Press release
The Bullet Train Market Reach USD 77.57 Billion by 2031 Growing at 6.27% CAGR
According to the report published by Allied Market Research, The Bullet Train Market Reach USD 77.57 Billion by 2031 Growing at 6.27% CAGR. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.An increase in the allocation of the budget for the development of railways, a rise in demand for secure, safer, & efficient transport, and an increase in the use of public transport services as a solution to minimize traffic congestions drive the growth of the bullet train market. However, high capital requirements and a lack of skilled labor and technology infrastructure are anticipated to hamper the growth of the bullet train market. Further, an increase in the development & testing of the bullet train, improvement in railway infrastructure, particularly in developing countries, and a rise in industrial & mining activity is expected to create numerous opportunities for bullet train market expansion.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ (๐๐๐ญ ๐ ๐ฎ๐ฅ๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ข๐ง ๐๐๐ - 246 ๐๐๐ ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/request-sample/A08779
The global bullet train market size was valued at $42.5 billion in 2021, and is projected to reach $77.6 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.
The bullet train market is segmented on the basis of speed, propulsion, component, and region. By speed, it is divided into 200-299 km/h, 300-399 km/h, 400-499 km/h, and above 500 km/h. By propulsion, it is classified into diesel, electric, and dual power. By component, it is categorized into axle, wheelset, converter, transformer, traction motor, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and MEA.
๐๐๐๐๐ฌ๐ฌ ๐ญ๐ก๐ ๐๐ฎ๐ฅ๐ฅ ๐ฌ๐ฎ๐ฆ๐ฆ๐๐ซ๐ฒ ๐๐ญ : https://www.alliedmarketresearch.com/high-speed-rail-market-A08779
Based on technology, the electric segment held the highest market share in 2021, accounting for nearly one-third of the global bullet train market, and is estimated to maintain its leadership status throughout the forecast period. Electric locomotives are widely used as railway locomotives for transporting heavy payloads of goods and passengers. The locomotive can contain a power source such as batteries, for providing the start-up power for kick-starting the engines. However, the dual power segment is projected to manifest the highest CAGR of 7.09% from 2022 to 2031.
Based on components, the wheelset segment accounted for the largest share in 2021, contributing to nearly one-third of the global bullet train market, and is projected to maintain its lead position during the forecast period. In the current scenario, most of the regions are operating wheels on rail-based bullet trains. Also, it provides various benefits such as It maintaining the vehicle in the central position wireless railway train the track. Thus, such benefits of the wheel on rail and a high number of usages across the globe are anticipated to drive the wheelset's growth during the forecast period. However, the other segment is expected to portray the largest CAGR of 18.06% from 2022 to 2031.
๐๐ ๐ฒ๐จ๐ฎ ๐ก๐๐ฏ๐ ๐๐ง๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ, ๐๐ฅ๐๐๐ฌ๐ ๐๐๐๐ฅ ๐๐ซ๐๐ ๐ญ๐จ ๐๐จ๐ง๐ญ๐๐๐ญ ๐จ๐ฎ๐ซ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ ๐๐ญ: https://www.alliedmarketresearch.com/connect-to-analyst/A08779
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for more than half of the global bullet train market, and is likely to dominate the market during the forecast period. Countries such as China, Japan, and South Korea are largely focused on developing bullet trains to reduce traveling time and regulate pollution in the region. In addition, many companies and governments of various Asian countries are making considerable investments to replace and upgrade their existing bullet trains. However, the North American region is expected to witness the fastest CAGR of 16.99% from 2022 to 2031.
The key market players in the bullet train market are ABB Ltd., Alstom SA, Siemens AG, Thales Group, Construcciones y Auxiliar de Ferrocarriles, S.A., CRRC Corporation Limited, Hitachi Ltd., Kawasaki Rail Car, Inc., Mitsubishi Heavy Industries Ltd., and Caterpillar Inc.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A08779
๐๐จ๐ฏ๐ข๐-๐๐ ๐๐๐๐ง๐๐ซ๐ข๐จ
โ The outbreak of the Covid-19 pandemic had a negative impact on the global bullet train market.
โ Reduction in the count of patients suffering from COVID-19 in the coming days with safety majors taken by governments and vaccination being carried out aggressively to curb the spread of the coronavirus is expected to gradually reduce the impact of COVID-19 on the global bullet train market. It further highlights the key strategies adopted by players during the global pandemic crisis.
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฉ๐ญ๐จ ๐๐% ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ (246 ๐๐๐ ๐๐ฌ ๐๐๐ ๐ฐ๐ข๐ญ๐ก ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐๐ก๐๐ซ๐ญ๐ฌ, ๐๐๐๐ฅ๐๐ฌ, ๐๐ง๐ ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/high-speed-rail-market/purchase-options
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๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
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