What Has Been the Growth of the Bullet Train Or High-Speed Rail Market So Far?
The bullet train or high-speed rail market has seen considerable growth due to a variety of factors.
• The bullet train or high-speed rail market has experienced strong growth in recent years, with its value projected to rise from $42.82 billion in 2024 to $46.77 billion in 2025, marking a compound annual growth rate (CAGR) of 9.2%.
This growth is driven by an increased demand for energy-efficient transportation, higher budget allocations for rail development, a desire for faster travel and time savings, growing popularity of bullet trains/high-speed rails, and improved comfort and safety features.
What Is the Forecasted Market Size and Growth Rate for The Bullet Train Or High-Speed Rail Market Size In The Coming Years?
The bullet train or high-speed rail market is expected to maintain its strong growth trajectory in upcoming years.
• The bullet train or high-speed rail market is expected to grow to $65.61 billion by 2029, at a CAGR of 8.8%.
Government infrastructure investments, growing public transport usage, sustainability concerns, a boost in tourism, and industrial activity contribute to this growth. Trends include advancements in train technology, energy-efficient propulsion, improved braking systems, and active suspension systems.
What Factors Are Driving Growth In The Bullet Train Or High-Speed Rail Market?
The growing demand for public transport services is expected to propel the growth of the bullet train or high-speed rail market. Public transport systems, including high-speed rail, are gaining traction due to their ability to reduce urban congestion and offer fast, sustainable travel options. The American Public Transportation Association reported a 16% increase in public transit ridership in 2023 compared to 2022, which supports the growth of the high-speed rail market.
What Are The Main Segments Of The Global Bullet Train Or High-Speed Rail Market?
The bullet train or high-speed rail market covered in this report is segmented –
1) By Component: Axle, Wheel set, Converter, Transformer, Traction Motor, Traction System, Pantograph
2) By Propulsion: Diesel, Electric, Dual Power
3) By Speed: 200-299 km/h, 300-399 km/h, 400-499 km/h, Above 500 km/h
4) By Technology: Wheel on Rail, Maglev
5) By Application: Passenger, Freight
Subsegments:
1) By Axle: Solid Axle, Hollow Axle
2) By Wheel Set: Driving Wheel Set, Non-Driving Wheel Set
3) By Converter: DC-AC Converter, AC-DC Converter, Multi-Level Converter
4) By Transformer: Step-Up Transformer, Step-Down Transformer, Traction Transformer
5) By Traction Motor: Synchronous Motor, Induction Motor, Permanent Magnet Motor
6) By Traction System: Electric Traction System, Hybrid Traction System
7) By Pantograph: Single Arm Pantograph, Double Arm Pantograph, Scissor Pantograph
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What Emerging Trends Are Influencing The Growth Of The Bullet Train Or High-Speed Rail Market?
Companies in the bullet train or high-speed rail market are working on innovative technologies like high-speed rail services to reduce travel time. In October 2023, the Indonesian government launched Whoosh, Southeast Asia’s first high-speed railway, which can reach speeds of up to 350 km/h, significantly reducing travel time from 2-3 hours to just 40 minutes, boosting connectivity and economic growth.
Who Are the Key Players In The Bullet Train Or High-Speed Rail Market?
Major companies operating in the bullet train or high-speed rail market are:
• Hitachi Ltd.
• Siemens AG
• CRRC Corporation Limited
• Mitsubishi Heavy Industries Ltd.
• ABB Ltd.
• Acciona SA
• Thales Group
• Alstom SA
• Kawasaki Heavy Industries Ltd.
• Balfour Beatty plc
• Ferrovial SE
• Knorr-Bremse AG
• Bombardier Inc.
• SACYR SA
• Stadler Rail
• Hyundai Rotem
• Aselsan AS
• FCC Construction SA
• Škoda Transportation A.S.
• Talgo
What Is The Most Dominant Region In The Bullet Train Or High-Speed Rail Market?
Asia-Pacific was the largest region in the bullet train or high-speed rail market in 2024. The regions covered in the bullet train or high-speed rail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
