Market:
Drivers
• Rising demand for fast, convenient, safer and cheaper mode of transportation. The speed proposed for hyperloop technologies is 600 mph, with a top speed of 760 mph which is a huge improvement over the current speeds attained by speed trains
• Increasing travel and high air travel costs
• Improvements in infrastructure, smart cities, analytics and automation
• Increasing urbanization, industrialization and rising incomes
• Greater efficiency and speed due to frictionless travel on account of lack of air resistance
Restraints
• Huge construction costs and maintenance expenses
• High development costs and risks. However open sourcing technology using the open development business model as proposed by Musk and SpaceX is expected to reduce the development times and costs
• Skepticism and the nascent stage of development of the technology. Many experts have claimed that Hyperloop is very susceptible to power disruption and terror attacks. A few companies and research teams are working to advance the technology. Forefront among them is SpaceX which built a 1-mile-long prototype track for testing at its California, headquarters.
• There is also a threat that the project will exceed the budget, not to mention development and operation costs.
• Competition from other modes of transport such as air transport and speed trains which have a proven track record. Air transport also does not require a direct connection. Thus traversing oceans will involve huge additional costs making the hyperloop transport prohibitively expensive.
Key Players:
The prominent players in the market of hyperloop technology are- Space Exploration Technologies Corporation (U.S.), Virgin Hyperloop One (U.S.), Hyperloop Transportation Technologies (U.S.), TransPod (Canada), Dinclix GroundWorks Global Limited (India), Arrivo (U.S.), Hardt Global Mobility (The Netherlands), Hyper Chariot (U.S.), Zeleros (Spain).
Segmentation
• By Component, the market is segmented into the capsule, tube, a propulsion system (electromagnetic propulsion and passive magnetic propulsion system) and Station.
• By type, the market is segmented into passenger and freight.
• On the basis of region, the market is segmented into North America, Europe, Asia Pacific and rest of the world.
Regional analysis
The global market for hyperloop technology is estimated to grow at a significant rate during the forecast period from 2022 to 2027. The geographical analysis of hyperloop technology market is studied for North America, Europe (including Russia), Asia Pacific (including Australia and New Zealand), and the rest of the world (including the Middle East, Africa, and Southern America). At present, there are no deployments made in the actual transportation system. However, there have been many routes proposed for Hyperloop technology from the year 2022. Among those proposed routes are, the United States, India, UAE, Slovakia, Belgium, Canada, Sweden, China, Norway and other European Countries.
The first Hyperloop transportation will be deployed in the route of Dubai to Abu Dhabi. This would cover a distance of nearly 160 Km in about 12 minutes. As per the total investments in the Hyperloop technology market, The Middle East will lead the market, in 2022. Following the Middle East, the U.S. is expected to capture the second spot, with its project of Los Angeles to San Francisco which is expected to be deployed by 2023. The government’s approval towards the growth of hyperloop technology is a predominant factor fuelling market development. Further, the capital investments will also contribute a significant role in the growth of hyperloop technology.
The Hyperloop technology market in Europe will be in a close competition with Asia Pacific as there are various countries such as Belgium, Sweden, and Slovakia planning to deploy Hyperloop projects in various countries. The prominent companies like Virgin Hyperloop One will deploy its project in Mumbai Pune route, whereas an Indian origin company DGWHyperloop will deploy country’s first Hyperloop transportation in Andhra Pradesh by 2024.
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Intended Audience
• Hyperloop Technology manufacturers
• Component suppliers
• OEM
• Component distributors
• Software providers
• Testing & Engineering Firms
• Government Bodies
• Capital investors
• Research Firms
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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.
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