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High-speed Rail Market Size, Share, and COVID-19 Impact Analysis, 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 Component (Axel, Wheelset, Converter, Transformer, Traction Motor, Traction System, Pantograph), and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI106986 | Status : Ongoing

 

KEY MARKET INSIGHTS

High-speed rail is a type of rail system, which commutes faster than traditional rail. It uses an integrated rail system of specialized rolling stock and dedicated tracks. The first high-speed rail system, Tōkaidō Shinkansen, was operated in Japan in 1964 and is widely known as the bullet train. Bullet trains generally work on Maglev, which is short for magnetic levitation. The wheels of the bullet train are electromagnetic in nature.


Owing to covering large geographic distances in a short time, the government's initiatives to incorporate fast trains and expand the tourism sector worldwide are the key factors driving the market growth. Moreover, high-speed rail, a sustainable mode of transport, along with low-cost freight, is also driving the growth of the market. The increase in inclination of emerging countries toward high-speed rail and the emergence of digitization and connected rail in high-speed rail & bullet train set the trend toward the high-speed rail market growth. Further, countries and many states are focusing on the adoption of such rail with the use of clean energy. For instance, in October 2022, the California high-speed railway system announced that all its HSR would be powered 100% by a renewable energy source. However, lower market penetration, high capital cost, and difficulty in acquiring land for construction restrain the market growth.

Impact of COVID-19 on the Automotive High Speed Rail Market


The COVID-19 pandemic created a setback for the overall industry. The governments restricted traveling and businesses to run partially. The supply chain got distracted due to low consumer interest, demand, and delayed transportation, which negatively impacted the market. However, the high-speed rail market is evaluated to increase due to the need for faster commute and transportation post-pandemic.

Key Insights


The report will cover the following key insights:


  • Key Industry Developments – Mergers, Acquisitions, and Partnerships

  • Porter's Five Forces Analysis

  • PEST Analysis

  • Technological Developments

  • Impact of COVID-19 on the High-speed Rail Market


Analysis by Component


Traction motor powers the driving wheels in high-speed trains. The manufacturing of traction motor is engineered specially to ease maintenance. Traction motor is a custom component in a high-speed train. Every high-speed train manufacturer designs its traction motor based on the train's design. Therefore, traction motor manufacturers supply the components with advanced electrical design, efficient energy, and adequate performance/weight ratio. The increasing demand for high-speed railways with efficient operating technologies drives the traction motor segment.


  • Global.abb - The company innovates overall traction systems for high-speed trains, including traction converters, traction motors, and auxiliary converters.


Regional Analysis


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The Asia Pacific region has grown substantially due to its increasing interest in railway network development. Japan being the inventor of high-speed rail, has nine such rail lines serving 22 of its major cities across three main islands. Due to this, Japan accounts for the busiest high-speed rail service worldwide, transporting more than 420,000 passengers daily. Europe is also highly focused on increasing the adaption of eco-friendly transportation mediums within the region. The U.S. seems to struggle with the market due to the lower penetration of high-speed rail in the region.

Key Players Covered



  • 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.


Segmentation




















By Propulsion


By Speed


By Application


By Component


By Region



  • Diesel

  • Electric

  • Dual Power


 



  • 200-299 km/h

  • 300-399 km/h

  • 400-499 km/h



  • Above 500 km/h




  • Passenger

  • Freight




  • Axel

  • Wheelset

  • Converter

  • Transformer

  • Traction Motor

  • Traction System

  • Pantograph




  • North America (U.S., Canada, Mexico)

  • Europe (Germany, France, U.K., and Rest of Europe)



  • Asia Pacific (China, Japan, India, and Rest of APAC)

  • Rest of the World  



Key Industry Developments



  • In October 2020, NHRCL awarded L&T its first high-speed railway contract. The contract value is USD 31.47 million. The contract consists of the design and construction of civil and building works with testing and commissioning on the design of 237 km viaducts, four stations, a depot, and one mountain tunnel for the Mumbai-Ahmedabad High-Speed Rail MAHSR corridor.

  • In January 2022, Alstom, a French rolling stock company, bagged USD 2.05 billion contracts to deliver nearly 200 Coradia Nordic regional trains in Norway by Norske Tog (N.T.). The Norske Tog manages rolling stock for passenger train transport in Norway. The train will have a maximum speed of 160 km/h and includes a train set of six single-deck coaches that will accommodate 778 passengers, which is 40% higher capacity than the trains that will be replaced.





  • Ongoing
  • 2023
  • 2019-2022

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