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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.
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.
The report will cover the following key insights:
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.
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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.
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