Hyperloop Technology Market Size, Share | Industry Growth & Analysis

 

Hyperloop Technology Market

The Hyperloop Technology Market is anticipated to grow at a robust CAGR during the forecast period (2021-2028).

The factors driving the growth of Hyperloop Technology Market includes increasing traffic congestion, over-burdening of public transportation systems across the world and growing emphasis on using renewable sources of energies. According to Hindu, the daily ridership of Delhi Transport Corporation (DTC) buses has significantly increased from 30.15 Lakh from 2019-2020 to reach 33.31 lakh in 2020-21 and rise of more than 5 Lakh vehicles were observed till March 31st, 2020, recording 4% jump as compared to 2020, which will boost the demand for Hyperloop technology in the approaching years. Moreover, the growing demand for faster mode of transportation, rising environment concerns related to carbon emissions and rapid industrialization, are some of the additional factors supplementing the Global Hyperloop Technology Market. In addition, collaboration between Governments and research institutions for developing hyperloop technology, is propelling the market growth, for instance, the Indian Railways and Indian Institute of Technology Madras (IIT-M) are collaborating to develop hyperloop transport technology in India at a cost of INR 8.34 Crore.

However, the growth of Hyperloop Technology Market is hindered due to security and safety concerns for passengers.

The leading players operating in the market are VicHyper, Dinclix GroundWorks Private Limited., Virgin Hyperloop, Hyperloop Transportation Technologies, Uwashington Hyperloop, AECOM, Tesla, Inc., Hardt B.V., TRANSPOD and Zeleros among others.

Carriage Type – Segment Analysis

Based on Carriage Type, the Passenger segment is anticipated to expand at a significant CAGR over the forecast period due to growing emphasis on expanding the hyperloop networks to different cities and reducing the overall commute time.

Speed – Segment Analysis

Based on Speed, the More than 700 Kmph segment is projected to grow a faster to grow CAGR over the forecast period because hyperloop transportation offers high speed offered at almost zero direct emissions, it travels significantly faster than Japan’s world class Shinkansen bullet trains.

Regional – Segment Analysis:

Based on region, the Asia-Pacific region captured the highest market share during the forecast period. The growing emphasis on developing new hyperloop transportation networks, overcrowding of road networks, high population levels, rapid industrialization and increasing economic activities in the developing Countries such as India, Indonesia, China, and Vietnam, are some of the crucial factors enhancing the growth of Asia-Pacific region.

Market Segmentation

Global Hyperloop Technology Market by Transportation System

  • Capsule
  • Guideway
  • Propulsion System
  • Route

Global Hyperloop Technology Market by Carriage Type

  • Passenger
  • Cargo/Freight

Global Hyperloop Technology Market by Speed

  • More than 700 kmph
  • Less than 700 kmph

Global Hyperloop Technology Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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