Press release
Hyper loop Technology Market – Future or Imaginary - Leading Key Players - AECOM, Hyperloop Transportation Techno, Hyperloop One , Space Exploration Techno Corp
In 2013, Elon Musk was the first one to invent an ultra- high-speed ground transportation system. Hyper loop can be explained as a system which builds a tube over or under the ground which contains a special environment. Hyper loop has various features such as electromagnetic motors, tube tracks have vacuum, air bearings are like ski paddles and the tube tracks are designed in such a manner that they are immune to any natural disaster.
The factors contributing to the growth of the hyper loop technology market are the rising demand for fastest mode of transportation, increasing demand for cheapest transportation, better infrastructure facilities and technology which is not vulnerable to natural calamities. Furthermore, the increasing industrialization is boosting the growth of the market. However, factors such as lack of awareness, various security issues are hindering the growth of the hyper loop technology market.
The global hyper loop technology market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of the hyper loop technology market is influenced by rising industrialization, fastest as well as cheapest mode of transportation and not vulnerable to any kind of natural calamities. Furthermore, hyper loop technology offers various benefits such as convenient, lower cost and not disruptive. However, the safety issue, lack of awareness and various government regulations are hampering the growth of the hyper loop technology market.
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Major Key Players
AECOM (U.S.),
Hyperloop Transportation Technologies (US),
Hyperloop One (US),
Dinclix GroundWorks (India),
TransPod Inc. (Canada)
Space Exploration Technologies Corp (U.S.)
The global hyper loop technology market is expected to reach approximately USD 2 billion by the end of 2023 over the forecast period 2017-2023.
Regional Analysis
Regionally, North-America is projected to grow by 2023. The first operational hyperloop is expected built between Los Angeles and California. Hyperloop One Global Challenge shortlisted teams to present hyperloop route plans to be developed after various check in this region. Also, government approval to develop hyperloop technology development companies in this region. Furthermore, capital investments plays an important role for the development of hyper loop technology.
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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
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