HOME Top Market Reports Bullet Train/High-Speed Rail Market by Speed in Km/H (200–299, 300–399, Above 400), Track Length, Technology, Application, Propulsion (Electric & Dual), Component (Axle, Transformer, Traction Motor, Traction System), and Region - Global Forecast to 2025

Bullet Train/High-Speed Rail Market by Speed in Km/H (200–299, 300–399, Above 400), Track Length, Technology, Application, Propulsion (Electric & Dual), Component (Axle, Transformer, Traction Motor, Traction System), and Region - Global Forecast to 2025

By: marketsandmarkets.com
Publishing Date: March 2018
Report Code: AT 6121

 

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The bullet train/high-speed rail market, in terms of volume, is projected to grow at a CAGR of 5.54% from 2018 to 2025. The market was valued at 3,261 Units in 2017 and is projected to reach 5,287 Units by 2025. In this study, 2017 has been considered the base year, and 2018–2025 is the forecast period, for estimating the market size of the bullet train/high-speed rail market.

The market report studies the bullet train/high-speed rail market and forecasts its market size, by volume, based on propulsion (diesel, electric, and dual power), speed (200–299 km/h, 300–399 km/h, 400–499 km/h, and above 500 km/h), application (passenger and freight), technology (wheel-on rail and maglev), components (axle, wheelset, transformer, converter, traction system, traction motor, and pantograph). The increasing demand for high-speed rail project for efficient transportation and setting up of new HSR lines are expected to drive the bullet train/high-speed rail market in Asia Pacific. The Asia Pacific region is estimated to lead the market, in terms of volume, in 2018. The European region is estimated to be the second largest market for bullet train/high-speed rail, due to technological advancements related to operations of trains in the region.

The research methodology used in the report involves various secondary sources such as International Union of Railways (UIC), Union of European Railway Industries (UNIFE), Japan Association of Rolling Stock Industries (JARI), Union of Industries of Railway Equipment (UIRE), and Brazilian Association of the Railroad Suppliers (ABIFER), including paid databases and directories. Experts from related industries and suppliers have been interviewed to understand the future trends of the bullet train/high-speed rail market. The bottom-up approach has been used to estimate and validate the size of the global market. The market size, by volume, is derived by identifying the country-wise operational train volumes and analyzing the demand trends.

The figure given below illustrates the break-up of the profile of industry experts who participated in primary discussions.

Bullet Train/High-Speed Rail Market

To know about the assumptions considered for the study, download the pdf brochure

The ecosystem of the bullet train/high-speed rail industry consists of manufacturers such as Bombardier (Canada), Alstom (France), Siemens (Germany), and Hitachi (Japan); research institutes such as the Japan Association of Rolling Stock Industries (JARI), International Railway Journal (IRJ), Union of Industries of Railway Equipment (UIRE), and Union of European Railway Industries (UNIFE).

Target Audience

  • Manufacturers of bullet train/high-speed rail
  • Dealers and distributors of bullet train/high-speed rail
  • Power supply dealers
  • Raw materials suppliers
  • Rail Industry organizations/associations
  • Infrastructure providers for railway lines
  • Investment firms
  • Equity research firms
  • Private equity firms

Scope of the Report

  • By Propulsion
    • Diesel
    • Electric
    • Dual Power
  • By Speed
    • 200–299 km/h
    • 300–399 km/h
    • 400–499 km/h
    • Above 500 km/h
  • By Application
    • Passenger
    • Freight
  • By Technology
    • Wheel on Rail
    • Maglev
  • By Component
    • Axle
    • Wheelset
    • Converter
    • Transformer
    • Traction Motor
    • Traction System
    • Pantograph
  • By Track Length
    • China
    • Japan
    • South Korea
    • Turkey
    • France
    • Germany
    • Italy
    • Spain
    • UK
    • US
  • By Region
    • Asia-Pacific
    • Europe
    • North America
    • RoW
    • Middle East

Available Customizations

MarketsandMarkets offers the following customizations for this market:

  • Detailed analysis and profiling of additional regions
  • Detailed analysis and profiling of additional market players (up to 3)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
    2.2 Secondary Data
           2.2.1 Key Data From Secondary Sources
    2.3 Primary Data
           2.3.1 Sampling Techniques & Data Collection Methods
           2.3.2 Primary Participants
    2.4 Factor Analysis
           2.4.1 Demand-Side Analysis
                    2.4.1.1 Infrastructure: Rail Network
                    2.4.1.2 Globalization Resulted in Increasing Demand for High-Speed Rail
           2.4.2 Supply Side Analysis
                    2.4.2.1 Technological Advancement
    2.5 Market Breakdown & Data Triangulation
    2.6 Market Size Estimation
           2.6.1 Bottom-Up Approach
           2.6.2 Top-Down Approach
    2.7 Research Assumptions

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 35)
    4.1 Attractive Opportunities in the Bullet Train/High-Speed Rail Market
    4.2 Bullet Train/High-Speed Rail Market Share, By Country
    4.3 Bullet Train/High-Speed Rail Market, By Propulsion
    4.4 Bullet Train/High-Speed Rail Market, By Speed
    4.5 Bullet Train/High-Speed Rail Market, By Technology
    4.6 Bullet Train/High-Speed Rail Market, By Application
    4.7 Bullet Train/High-Speed Rail Market for Automotive, By Region

5 Market Overview (Page No. - 39)
    5.1 Introduction
    5.2 High-Speed Rail Network, By Country
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Need to Reduce Traffic Congestion and Journey Time
                    5.3.1.2 Rise in Demand for Energy Efficient Transport
           5.3.2 Restraints
                    5.3.2.1 High Capital Investment and Operating Costs of High-Speed Rail Network
           5.3.3 Opportunities
                    5.3.3.1 Inclination of Emerging Countries Towards High-Speed Train for Rapid Transit
                    5.3.3.2 Increasing Demand for Comfort in Transportation
           5.3.4 Challenges
                    5.3.4.1 Difficulties in Acquiring Land for High-Speed Train Infrastructure
    5.4 Macro Indicator Analysis
           5.4.1 Introduction
                    5.4.1.1 Need for Rapid Mass Transit Through Energy Efficient Transport
                    5.4.1.2 GDP (USD Billion)
                    5.4.1.3 GNI Per Capita, Atlas Method (USD)
                    5.4.1.4 GDP Per Capita PPP (USD)
           5.4.2 Macro Indicators Influencing the Bullet Train/High-Speed Rail Market for Top 3 Countries
                    5.4.2.1 China
                    5.4.2.2 France
                    5.4.2.3 Japan

6 Technology Overview (Page No. - 49)
    6.1 Hyperloop - the Future of Transportation
    6.2 Articulated and Non-Articulated Train
    6.3 Tilting and Non-Tilting Train
    6.4 Autonomous Train

7 Bullet Train/ High-Speed Rail Market, By Application (Page No. - 51)
    7.1 Introduction
    7.2 Passenger
    7.3 Freight

8 Bullet Train/High-Speed Rail Market, By Component (Page No. - 56)
    8.1 Introduction
    8.2 Axle
    8.3 Wheel Set
    8.4 Transformer
    8.5 Converter
    8.6 Traction Motor
    8.7 Traction System
    8.8 Pantograph

9 Bullet Train/High-Speed Rail Market, By Propulsion (Page No. - 67)
    9.1 Introduction
    9.2 Diesel
    9.3 Electric
    9.4 Dual

10 Bullet Train/High-Speed Rail Market, By Speed (Page No. - 73)
     10.1 Introduction
     10.2 200–299 km/h
     10.3 300–399 km/h
     10.4 400–499 km/h
     10.5 Above 500 km/h

11 Bullet Train/High-Speed Rail Market, By Technology (Page No. - 81)
     11.1 Introduction
     11.2 Wheel on Rail
     11.3 Maglev

12 Bullet Train/High-Speed Rail Market, By Track Length (Page No. - 86)
     12.1 Introduction
     12.2 China
             12.2.1 Operational High-Speed Rail in China
             12.2.2 Under Construction High-Speed Rail Lines in China
     12.3 Japan
             12.3.1 Operational High-Speed Rail in Japan
             12.3.2 Under Construction High-Speed Rail Lines in Japan
     12.4 South Korea
             12.4.1 Operational High-Speed Rail in South Korea
             12.4.2 Under Construction High-Speed Rail Lines in South Korea
             12.4.3 Long Term Plan High-Speed Rail Lines in South Korea
     12.5 Turkey
             12.5.1 Operational High-Speed Rail in Turkey
             12.5.2 Under Construction High-Speed Rail Lines in Turkey
             12.5.3 Long Term Plan for High-Speed Rail Lines in Turkey
     12.6 France
             12.6.1 Operational High-Speed Rail in France
             12.6.2 Under Construction High-Speed Rail Train Lines in France
             12.6.3 Long Term Plan for High-Speed Rail Lines in France
     12.7 Germany
             12.7.1 Operational High-Speed Rail in Germany
             12.7.2 Under Construction High-Speed Rail Lines in Germany
             12.7.3 Long Term Plan for High-Speed Rail Lines in Germany
     12.8 Italy
             12.8.1 Operational High-Speed Rail in Italy
             12.8.2 Under Construction High-Speed Rail Lines in Italy
             12.8.3 Long Term Plan for High-Speed Rail Lines in Italy
     12.9 Spain
             12.9.1 Operational High-Speed Rail in Spain
             12.9.2 Under Construction High-Speed Rail Lines in Spain
             12.9.3 Long Term Plan for High-Speed Rail Lines in Spain
     12.10 UK
             12.10.1 Operational High-Speed Rail in the Uk
             12.10.2 Long Term Plan for High-Speed Rail Lines in the Uk
     12.11 US
             12.11.1 Operational High-Speed Rail in the Us
             12.11.2 Under Construction High-Speed Rail Lines in the Us
             12.11.3 Long Term Plan for High-Speed Rail Lines in the Us

13 Bullet Train/High-Speed Rail Market, By Region (Page No. - 98)
     13.1 Introduction
     13.2 Asia Pacific
             13.2.1 China
             13.2.2 India
             13.2.3 Japan
             13.2.4 South Korea
             13.2.5 Turkey
             13.2.6 Australia
     13.3 Europe
             13.3.1 Germany
             13.3.2 France
             13.3.3 Italy
             13.3.4 Spain
             13.3.5 UK
     13.4 North America
             13.4.1 Canada
             13.4.2 Mexico
             13.4.3 US
     13.5 Rest of the World
             13.5.1 Brazil
             13.5.2 Russia
     13.6 Middle East
             13.6.1 Saudi Arabia
             13.6.2 Egypt

14 Competitive Landscape (Page No. - 126)
     14.1 Overview
     14.2 Market Ranking Analysis
     14.3 Competitive Scenario
             14.3.1 New Product Developments
             14.3.2 Mergers & Acquisitions
             14.3.3 Partnerships/Supply Contracts/Collaborations/Joint Ventures/License Agreements
             14.3.4 Expansions

15 Company Profiles (Page No. - 131)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
     15.1 Bombardier
     15.2 Alstom
     15.3 Siemens
     15.4 Hitachi
     15.5 ABB
     15.6 CRRC
     15.7 Talgo
     15.8 Kawasaki
     15.9 Toshiba
     15.10 Mitsubishi
     15.11 CAF
     15.12 Strukton

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

16 Appendix (Page No. - 165)
     16.1 Key Insights of Industry Experts
     16.2 Discussion Guide
     16.3 Available Customizations
     16.4 Knowledge Store: Marketsandmarkets’ Subscription Portal
     16.5 Introducing RT: Real Time Market Intelligence
     16.6 Author Details


List of Tables (58 Tables)

Table 1 Currency Exchange Rates (W.R.T. USD)
Table 2 High-Speed Rail Market Snapshot
Table 3 Operational High-Speed Rail Network - Spain
Table 4 Operational High-Speed Rail Network – France
Table 5 Operational High-Speed Rail Network – Japan
Table 6 China: Rising GNI Per Capita is Expected to Drive the Increasing Ridership of High-Speed Train During the Forecast Period
Table 7 France: Rising GDP is Likely to Have A High Impact on High-Speed Train Sales
Table 8 Japan: Increasing GNI is Expected to Play A Crucial Role in Boosting the High-Speed Rail Market
Table 9 High-Speed Rail Market Size, By Application, 2016–2025 (Units)
Table 10 Passenger: High-Speed Rail Market Size, By Region, 2016–2025 (Units)
Table 11 Freight: High-Speed Rail Market Size, By Region, 2016–2025 (Units)
Table 12 High-Speed Rail Market Size, By Component, 2016–2025 (Units)
Table 13 Axle: High-Speed Rail Market Size, By Region, 2016–2025 (Units)
Table 14 Wheel Set: High-Speed Rail Market Size, By Region, 2016–2025 (Units)
Table 15 Transformer: High-Speed Rail Market Size, By Region, 2016–2025 (Units)
Table 16 Converter: High-Speed Rail Market Size, By Region, 2016–2025 (Units)
Table 17 Traction Motor: High-Speed Rail Market Size, By Region, 2016–2025 (Units)
Table 18 Traction System: High-Speed Rail Market Size, By Region, 2016–2025 (Units)
Table 19 Pantograph: High-Speed Rail Market Size, By Region, 2016–2025 (Units)
Table 20 High-Speed Rail Market Size, By Propulsion, 2016–2025 (Units)
Table 21 Diesel: High-Speed Train Market Size, By Region, 2016–2025 (Units)
Table 22 Electric: High-Speed Rail Market Size, By Region, 2016–2025 (Units)
Table 23 Dual: High-Speed Rail Market Size, By Region, 2016–2025 (Units)
Table 24 High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 25 200–299kmph: High-Speed Rail Market Size, By Region, 2016–2025 (Units)
Table 26 300–399 km/h: High-Speed Rail Market Size, By Region, 2016–2025 (Units)
Table 27 400–499 km/h: High-Speed Rail Market Size, By Region, 2016–2025 (Units)
Table 28 Above 500 km/h: High-Speed Rail Market Size, By Region, 2016–2025 (Units)
Table 29 High-Speed Rail Market Size, By Technology, 2016–2025 (Units)
Table 30 Wheel on Rail: High-Speed Rail Market Size, By Region, 2016–2025 (Units)
Table 31 Maglev: High-Speed Rail Market Size, By Region, 2016–2025 (Units)
Table 32 High-Speed Rail Market, By Region, 2016–2025 (Units)
Table 33 Asia Pacific: High-Speed Rail Market, By Country, 2016–2025 (Units)
Table 34 China: High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 35 India: High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 36 Japan: High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 37 South Korea: High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 38 Turkey: High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 39 Europe: High-Speed Rail Market, By Country, 2016–2025 (Units)
Table 40 Germany: High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 41 France: High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 42 Italy: High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 43 Spain: High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 44 UK: High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 45 North America: High-Speed Rail Market, By Country, 2016–2025 (Units)
Table 46 Canada: High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 47 Mexico: High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 48 US: High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 49 RoW: High-Speed Rail Market, By Country, 2016–2025 (Units)
Table 50 Brazil: High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 51 Russia: High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 52 Middle East: High-Speed Rail Market, By Country, 2016–2025 (Units)
Table 53 Saudi Arabia: High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 54 Egypt: High-Speed Rail Market Size, By Speed, 2016–2025 (Units)
Table 55 New Product Development, 2015–2017
Table 56 Mergers & Acquisitions, 2017
Table 57 Partnerships/Supply Contracts/Collaborations/Joint Ventures/Agreements, 2017
Table 58 Expansions, 2016–2017


List of Figures (78 Figures)

Figure 1 High-Speed Rail Market: Research Design
Figure 2 Breakdown of Primary Interviews
Figure 3 High-Speed Rail Network, 2016
Figure 4 Data Triangulation
Figure 5 High-Speed Rail Market: Bottom-Up Approach
Figure 6 High-Speed Rail Market: Top-Down Approach
Figure 7 Bullet Train/High-Speed Rail Market, By Propulsion (2018 vs 2025)
Figure 8 Bullet Train/High-Speed Rail Market, By Speed (2018 vs 2025)
Figure 9 Bullet Train/High-Speed Rail Market, By Component (2018 vs 2025)
Figure 10 Bullet Train/High-Speed Rail Market, By Technology (2018 vs 2025)
Figure 11 Bullet Train/High-Speed Rail Market, By Application (2018 vs 2025)
Figure 12 Bullet Train/High-Speed Rail Market, By Region (2018 vs 2025)
Figure 13 Need to Reduce Traffic Congestion and Journey Time is Likely to Boost the Growth of the Bullet Train/High-Speed Rail Market From 2018 to 2025
Figure 14 Russia is Estimated to Be the Fastest Growing Market for Bullet Train/High-Speed Rail From 2018 to 2025
Figure 15 Electric Propulsion Segment of Bullet Train/High-Speed Rail Market to Have the Largest Market Size By 2025
Figure 16 300 km/h to 399 km/h Speed Segment to Have the Largest Share of Bullet Train/High-Speed Rail Market, 2018 vs 2025
Figure 17 Wheel-On-Rail Segment to Have the Largest Share of Bullet Train/High-Speed Rail Market, 2018 vs 2025
Figure 18 Passenger Bullet Train/High-Speed Rail to Hold the Largest Share of Bullet Train/High-Speed Rail Market, 2018 vs 2025 (Units)
Figure 19 Asia Pacific to Be the Largest Market for Bullet Train/High-Speed Rail, 2018 vs 2025
Figure 20 High-Speed Rail: Market Dynamics
Figure 21 Carbon Dioxide & Energy Consumption From Madrid to Barcelona
Figure 22 High-Speed Train Rail, By Application, 2018 vs 2025 (Units)
Figure 23 Passenger: High-Speed Rail Market, By Region, 2018 vs 2025 (Units)
Figure 24 Freight: High-Speed Rail Market, By Region, 2018 vs 2025 (Units)
Figure 25 High-Speed Rail Market, By Component, 2018 vs 2025 (Units)
Figure 26 Axle: High-Speed Rail Market, By Region, 2018 vs 2025 (Units)
Figure 27 Wheel Set: High-Speed Rail Market, By Region, 2018 vs 2025 (Units)
Figure 28 Transformer: High-Speed Rail Market, By Region, 2018 vs 2025 (Units)
Figure 29 Converter: High-Speed Rail Market, By Region, 2018 vs 2025 (Units)
Figure 30 Traction Motor: High-Speed Rail Market, By Region, 2018 vs 2025 (Units)
Figure 31 Traction System: High-Speed Rail Market, By Region, 2018 vs 2025 (Units)
Figure 32 Pantograph: High-Speed Rail Market, By Region, 2018 vs 2025 (Units)
Figure 33 High-Speed Rail Market, By Propulsion, 2018 vs 2025 (Units)
Figure 34 Diesel: High-Speed Rail Market, By Region, 2018 vs 2025 (Units)
Figure 35 Electric: High-Speed Rail Market, By Region, 2018 vs 2025 (Units)
Figure 36 Dual: High-Speed Rail Market, By Region, 2018 vs 2025 (Units)
Figure 37 High-Speed Rail Market, By Speed, 2018 vs 2025 (Units)
Figure 38 200–299 km/h: High-Speed Rail Market, By Region, 2018 vs 2025 (Units)
Figure 39 300–399 km/h: High-Speed Rail Market, By Region, 2018 vs 2025 (Units)
Figure 40 400–499 km/h: High-Speed Rail Market, By Speed, 2018 vs 2025 (Units)
Figure 41 Above 500 km/h: High-Speed Rail Market, By Region, 2018 vs 2025 (Units)
Figure 42 High-Speed Rail Market, By Technology, 2018 vs 2025 (Units)
Figure 43 Wheel on Rail: High-Speed Rail Market, By Region, 2018 vs 2025 (Units)
Figure 44 Russia is Estimated to Be the Fastest-Growing Market for High-Speed Rail During the Forecast Period (2018–2025)
Figure 45 Asia Pacific: High-Speed Rail Market Snapshot
Figure 46 China: High-Speed Rail Market, By Speed, 2018 vs 2025 (Units)
Figure 47 Japan: High-Speed Rail Market, By Speed, 2018 vs 2025 (Units)
Figure 48 South Korea: High-Speed Rail Market, By Speed, 2018 vs 2025 (Units)
Figure 49 Europe: High-Speed Rail Market Snapshot
Figure 50 Germany: High-Speed Rail Market, By Speed, 2018 vs 2025 (Units)
Figure 51 France: High-Speed Rail Market, By Speed, 2018 vs 2025 (Units)
Figure 52 Italy: High-Speed Rail Market, By Speed, 2018 vs 2025 (Units)
Figure 53 Spain: High-Speed Rail Market, By Speed, 2018 vs 2025 (Units)
Figure 54 North America: High-Speed Rail Market, By Country, 2018–2025 (Units)
Figure 55 US: High-Speed Rail Market, By Speed, 2018 vs 2025 (Units)
Figure 56 RoW: High-Speed Rail Market, 2018 vs 2025 (Units)
Figure 57 Russia: High-Speed Rail Market, By Speed, 2018 vs 2025 (Units)
Figure 58 Middle East: High-Speed Rail Market, 2018 vs 2025 (Units)
Figure 59 Saudi Arabia: High-Speed Rail Market, By Speed, 2018 vs 2025 (Units)
Figure 60 Key Developments By Leading Players in the Bullet Train/ High-Speed Rail Market, 2015–2018
Figure 61 Bullet Train/High-Speed Rail Market Ranking: 2017
Figure 62 Company Snapshot: Bombardier
Figure 63 Bombardier: SWOT Analysis
Figure 64 Company Snapshot: Alstom
Figure 65 Alstom: SWOT Analysis
Figure 66 Company Snapshot: Siemens
Figure 67 Siemens: SWOT Analysis
Figure 68 Company Snapshot: Hitachi
Figure 69 Hitachi: SWOT Analysis
Figure 70 Company Snapshot: ABB
Figure 71 ABB: SWOT Analysis
Figure 72 Company Snapshot: CRRC
Figure 73 Company Snapshot: Talgo
Figure 74 Company Snapshot: Kawasaki
Figure 75 Company Snapshot: Toshiba
Figure 76 Company Snapshot: Mitsubishi
Figure 77 Company Snapshot: CAF
Figure 78 Company Snapshot: Strukton

The bullet train/high-speed rail market is estimated to be 3,626 Units in 2018 and is projected to reach 5,287 by 2025, at a CAGR of 5.54% from 2018 to 2025. The key growth driver for the bullet train/high-speed rail market is the rising need for mass public transit to reduce traffic congestion and journey time.

The electric propulsion segment is estimated to be the largest as well as the fastest growing market segment in 2018. The segment is anticipated to grow at a rapid pace due to its energy-efficient operation with high operating speed for high-speed trains. Also, the government authorities of various countries are encouraging energy-efficient transporting modes which in turn boosting the growth of the electric propulsion segment of the bullet train/high-speed rail market.

The segment, by speed, in the range of 300–399 km/h for bullet train/high-speed rail is estimated to be the largest as well as the fastest growing market, by volume, during the forecast period. This growth is attributed to the inclination of railway authorities of numerous countries to enhance the speed of high-speed train fleet to improve rail transit modes. Also, expansion of HSR lines is fueling the demand for enhancing the speed of bullet trains by passengers to reduce the journey time.

By technology, the wheel on rail segment is estimated to be the largest market, by volume, during the forecast period. The rising demand for rapid mass transit to reduce traffic congestion is majorly responsible for the estimated growth of the wheel on rail technology. However, the maglev technology is projected to record the fastest growth in the coming years for the bullet train/high-speed rail market. The high adoption rate of the maglev technology in the bullet train/high-speed rail market is estimated to make it the fastest growing segment.

The bullet train/high-speed rail market for the passenger segment is anticipated to show the largest growth during the forecast period. The increasing ridership for high-speed rail is expected to propel the growth of the passenger segment in the bullet train/high-speed rail market. The freight segment is estimated to account for the fastest growth during the forecast period due to the consistent technological advancements in the bullet train/high-speed rail market.

Axle and wheelset components of bullet train/high-speed rail, by component, are likely to witness the fastest growth as well as largest share in the bullet train/high-speed rail market. These components are installed in large numbers in a bullet train/high-speed rail making it the leading component in terms of growth.

The Asia Pacific region is projected to be the largest bullet train/high-speed rail market by 2025. The need for rapid mass transit to reduce the traffic congestion and journey time is the principal driving factor governing the growth in this region. The large HSR line infrastructure in countries such as China and Japan is expected to put the Asia Pacific region at the leading position in 2018 as well. The rising demand for energy-efficient transport coupled with the demand for luxury in transportation are the factors boosting the growth of the bullet train/high-speed rail market in the European region.

Bullet Train/High-Speed Rail Market

The key factor restraining the growth of the bullet train/high-speed rail market is the high capital investment and operating costs of the high-speed rail network. In addition to this, the acquisition of land is a crucial factor offering a challenge to the growth of the bullet train/high-speed rail market. The bullet train/high-speed rail market is dominated by a few global players and comprises several regional players. Some of the key manufacturers operating in the market are Bombardier (Canada), Alstom (France), Siemens (Germany), Hitachi (Japan), and ABB (Switzerland).

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