Market Research Future published a research report on “Hyper loop Technology Market Research Report- Forecast 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
Hyper loop Technology Global Market – Overview
The Global Hyper loop Technology Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of hyper loop technology will grow moderately over the forecast period. The market is forecasted to witness slow but steady growth by 2027, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2027).
The Hyper Loop Technology Market is driven by the factors such as the rising demand for fastest mode of transportation, increasing demand for cheapest transportation, better infrastructure facilities and technology which is not vulnerable to natural calamities. Furthermore, the increasing industrialization is boosting the growth of the market.
On the other hand, lack of awareness, various security issues is one of the major factors likely to pose challenges to the Market Growth. Adversely, some predominant trends such as constantly increasing demand for improved efficiency and performance of connected machines across transportation industries, such as railway, aircraft, and others are certainly going to provide impetus to the market growth of hyper loop technology market.
Characterized by the presence of several major well-established players, the global market of hyper loop technology appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. These Players invest heavily in the R&D to develop a technology that is completely on a different level compared to their competition. These vendors are constantly bringing innovations in the hyper loop technology market, introducing advent hyper loop technology applications to the world. Further, the estimated growth of hyper loop technology market will certainly going to make the industry players and trade partners across the globe to sit pretty in the market.
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Hyper loop technology offers various advantages such as safety measure, faster mode of transportation, more convenient, lower cost and resistant to earthquakes among others is another concept being associated with the evolution of hyper loop technology. The cutting-edge technologies capabilities to deliver ultra- high-speed ground transportation system propelling the hyper loop technology market growth to the large extent.
Industry/ Innovation/ Related News:
- June 2017 –Hyper loop Transportation technologies an American research company signs an agreement with the Korea Institute of Civil Engineering and Building Technology (KICT) and Hanyang University to develop a full scale hyper loop system known as the Hyper Tube Express within Korea.
- January, 2017 – AECOM had selected to design and build hyper loop test track as part of the SpaceX Hyper loop Pod competitions. The company is delivering high-speed transport which uses a network of low-pressure tubes and air-cushioned pods traveling. Company is manufacturing vacuum-sealed, high-speed proving ground for transport pod prototypes which is widely used in transportation system.
- Nov 08, 2016 – Hyper loop one had taken a major steps towards future of transportation industries in Dubai. The company went into agreement with McKinsey & Co. and the Bjarke Ingels Group (BIG) to move towards next stage of progress in Dubai.
The prominent players in the market of hyperloop technology are- Space Exploration Technologies Corporation (U.S.), Virgin Hyperloop One (U.S.), Hyperloop Transportation Technologies (U.S.), TransPod (Canada), Dinclix GroundWorks Global Limited (India), Arrivo (U.S.), Hardt Global Mobility (The Netherlands), Hyper Chariot (U.S.), Zeleros (Spain).
Segments of Global Hyper loop Technology Market:
For the purpose of this study, the hyper loop technology report is segmented into component, type, application and region.
- Type – Freight, Passenger
- Component– Tube, Capsule, Propulsion, Others
- Application – Aircraft, Railways, Other
Regional Analysis of Global Hyper loop Technology Market:
The U.S. is expected to be the initiator of the market with the first operational hyper loop being expected to be built between Los Angeles and California. The U.S. also has other factors such as an innovation economy, huge capital investment power, growing start-up funding and government approval to develop hyperloop technology. The U.S. has also emerged as the venue for the Hyperloop one global challenge, with teams competing to develop and present hyperloop route plans.
Europe is expected to be the second largest market, which is expected to be led by France, U.K. and Germany.
Asia Pacific is another region which is expected to take a strong growth. Japan and South Korea are expected to be the fastest growing regions and technology initiators. For instance, in June 2017, U.S. based Hyperloop Transportation technologies, Korea Institute of Civil Engineering and Building Technology (KICT) and Hanyang University signed an agreement to co-develop HyperTube Express, a full scale hyper loop system in South Korea.
The Middle East and Africa is expected to have the highest potential and will be almost completely dominated by the Gulf economies of UAE, Qatar, and Saudi Arabia. The Africa region is expected to be the laggard due to poor spending power and socio-economic development.
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