Hyperloop Technology in Transportation Market Size & Share, by Type (Freight, Passenger); Component (Tubes, Pods, Terminals); Speed (Less than 760 mph, Above 760 mph) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2031

  • Report ID: 3855
  • Published Date: Feb 06, 2023
  • Report Format: PDF, PPT

Global Hyperloop Technology in Transportation Market Highlights over 2022 – 2031

The global hyperloop technology in transportation market is estimated to grow at a CAGR of ~45% over the forecast period, i.e., 2022 – 2031. Hyperloop technology is an advanced concept of facilitating transportation in a vacuum tunnel or pod. The vacuum inside the tunnel can reduce air resistance, which can significantly increase the speed of the vehicle. The growth of the market can be attributed to the increasing innovation in transportation technology. Moreover, features, such as, high speed, low-cost maintenance, and requirement of less area of land, are further estimated to boost the market growth. In addition to this, increasing investment for the development of new technology, by private as well as public companies, is also foreseen to substantially promote the market growth. According to the data by the World Bank, USD 53,287,910 were invested in transport, with private participation, in low- and middle-income countries, in 2019.

Hyperloop Technology in Transportation Market

The market is bifurcated by type into freight, and passenger, out of which, the freight segment is anticipated to hold the largest share in the global hyperloop technology in transportation market over the forecast period on account of increasing investment in freight transport infrastructure. Moreover, increasing import and export of perishable items is estimated to surge the demand for faster transport, which is expected to boost the market growth. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Research and Development Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Hyperloop Technology in Transportation Market Regional Synopsis

On the basis of geographical analysis, the global hyperloop technology in transportation market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the growing investment for research and development activities. Moreover, various privately-owned companies in the United States, are working on the concept of hyperloop, which is further estimated to boost the regional market growth. Furthermore, the adoption of advanced technology in the region, is also anticipated to propel the market growth.

Hyperloop Technology in Transportation Market ShareThe global hyperloop technology in transportation market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global hyperloop technology in transportation market includes the following segments:

By Type

  • Freight
  • Passenger

By Component

  • Tubes
  • Pods
  • Terminals

By Speed

  • Less than 760 mph
  • Above 760 mph

Growth Drivers

  • Lower Travel Cost and Time
  • Requirement of Less Maintenance for Infrastructure
  • Increasing Investment in Innovation and Advancement of Technology

Challenges

  • Unpredictable Safety Issues and Complications with Human Travel
  • Lack of Any Emergency Evacuation System

Top Featured Companies Dominating the Market

Dinclix GroundWorks Private Limited, TransPod Inc., Hyperloop Technologies, Inc. (Virgin Hyperloop LAHQ), Hardt B.V., Zeleros Global SL, and Nevomo are some of the major companies working on the concept of hyperloop technology.


In-the-news

In the News

  • December, 2020: The Technology Innovation Institute signed an agreement with Virgin Hyperloop LAHQ to accelerate research and development of hyperloop technology.

  • July, 2019: Technical University of Munich (TUM) set a hyperloop speed record of 463 km/h (288 mph) in Hyperloop pod competition research program.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 3855
  • Published Date: Feb 06, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing investment in development of innovative technology is estimated to boost the market growth.

The market is anticipated to attain a CAGR of ~45% over the forecast period, i.e., 2022 – 2031.

The North America region is anticipated to provide more business opportunities over the forecast period owing to the rising adoption of advanced technology in the region.

The major players in the market are Dinclix GroundWorks Private Limited, TransPod Inc., Hyperloop Technologies, Inc., Hardt B.V., Zeleros Global SL, Nevomo, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, component, speed, and by region.

The freight segment is anticipated to hold largest market over the forecast period and display significant growth opportunities.

Unpredictable safety issues and complications with human travel are estimated to hamper the market growth.
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