From $2.7 Billion to $5.6 Billion : Maglev Train Market Growth by 2035 Growing at a CAGR of 7.4%

WILMINGTON, NEW CASTLE, DE, UNITED STATES, January 10, 2025 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, Maglev Train Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Technology, by Application, by Top Speed : Global Opportunity Analysis and Industry Forecast, 2025-2035. The global maglev train market is expected to be valued $2.7 billion in 2025, and is projected to reach $5.6 billion by 2035, growing at a CAGR of 7.4% from 2025 to 2035.

The concept of maglev train is typically attributed to the transportation option that uses an electromagnetic propulsion technology on both the tracks and the train itself. This levitation greatly reduces friction, potentially allowing the train to move faster and consume less power due to better acceleration, traction, and braking system. Maglev train systems have several benefits over conventional rail transportation systems as they produce no air pollution during operation, because no fuel is being burned, and the absence of friction makes the trains very quiet (both within and outside the cars) and provides a very smooth ride for passengers. Hence, maglev technology is considered an environment-friendly system of travel. Governments of developing countries are investing significantly to meet the latest technology setups required for maglev trains. For instance, in China, the Zhejiang provincial government announced in April 2020 to build a maglev train connecting Shanghai with Ningbo via Hangzhou. Moreover, in September 2020, Bharat Heavy Electricals Limited (BHEL) signed a memorandum of understanding (MoU) with SwissRapide AG to develop maglev train infrastructure in India.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/A09096

In addition, the maglev train market share has witnessed significant growth in recent years, owing to rise in level of safety offered by the maglev trains, surge in harmful emissions from the vehicles, growth & expansion of high-speed railway corridor, and growth in number of tests of prototypes. Furthermore, companies operating in the maglev train market have adopted partnerships, investments, and product launches to increase their market share and expand their geographical presence. For instance, in June 2021, Max Bögl Group launched its Transrapid, a high-speed maglev train after working for several years. The engine of this train is rolled out as a copper cable over the entire route and is fully automated and completely integrated into the vehicles and the stretch of track.

The factors such as rise in demand for secure, safer, and efficient transport system, increase in allocation of budget for development of railways, and rise in use of public transport services as a solution to minimize traffic congestion supplement the growth of the maglev train market. However, high capital requirement and refurbishment of existing rails are the factors expected to hamper the growth of the market. In addition, improvement in railway infrastructure in developing countries and increase in development & testing of maglev trains creates opportunities for the key players operating in the maglev train market.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

The COVID-19 crisis created uncertainty in the maglev train market. Governments of different regions announced total lockdown and temporarily shutdown of industries, thereby adversely affecting the overall production and sales. Following the directions of the World Health Organization (WHO) for minimizing the spread of the virus, governments of various countries have set up lockdown and trade restrictions, which has disrupted the exports, especially from China, causing large scale manufacturing interruptions across Europe, and the closure of assembly plants in the U.S. The situation introduced intense pressure on the rolling stock industry. The railway department has shut down all the passenger train services and has limited its freight transport services with a reduction in demand for commodities and disturbed supply chain. In addition, the leading market players are taking various measures to deal with the negative effects of the outbreak of COVID-19. For instance, in 2020, Japan revealed its plans to conduct tests of a new prototype maglev train. Further, government authorities, and operators are expected to accelerate and resume maglev projects which were halted and expansion of the rail network after pandemic, which is anticipated to positively affect the growth of the maglev train industry in post pandemic situation.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/maglev-train-market/purchase-options

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

Alstom,

Medha Servo Drives Pvt. Ltd.,

Central Japan Railway Company,

Mitsubishi Heavy Industries, Ltd.,

Max bögl,

Hyundai Rotem Company,

SwissRapide AG,

WSP,

American Maglev Technology, Inc.,

Bharat Heavy Electricals Ltd,

Northeast Maglev,

CRRC Corporation Limited (CRRC),

East Japan Railway Company,

Hitachi, Ltd.,

Agile Setu Pvt. Ltd,

Shanghai Maglev Transportation Development Co., Ltd.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/A09096

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

By type, the normal conducting magnetic levitation segment dominated the global maglev train market in terms of growth rate.

By technology, the inductrack system (permanent magnet passive suspension) segment dominated the global maglev train market in terms of growth rate.

By application, the freight segment dominated the global maglev train market in terms of growth rate.

By top speed, the high segment dominated the global maglev train market in terms of growth rate.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

Flying Car Market
https://www.alliedmarketresearch.com/flying-car-market-A12515

Off-Road Vehicle Market
https://www.alliedmarketresearch.com/off-road-vehicle-market-A12517

Inland Vessels market
https://www.alliedmarketresearch.com/inland-vessel-market-A13092

Europe Turbocharger Market
https://www.alliedmarketresearch.com/european-turbocharger-market

Go Kart Market
https://www.alliedmarketresearch.com/go-kart-market-A13131

Railway Cybersecurity Market
https://www.alliedmarketresearch.com/railway-cybersecurity-market-A12189

𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.