Global Bullet Train Market Report and Forecast 2024-2032

Global Bullet Train Market Outlook

The global bullet train market size is assessed to grow at a CAGR of 5.7% between 2024 and 2032. The market is being driven by the growing demand for sustainable transportation modes and increasing investments by governments in the railway sector.

Key Trends in the Market

Bullet trains are trains that operate on high-speed railway networks and can reach a maximum speed of 320 km/h. They offer time-efficient and unique travel experiences to passengers and are commonly known as ‘Shinkansen’ in Japan. Bullet trains can help reduce the reliance on personal mobility solutions, decrease road congestion, and aid the decarbonisation of the transportation sector.

• The introduction of government initiatives aimed at developing high-speed trains is one of the prominent bullet train market trends. With rapid industrialisation, growing traffic congestion, and increasing population levels, especially in developing countries like India, bullet trains can improve connectivity, minimise travel times, and positively impact economic development.

• The rising demand for sustainable modes of transportation and the growing concerns regarding deteriorating quality of life due to rising pollution levels are positively influencing the bullet train market growth. High-speed trains can carry a larger number of passengers as compared to aircraft, produce minimal carbon emissions, can operate in different weather conditions, and can transport heavier loads than conventional trains, among others.

• The bullet train market demand is expected to be fuelled in the forecast period by the rising utilisation of automation technologies. Key players are deploying advanced technologies as well as robots to automate high-speed rail network construction and minimise the requirement for labourers in challenging tasks.

Market Analysis

Based on propulsion, the market is segmented into diesel, electric, and dual power. On the basis of speed, the market can be divided into 200 to 299 Km/h. 300 to 399 Km/h, 400 to 499 Km/h, and above 500 Km/h.

By component, the bullet train market segmentation includes traction motor, axle, wheelset, converter, and transformer, among others. The market, on the basis of technology, is bifurcated into wheel on rail and maglev.

Based on application, the market categorisation includes passenger and freight. The major regional markets for bullet train include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global bullet train market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Thales Group 

• Siemens AG 

• ABB Ltd. 

• CRRC Corporation Limited 

• Hitachi Ltd. 

• Fuji Electric Co., Ltd.,  

• Kinki Sharyo Co Ltd 

• Alstom SA 

• Construcciones y Auxiliar de Ferrocarriles, S.A. 

• Patentes Talgo S.L.U.  

• Others

Market Share by Application

Passenger accounts for a substantial portion of the bullet train market share due to the rising demand for sustainable transportation modes among environmentally conscious passengers. The affordability, rapid commute time, convenience, dependability, and comfortability offered by bullet trains also make them an appealing choice for passengers.

Moreover, the increasing number of rail passengers, especially in countries like Japan, China, and South Korea, among others, is positively influencing the segment’s growth.

Market Share by Region

As per the bullet train market analysis, the Asia Pacific accounts for a significant share of the market owing to the increasing development of high-speed rail networks in the region. Countries such as Indonesia and China in the region are attempting to develop bullet trains to provide reliable and time-saving transportation services. Moreover, increasing investments in the upgradation and replacement activities of bullet trains by governments in the region are expected to positively impact the market in the forecast period.

Competitive Landscape

CRRC Corporation Limited, also known as China Railway Rolling Stock Corporation, is a Chinese supplier of rail transit equipment. Its business encompasses designing, manufacturing, leasing, selling, R&D, and technical services for urban rail transit vehicles, rolling stock, and electronic parts and equipment, among others. Established in 2015, the company has constantly upgraded its capabilities and has played an instrumental role in China’s railway industry.

Thales Group is a global technology company with expertise in the aeronautics and space, security and defence, and digital identity sectors. Its products and solutions are aimed at making the world safer, greener, and more inclusive. With a wide employee base in 68 countries across the world, the company invests extensively in R&D activities in areas such as 6G, quantum technologies, edge computing, and security.

ABB Ltd. is a leader in technologies such as automation and electrification that is based in Zurich, Switzerland. Its solutions and products are aimed at creating a resource-efficient and sustainable future and accelerating industrial transformation. In addition, the company offers energy-efficient and innovative technologies to the railway industry and develops and services subsystems and components utilised in rail infrastructure.

Other bullet train market players include Siemens AG, Hitachi Ltd., Fuji Electric Co., Ltd., Kinki Sharyo Co Ltd, Alstom SA, Construcciones y Auxiliar de Ferrocarriles, S.A., and Patentes Talgo S.L.U., among others.

Key Highlights of the Report