Hyperloop Technology Market Size and Growth Rate:
According to our research report, the Hyperloop Technology Market size is poised to reach USD 1,870 million by the end of 2022 from USD XX Billion in 2017 and this market witnessed a growth rate of 23.25% during the forecast period 2018-2022.
Hyperloop Technology Market Overview:
Hyperloop is a concept for very high-speed, fixed-guideway, intercity surface transportation, using capsule-like vehicles that operate in sealed partial-vacuum tubes. At this stage, the technology is unproven, but it has elicited a great deal of interest from journalists, investors, engineering firms, and government organization. The various hyperloop proponents make much of the idea that hyperloop would be completely powered by solar technology. While that is certainly not true of air travel, both maglev and HSR are electrically powered and could be powered by solar if desired. It is not clear how much energy would be needed to operate hyperloop but most routes would be two to three times more energy efficient than air travel per passenger mile
Hyperloop Technology Market - Growth Drivers and Opportunities:
Tube is a tunnel or an encapsulated pathway or a track, where hyperloop pod travels. Tube is contained with near vacuum pressure to reduce the air drag on capsule motion. The near vacuum atmosphere in tube is controlled by installing vacuum/pressure/evacuating pumps at regular intervals along the tube length and maintain a pressure around 5 to 6 pounds per square inch. Currently, these tubes are made of steel. Hyperloop tubes would be either constructed above or below the ground, occupying a smaller area than a traditional rail or road. Above the ground tubes are supported by pylons, and each tube is welded or bolted together in a side by side configuration, and allows the capsule/pod to travel both directions. So far the constructed hyperloop tubes are above the ground due to following benefits.
The energy obtained from these solar panels are used to satisfy the operational need of the Hyperloop, as power generated through the solar panels is much more than power consumed by propulsion and evacuating pumps. Additionally, the solar energy can be stored in battery packs for operation during cloudy and rainy conditions, and during nights.
Hyperloop Technology Market - Regional Analysis:
Asia-Pacific is likely to lead the hyperloop technology market globally. China is expanding its transportation network rapidly and trying to bring down the costs related to freight hauling. Being a developing country, China spends about 15% of its GDP on logistics, which makes it incompetent compared to the West, where the average stands at around 10%-12% of the GDP. Hyperloop technology can transport goods at a fraction of the time taken by conventional road or rail transport. India is inviting foreign companies to come to India, and make hyperloop technology into realty. Asia-Pacific is followed by Europe. The United Kingdom shows a tremendous potential for the implementation of hyperloop system, as the country’s current transportation systems are operating beyond the capacity. This is because of London being a congested city, with over one million people travelling across central London each working day, increasing its daytime population six times.
Prominent Companies in the Hyperloop Technology Market analyzed in the report are:
- Hyperloop Transportation Technologies
- Virgin Hyperloop One
- Transpod Inc
- Tesla Inc
This research report includes following segmentation for the Hyperloop Technology Market size and forecast until 2022:
Hyperloop Technology Market – By System Type:
- Capsule
- Tube
- Propulsion System
- Others
Hyperloop Technology Market – By Carriage Type:
Hyperloop Technology Market – By Geography:
North America
Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
Asia-Pacific
- China
- India
- Japan
- South Korea
Latin America
Middle-East & Africa
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