The market is driven by factors such as the need for rapid mass transit to reduce traffic congestion and journey time coupled with the demand for energy-efficient transport.

The wheel on rail technology segment is estimated to be the largest growing market in the bullet train/high-speed rail market during the forecast period, by technology

The wheel on rail technology segment is estimated to witness the fastest growth in the bullet train/high-speed rail market due to the rising demand for high-speed rail to avert the fatigue associated with alternate modes of transport such as roadways and airways. The exponential rise in high-speed rail ridership in the countries such as China and France has fueled the growth of the bullet train/high-speed rail market. Also, the enhancement of current functional trains in high-speed operation is boosting the growth of the wheel on rail technology of bullet train/high-speed rail.

Axle and wheelset components of bullet train/high-speed rail, by component, are likely to witness the fastest growth as well as largest share in the market. These components are installed in large numbers in a bullet train/high-speed rail making it the leading component in terms of growth.

The electric propulsion segment is estimated to be the largest as well as the fastest growing market segment in 2018. The segment is anticipated to grow at a rapid pace due to its energy-efficient operation with high operating speed for high-speed trains. Also, the government authorities of various countries are encouraging energy-efficient transporting modes which in turn boosting the growth of the electric propulsion segment of the market.

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Europe is one of the leading regional markets for bullet train/high-speed rail market

Europe is projected to be the second fastest growing bullet train/high-speed rail market by 2025. The market growth in the region can be attributed to the rising demand for energy-efficient transport coupled with enhanced comfort and safety in the transit system. Moreover, the consistent increase in passengers in high-speed rail is boosting the demand for high-speed trains. These factors are expected to trigger the growth of the bullet train/high-speed rail market in the region.

The key players in the bullet train/high-speed rail market include Bombardier (Canada), Alstom (France), Siemens (Germany), Hitachi (Japan), ABB (Switzerland), Talgo (Spain), CAF (Spain), Kawasaki (Japan), Toshiba (Japan), CRRC (China), and Mitsubishi (Japan).
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