Hyperloop Technology Market
Hyperloop Technology Market Size, Share & Trends Analysis Report, By Transportation System (Tube, Propulsion, Capsule, Route, and Others), By Carriage Type (Passenger and Cargo/Freight), Forecast Period (2022-2028) Update Available - Forecast 2024-2030
Hyperloop technology market is anticipated to grow at a CAGR of 40.9% during the forecast period. One of the key factors that are fueling the market growth is the proposed speed it offers to commute, which runs at an average speed of 600 miles per hour (mph). In such a mode of transportation, pods travel through tubes that are vacuum-sealed and can reach a speed of about 500 mph. A hyperloop system empowers pods to run at high speeds and have efficient propulsion owing to the low air pressure inside the tube, which avoids the outside air friction from limiting the pod's speed. This transportation can resolve most of the transportation issues which offers an opportunity for market growth. Moreover, this transportation is considered less expensive than other alternative options. For instance, in June 2021, at a House hearing, the head of one of the hyperloop companies projected a structure cost of about $54 million per mile. By inexact comparison, the cost of California's high-speed rail mission is projected at $154 million per mile and rising.
Segmental Outlook
The global hyperloop technology market is segmented based on the transportation system and carriage type. Based on the transportation system, the market is segmented into tube, propulsion, capsule, route, and others. Based on the carriage type, the market is segmented into passenger and cargo/freight. The above-mentioned segments can be customized as per the requirements. Based on carriage type, the passenger segment is anticipated to hold the prominent share in the market as most companies are concentrating on commuters for gaining a larger share, while, based on the transportation system, the capsule market is anticipated to grow at a significant rate during the forecast period owing to its infrastructure, and shape which reduces its aerodynamic resistance and increases its speed.
Based on carriage type, the passenger segment is anticipated to hold a prominent share in the market during the forecast period as several companies are concentrating on commuters for gaining a larger share of the market by connecting prominent cities and countries. It is anticipated to decrease traveling time by multiple hours. For instance, in November 2020, two passengers tested to travel in one levitating hyperloop capsule of Virgin Hyperloop, which traveled at 100 miles per hour (mph) through a close-airless tunnel in the Nevada desert. The company carried out a 15-second-long test trip at its DevLoop site 35 miles north of LV in Nevada, which comprised a 500-meter concrete tube situated in a barren stretch of desert.
Regional Outlooks
The global hyperloop technology market is further segmented based on geography including North America (the US and Canada), Europe (UK, Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Asia-Pacific region is anticipated to hold a prominent share in the market owing to the rapid expansion of China in its transportation network, while, North America is anticipated to hold a significant market share during the forecast period owing to the presence of prominent market players.
Global Hyperloop Technology Market Growth, by Region 2022-2028
Asia-Pacific to Witness Prominent Share in the Global Hyperloop Technology Market
Asia-Pacific region is anticipated to hold a prominent share in the market during the forecast period owing to the rapid expansion of China in its transportation network which can bring down the prices connected to freight hauling. Being an emerging country, China invests around 15% of its GDP on logistics, which makes it inept as compared to the countries in the West, where the average stands at nearly 10% to 12% of the GDP. However, hyperloop technology can carriage products at a fraction of the time occupied by rail transport or conventional road. Such developments are also occurring in the other countries of the region. For instance, in February 2020, Richard Branson’s owned company, Virgin Group, stretched out to the Transport Minister of India, Nitin Gadkari, with an offer for establishing a hyperloop transportation system between Mumbai and New Delhi after the Maharashtra government decided for shelving the company’s proposed project.
Market Players Outlook
The major companies serving the global hyperloop technology market include AECOM Inc., Hyperloop Transportation Technologies, Space Exploration Technologies Corp., TransPod Inc., and Virgin Hyperloop LAHQ. The market players are contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2022, The Indian Ministry of Railways collaborated with IIT Madras for developing an "indigenous" Hyperloop system. The Railway ministry is going to support in setting up of a Centre of Excellence for Hyperloop Technologies at IIT Madras. The Ministry of Railways was approached by the institute in March-2022 with a proposal for collaborative working.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global hyperloop technology market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Recovery Scenario of Global Hyperloop Technology Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. AECOM Inc.
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Hyperloop Transportation Technologies
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Space Exploration Technologies Corp.
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. TransPod Inc.
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. Virgin Hyperloop LAHQ
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Hyperloop Technology Market by Transportation System
4.1.1. Tube
4.1.2. Propulsion
4.1.3. Capsule
4.1.4. Route
4.1.5. Others
4.2. Global Hyperloop Technology Market by Carriage Type
4.2.1. Passenger
4.2.2. Cargo/Freight
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Arrivo Corp.
6.2. Badgerloop
6.3. Delft Hyperloop
6.4. Dinclix GroundWorks (DGWHyperloop)
6.5. Hardt B.V.
6.6. MIT Hyperloop III
6.7. Nevomo Poland Sp. z o.o
6.8. Tesla, Inc.
6.9. VicHyper
6.10. Zeleros Global SL
1. GLOBAL HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY TRANSPORTATION SYSTEM, 2021-2028 ($ MILLION)
2. GLOBAL TUBE HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL PROPULSION HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL CAPSULE HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL ROUTE HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL OTHER HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY CARRIAGE TYPE, 2021-2028 ($ MILLION)
8. GLOBAL HYPERLOOP TECHNOLOGY FOR PASSENGER CARRIER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL HYPERLOOP TECHNOLOGY FOR CARGO/FREIGHT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
11. NORTH AMERICAN HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
12. NORTH AMERICAN HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY TRANSPORTATION SYSTEM, 2021-2028 ($ MILLION)
13. NORTH AMERICAN HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY CARRIAGE TYPE, 2021-2028 ($ MILLION)
14. EUROPEAN HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
15. EUROPEAN HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY TRANSPORTATION SYSTEM, 2021-2028 ($ MILLION)
16. EUROPEAN HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY CARRIAGE TYPE, 2021-2028 ($ MILLION)
17. ASIA-PACIFIC HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
18. ASIA-PACIFIC HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY TRANSPORTATION SYSTEM, 2021-2028 ($ MILLION)
19. ASIA-PACIFIC HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY CARRIAGE TYPE, 2021-2028 ($ MILLION)
20. REST OF THE WORLD HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
21. REST OF THE WORLD HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY TRANSPORTATION SYSTEM, 2021-2028 ($ MILLION)
22. REST OF THE WORLD HYPERLOOP TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY CARRIAGE TYPE, 2021-2028 ($ MILLION)
1. GLOBAL HYPERLOOP TECHNOLOGY MARKET SHARE BY TRANSPORTATION SYSTEM, 2021 VS 2028 (%)
2. GLOBAL TUBE HYPERLOOP TECHNOLOGY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
3. GLOBAL PROPULSION HYPERLOOP TECHNOLOGY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
4. GLOBAL CAPSULE HYPERLOOP TECHNOLOGY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
5. GLOBAL ROUTE HYPERLOOP TECHNOLOGY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL OTHER HYPERLOOP TECHNOLOGY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL HYPERLOOP TECHNOLOGY MARKET SHARE BY CARRIAGE TYPE, 2021 VS 2028 (%)
8. GLOBAL HYPERLOOP TECHNOLOGY FOR PASSENGER CARRIER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL HYPERLOOP TECHNOLOGY FOR CARGO/FREIGHT CARIER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL HYPERLOOP TECHNOLOGY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
11. US HYPERLOOP TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
12. CANADA HYPERLOOP TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
13. UK HYPERLOOP TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
14. FRANCE HYPERLOOP TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
15. GERMANY HYPERLOOP TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
16. ITALY HYPERLOOP TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
17. SPAIN HYPERLOOP TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
18. REST OF EUROPE HYPERLOOP TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
19. INDIA HYPERLOOP TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
20. CHINA HYPERLOOP TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
21. JAPAN HYPERLOOP TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
22. SOUTH KOREA HYPERLOOP TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
23. REST OF ASIA-PACIFIC HYPERLOOP TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
24. REST OF THE WORLD HYPERLOOP TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
