Maglev Train Market to Double by 2035, Reaching $5.6 Billion : Forecast and Growth Analysis

According to a new report published by Allied Market Research, titled, "Maglev Train Market," 𝐓𝐡𝐞 𝐦𝐚𝐠𝐥𝐞𝐯 𝐭𝐫𝐚𝐢𝐧 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐛𝐞 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟐.𝟕 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟓, 𝐚𝐧𝐝 𝐢𝐬 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟓.𝟔 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟓, 𝐠𝐫𝐨𝐰𝐢𝐧𝐠 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟕.𝟒% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟓 𝐭𝐨 𝟐𝟎𝟑𝟓.

The concept of maglev train is typically attributed to the transportation option that uses an electromagnetic propulsion technology on both the tracks and the train itself. This levitation greatly reduces friction, potentially allowing the train to move faster and consume less power due to better acceleration, traction, and braking system. Maglev train systems have several benefits over conventional rail transportation systems as they produce no air pollution during operation, because no fuel is being burned, and the absence of friction makes the trains very quiet (both within and outside the cars) and provides a very smooth ride for passengers. Hence, maglev technology is considered an environment-friendly system of travel. Governments of developing countries are investing significantly to meet the latest technology setups required for maglev trains. For instance, in China, the Zhejiang provincial government announced in April 2020 to build a maglev train connecting Shanghai with Ningbo via Hangzhou. Moreover, in September 2020, Bharat Heavy Electricals Limited (BHEL) signed a memorandum of understanding (MoU) with SwissRapide AG to develop maglev train infrastructure in India.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/A09096

In addition, the maglev train market has witnessed significant growth in recent years, owing to rise in level of safety offered by the maglev trains, surge in harmful emissions from the vehicles, growth & expansion of high-speed railway corridor, and growth in number of tests of prototypes. Furthermore, companies operating in the maglev train market have adopted partnerships, investments, and product launches to increase their market share and expand their geographical presence. For instance, in June 2021, Max Bögl Group launched its Transrapid, a high-speed maglev train after working for several years. The engine of this train is rolled out as a copper cable over the entire route and is fully automated and completely integrated into the vehicles and the stretch of track.

The factors such as rise in demand for secure, safer, and efficient transport system, increase in allocation of budget for development of railways, and rise in use of public transport services as a solution to minimize traffic congestion supplement the growth of the maglev train market. However, high capital requirement and refurbishment of existing rails are the factors expected to hamper the growth of the market. In addition, improvement in railway infrastructure in developing countries and increase in development & testing of maglev trains creates opportunities for the key players operating in the maglev train market.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/maglev-train-market/purchase-options

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

The COVID-19 crisis created uncertainty in the maglev train market. Governments of different regions announced total lockdown and temporarily shutdown of industries, thereby adversely affecting the overall production and sales. Following the directions of the World Health Organization (WHO) for minimizing the spread of the virus, governments of various countries have set up lockdown and trade restrictions, which has disrupted the exports, especially from China, causing large scale manufacturing interruptions across Europe, and the closure of assembly plants in the U.S. The situation introduced intense pressure on the rolling stock industry. The railway department has shut down all the passenger train services and has limited its freight transport services with a reduction in demand for commodities and disturbed supply chain. In addition, the leading market players are taking various measures to deal with the negative effects of the outbreak of COVID-19. For instance, in 2020, Japan revealed its plans to conduct tests of a new prototype maglev train. Further, government authorities, and operators are expected to accelerate and resume maglev projects which were halted and expansion of the rail network after pandemic, which is anticipated to positively affect the growth of the maglev train industry in post pandemic situation.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

By type, the normal conducting magnetic levitation segment dominated the global maglev train market in terms of growth rate.

By technology, the inductrack system (permanent magnet passive suspension) segment dominated the global maglev train market in terms of growth rate.

By application, the freight segment dominated the global maglev train market in terms of growth rate.

By top speed, the high segment dominated the global maglev train market in terms of growth rate.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/A09096

The leading players operating in the maglev train market are 𝐀𝐠𝐢𝐥𝐞 𝐒𝐞𝐭𝐮 𝐌𝐨𝐛𝐢𝐥𝐢𝐭𝐲 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐋𝐢𝐦𝐢𝐭𝐞𝐝, 𝐀𝐥𝐬𝐭𝐨𝐦, 𝐀𝐦𝐞𝐫𝐢𝐜𝐚𝐧 𝐌𝐚𝐠𝐥𝐞𝐯 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐈𝐧𝐜., 𝐁𝐡𝐚𝐫𝐚𝐭 𝐇𝐞𝐚𝐯𝐲 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜𝐚𝐥𝐬 𝐋𝐭𝐝, 𝐂𝐞𝐧𝐭𝐫𝐚𝐥 𝐉𝐚𝐩𝐚𝐧 𝐑𝐚𝐢𝐥𝐰𝐚𝐲 𝐂𝐨𝐦𝐩𝐚𝐧𝐲, 𝐂𝐑𝐑𝐂 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧 𝐋𝐢𝐦𝐢𝐭𝐞𝐝, 𝐄𝐚𝐬𝐭 𝐉𝐚𝐩𝐚𝐧 𝐑𝐚𝐢𝐥𝐰𝐚𝐲 𝐂𝐨𝐦𝐩𝐚𝐧𝐲, 𝐇𝐢𝐭𝐚𝐜𝐡𝐢 𝐋𝐭𝐝., 𝐇𝐲𝐮𝐧𝐝𝐚𝐢 𝐑𝐨𝐭𝐞𝐦 𝐂𝐨𝐦𝐩𝐚𝐧𝐲, 𝐈𝐇𝐈 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐌𝐚𝐱 𝐁ö𝐠𝐥, 𝐌𝐞𝐝𝐡𝐚 𝐒𝐞𝐫𝐯𝐨 𝐃𝐫𝐢𝐯𝐞𝐬 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐋𝐢𝐦𝐢𝐭𝐞𝐝, 𝐌𝐢𝐭𝐬𝐮𝐛𝐢𝐬𝐡𝐢 𝐇𝐞𝐚𝐯𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬 𝐋𝐭𝐝, 𝐍𝐨𝐫𝐭𝐡𝐞𝐚𝐬𝐭 𝐌𝐚𝐠𝐥𝐞𝐯, 𝐒𝐡𝐚𝐧𝐠𝐡𝐚𝐢 𝐌𝐚𝐠𝐥𝐞𝐯 𝐓𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭𝐚𝐭𝐢𝐨𝐧 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 𝐂𝐨., 𝐋𝐭𝐝., 𝐒𝐰𝐢𝐬𝐬𝐑𝐚𝐩𝐢𝐝𝐞 𝐀𝐆, 𝐚𝐧𝐝 𝐖𝐒𝐏.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

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Railway System Market : https://www.alliedmarketresearch.com/railway-system-market-A05987

Railway Signaling System Market : https://www.alliedmarketresearch.com/railway-signaling-system-market-A08785

Railway Cybersecurity Market : https://www.alliedmarketresearch.com/railway-cybersecurity-market-A12189

Railway Traction Motor Market : https://www.alliedmarketresearch.com/railway-traction-motor-market

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