Press release
Hyperloop Technology Market 2018 Global Key Leaders: AECOM, Hyperloop One, Dinclix GroundWorks, TransPod, Space Exploration Technologies
Market Insights
Hyperloop technology is a concept introduced by the prolific Elon Musk. Market Research Future's report on the global hyperloop technology market has revealed highly promising growth during the forecast period of 2022 to 2027. This new form of ground transport has resulted in a highly competitive market due to the race among market players to establish themselves in a premier position in the Hyperloop technology market.
Similar to rail transport, hyperloop has one key difference which makes it revolutionary and drives demand for the technology. Hyperloop technology uses magnetic levitation to reduce friction and allows travel "pods" to travel at high speeds of up to 750mph. Presently airplanes are the fastest mode of transport. However, there is a soaring demand for a faster mode of transport which is cheaper and offers better infrastructure facilities. Hyperloop technology is naturally resistant to natural calamities making it a safer travel option, this driving the demand for the same. Heavy investments in research and development of this technology have greatly added to its increasing value.
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Presently, the lack of awareness and the high cost of implementation of this technology and its infrastructure are expected to impede market growth. However, the rapid development and increasing efforts on the part of prominent market players to increase awareness will likely mitigate the challenges mentioned above.
Latest Industry News
• Hyperloop Transportation Technologies in collaboration with German insurance company Munich Re has set core safety requirements for Ohio to Chicago hyperloop transport system.
• Elon Musk's Boring Company has received approval for the building of a prototype garage which will transport cars to an underground hyperloop.
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.
Market Segmentation
The global hyperloop technology market is segmented on the basis of component, type, and region. By component, the market is segmented into tube, capsule, propulsion system, and station. The propulsion system segment is further segmented to include electromagnetic propulsion and passive magnetic propulsion system.
By type, the market is divided between passenger and freight.
The regional segmentation of the global hyperloop technology market divides it into North America, Europe, Asia Pacific and the Rest of the World.
Regional Analysis
Presently, hyperloop technology is under research and development with no deployments being made in the actual transportation system. Routes are under proposal, and physical development of the market and hyperloop technology is expected to commence in 2022.
The Middle East is a significant region and is expected to lead the market in 2022, due to the fact that the first hyperloop transport system will be made available in the U.A.E with a route being planned from Dubai to Abu Dhabi.
North America is expected to capture the second largest segment of the market due to the present places of setting up transport from Los Angeles to San Francisco in the U.S. The region plans to deploy in 20223.
Meanwhile, Europe and the Asia Pacific are neck and neck in the Hyperloop technology market as deployments in these regions are proposed to be launched by 2024, with prominent players deploying hyperloop transport in various parts of these regions.
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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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