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Bullet Train and High-Speed Rail Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: Jun 2022
  • Pages: 134
  • SKU: IRTNTR73474
Technavio

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Based on Technavio's market sizing methodology, the bullet train and high-speed rail market size is predicted to surge to 1106.31 actual units from 2021 to 2026 at a CAGR of 5.26%.

This report further entails bullet train and high-speed rail market segmentation, including:

  • Application - Passenger and freight
  • Geography - APAC, Europe, North America, South America, and Middle East and Africa

What will the Bullet Train and High-Speed Rail Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Bullet Train and High-Speed Rail Market Size for the Forecast Period and Other Important Statistics

 

This bullet train and high-speed rail market research report provide valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The bullet train and high-speed rail market report also offers information on several market vendors, including ABB Ltd., ALSTOM SA, Construcciones y Auxiliar de Ferrocarriles SA, CRRC Corp. Ltd., Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Kawasaki Heavy Industries Ltd., Larsen and Toubro Ltd., Mitsubishi Heavy Industries Ltd., Siemens AG, Strukton Groep NV, Talgo SA, and Toshiba Corp. among others.

Bullet Train and High-Speed Rail Market: Key Drivers, Trends, and Challenges

The low cost of high-speed rail freight and sustainable mode of transport is notably driving the bullet train and high-speed rail market growth, although factors such as low market penetration in the US may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the bullet train and high-speed rail industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Bullet Train and High-Speed Rail Market Driver

  • The low cost of high-speed rail freight and sustainable mode of transport is one of the key drivers supporting the bullet train and high-speed rail market growth. 
  • The cost of transporting goods to far-off places through rail freight is lesser than road and airfreight. However, one of the major factors increasing overall airfreight costs is the rise in fuel prices. 
  • As fuel price increases, airfreight operators typically pass on the rise in cost to their customers through the addition of fuel surcharges, and this can increase prices.
  • The road freight charges are increasing in APAC due to the rise in fuel prices in the region. 
  • The high-speed rail freight is the most sustainable mode of transport, as it contributes minimum to the global GHG emission by various modes of transport, excluding cycles. 

Thus, the relatively low price of rail freight compared with other modes of transport can positively impact the growth of the bullet train and high-speed rail market during the forecast period. 

Key Bullet Train and High-Speed Rail Market Trend

  • The emergence of digitalization and connected rail in bullet train and high-speed rails is one of the key bullet train and high-speed rail market trends fueling the market growth.
  • Connected rail will benefit from the development of IoT networks as most end customers would prefer to be connected with their smartphones and other digital infrastructure.
  • IoT allows the use of AI in a connected rail to read information stored in the cloud and alter drive patterns accordingly.
  • The system also helps in reducing train collisions and the risk of accidents when vehicles communicate with each other about factors such as speed and braking distance.

Hence, the increasing use of AI and IoT in connected trains will boost the adoption of connected rail solutions in bullet trains and high-speed railway networks in the near future. 

Key Bullet Train and High-Speed Rail Market Challenge

  • Low market penetration in the US is one of the challenges hindering the bullet train and high-speed rail market growth. 
  • As the cost of building a high-speed railway network is higher than that of a traditional railway network, bullet trains and high-speed rails may not be economical for less densely populated countries such as the US and Canada.
  • The large dependency of US citizens on private transport and commercial vehicles limits the application of a high-speed railway network. 
  • Most of the long-distance railway networks in the US are owned by freight companies. Therefore, passenger train service providers also focus on only freight trains.

Such factors will restrict the adoption of bullet trains and high-speed rails in the US, which, in turn, will negatively impact the growth of the market during the forecast period. 

This bullet train and high-speed rail market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global bullet train and high-speed rail market as a part of the global railroads market within the global transportation market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the bullet train and high-speed rail market during the forecast period.

Who are the Major Bullet Train and High-Speed Rail Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • ALSTOM SA
  • Construcciones y Auxiliar de Ferrocarriles SA
  • CRRC Corp. Ltd.
  • Fuji Electric Co. Ltd.
  • General Electric Co.
  • Hitachi Ltd.
  • Kawasaki Heavy Industries Ltd.
  • Larsen and Toubro Ltd.
  • Mitsubishi Heavy Industries Ltd.
  • Siemens AG
  • Strukton Groep NV
  • Talgo SA
  • Toshiba Corp.

 

This statistical study of the bullet train and high-speed rail market encompasses successful business strategies deployed by the key vendors. The bullet train and high-speed rail market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Global.abb - The company offers complete traction systems for high-speed trains including traction converters, traction motors, as well as auxiliary converters.
  • Alstom.com - The company offers rolling stock solutions such as emissions-free propulsion systems such as batteries and hydrogen.
  • Caf.net - The company offers high-speed rail such as 120 and 121 series for RENFE, and 12 units for Turkish railways.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The bullet train and high-speed rail market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Bullet Train and High-Speed Rail Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the bullet train and high-speed rail market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Bullet Train and High-Speed Rail Market?

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64% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for bullet train and high-speed rails in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The countries such as China, Japan, India, and South Korea have been investing heavily in high-speed rail transport systems to cope with rising road traffic congestion and improve the transportation facilities, which will facilitate the bullet train and high-speed rail market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 adversely impacted the growth of the regional market. However, the initiation of COVID-19 vaccination drives and the rising awareness among people regarding the measures to contain the spread of the disease led to the resumption of end-user activities in 2021. This has resulted in rapid investment in high-speed bullet train projects in APAC. Thus, such factors will drive the growth of the regional bullet train and high-speed rail market during the forecast period.

What are the Revenue-generating Application Segments in the Bullet Train and High-Speed Rail Market?

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The bullet train and high-speed rail market share growth by the passenger segment will be significant during the forecast period. High-speed passenger trains and the growing tourism industry are anticipated to be the key factors for the growth of the passenger segment in the near future. Moreover, growing concern from governments across the globe regarding climate change is expected to drive the demand for bullet trains and high-speed rails and thereby driving the market growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the bullet train and high-speed rail market size and actionable market insights on post COVID-19 impact on each segment.

 

Bullet Train and High-Speed Rail Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.26%

Market growth 2022-2026

1106.31 actual units

Market structure

Fragmented

YoY growth (%)

4.85

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 64%

Key consumer countries

Canada, China, Japan, Spain, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ABB Ltd., ALSTOM SA, Construcciones y Auxiliar de Ferrocarriles SA, CRRC Corp. Ltd., Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Kawasaki Heavy Industries Ltd., Larsen and Toubro Ltd., Mitsubishi Heavy Industries Ltd., Siemens AG, Strukton Groep NV, Talgo SA, and Toshiba Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Bullet Train and High-Speed Rail Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive bullet train and high-speed rail market growth during the next five years
  • Precise estimation of the bullet train and high-speed rail market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the bullet train and high-speed rail industry across APAC, Europe, North America, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of bullet train and high-speed rail market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 (actual units)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 (actual units)
      • Exhibit 15: Chart on Global Market- Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market- Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 Passenger - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Passenger - Market size and forecast 2021-2026 (actual units)
      • Exhibit 29: Data Table on Passenger - Market size and forecast 2021-2026 (actual units)
      • Exhibit 30: Chart on Passenger - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Passenger - Year-over-year growth 2021-2026 (%)
    • 5.4 Freight - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Freight - Market size and forecast 2021-2026 (actual units)
      • Exhibit 33: Data Table on Freight - Market size and forecast 2021-2026 (actual units)
      • Exhibit 34: Chart on Freight - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Freight - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Application
      • Exhibit 36: Market opportunity by Application (actual units)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 (actual units)
      • Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 (actual units)
      • Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 (actual units)
      • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 (actual units)
      • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 (actual units)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 (actual units)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 (actual units)
      • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 (actual units)
      • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 (actual units)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 (actual units)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 62: Chart on China - Market size and forecast 2021-2026 (actual units)
      • Exhibit 63: Data Table on China - Market size and forecast 2021-2026 (actual units)
      • Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 Spain - Market size and forecast 2021-2026
      • Exhibit 66: Chart on Spain - Market size and forecast 2021-2026 (actual units)
      • Exhibit 67: Data Table on Spain - Market size and forecast 2021-2026 (actual units)
      • Exhibit 68: Chart on Spain - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on Spain - Year-over-year growth 2021-2026 (%)
    • 7.10 Japan - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Japan - Market size and forecast 2021-2026 (actual units)
      • Exhibit 71: Data Table on Japan - Market size and forecast 2021-2026 (actual units)
      • Exhibit 72: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.11 Germany - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 (actual units)
      • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 (actual units)
      • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.12 Canada - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Canada - Market size and forecast 2021-2026 (actual units)
      • Exhibit 79: Data Table on Canada - Market size and forecast 2021-2026 (actual units)
      • Exhibit 80: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography (actual units)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 ABB Ltd.
              • Exhibit 89: ABB Ltd. - Overview
              • Exhibit 90: ABB Ltd. - Business segments
              • Exhibit 91: ABB Ltd. - Key offerings
              • Exhibit 92: ABB Ltd. - Segment focus
            • 10.4 ALSTOM SA
              • Exhibit 93: ALSTOM SA - Overview
              • Exhibit 94: ALSTOM SA - Business segments
              • Exhibit 95: ALSTOM SA - Key news
              • Exhibit 96: ALSTOM SA - Key offerings
              • Exhibit 97: ALSTOM SA - Segment focus
            • 10.5 Construcciones y Auxiliar de Ferrocarriles SA
              • Exhibit 98: Construcciones y Auxiliar de Ferrocarriles SA - Overview
              • Exhibit 99: Construcciones y Auxiliar de Ferrocarriles SA - Business segments
              • Exhibit 100: Construcciones y Auxiliar de Ferrocarriles SA - Key offerings
              • Exhibit 101: Construcciones y Auxiliar de Ferrocarriles SA - Segment focus
            • 10.6 CRRC Corp. Ltd.
              • Exhibit 102: CRRC Corp. Ltd. - Overview
              • Exhibit 103: CRRC Corp. Ltd. - Product / Service
              • Exhibit 104: CRRC Corp. Ltd. - Key offerings
            • 10.7 Fuji Electric Co. Ltd.
              • Exhibit 105: Fuji Electric Co. Ltd. - Overview
              • Exhibit 106: Fuji Electric Co. Ltd. - Business segments
              • Exhibit 107: Fuji Electric Co. Ltd. - Key offerings
              • Exhibit 108: Fuji Electric Co. Ltd. - Segment focus
            • 10.8 General Electric Co.
              • Exhibit 109: General Electric Co. - Overview
              • Exhibit 110: General Electric Co. - Business segments
              • Exhibit 111: General Electric Co. - Key news
              • Exhibit 112: General Electric Co. - Key offerings
              • Exhibit 113: General Electric Co. - Segment focus
            • 10.9 Hitachi Ltd.
              • Exhibit 114: Hitachi Ltd. - Overview
              • Exhibit 115: Hitachi Ltd. - Business segments
              • Exhibit 116: Hitachi Ltd. - Key news
              • Exhibit 117: Hitachi Ltd. - Key offerings
              • Exhibit 118: Hitachi Ltd. - Segment focus
            • 10.10 Kawasaki Heavy Industries Ltd.
              • Exhibit 119: Kawasaki Heavy Industries Ltd. - Overview
              • Exhibit 120: Kawasaki Heavy Industries Ltd. - Business segments
              • Exhibit 121: Kawasaki Heavy Industries Ltd. - Key news
              • Exhibit 122: Kawasaki Heavy Industries Ltd. - Key offerings
              • Exhibit 123: Kawasaki Heavy Industries Ltd. - Segment focus
            • 10.11 Mitsubishi Heavy Industries Ltd.
              • Exhibit 124: Mitsubishi Heavy Industries Ltd. - Overview
              • Exhibit 125: Mitsubishi Heavy Industries Ltd. - Business segments
              • Exhibit 126: Mitsubishi Heavy Industries Ltd. - Key news
              • Exhibit 127: Mitsubishi Heavy Industries Ltd. - Key offerings
              • Exhibit 128: Mitsubishi Heavy Industries Ltd. - Segment focus
            • 10.12 Siemens AG
              • Exhibit 129: Siemens AG - Overview
              • Exhibit 130: Siemens AG - Business segments
              • Exhibit 131: Siemens AG - Key news
              • Exhibit 132: Siemens AG - Key offerings
              • Exhibit 133: Siemens AG - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 134: Inclusions checklist
                • Exhibit 135: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 136: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 137: Research methodology
                • Exhibit 138: Validation techniques employed for market sizing
                • Exhibit 139: Information sources
              • 11.5 List of abbreviations
                • Exhibit 140: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
              Interested in this report?
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              The bullet train and high-speed rail market market growth will increase by $1106 actual units during 2023-2026.
              The bullet train and high-speed rail market market is expected to grow at a CAGR of 5.26% during 2023-2026.
              Technavio has segmented the bullet train and high-speed rail market market by application (Passenger and Freight) and geography (APAC, Europe, North America, South America, and Middle East and Africa).
              ABB Ltd., ALSTOM SA, Construcciones y Auxiliar de Ferrocarriles SA, CRRC Corp. Ltd., Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Kawasaki Heavy Industries Ltd., Larsen and Toubro Ltd., Mitsubishi Heavy Industries Ltd., Siemens AG, Strukton Groep NV, Talgo SA, Toshiba Corp. are a few of the key vendors in the bullet train and high-speed rail market market.
              APAC will register the highest growth rate of 64% among the other regions. Therefore, the bullet train and high-speed rail market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the bullet train and high-speed rail market market growth are:
              • Low cost of high-speed rail freight and sustainable mode of transport
              • Emergence of digitalization and connected rail in bullet train and high-speed rails
              The bullet train and high-speed rail market market vendors should focus on grabbing business opportunities from the passenger segment as it accounted for the largest market share in the base year.
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