Transportation constitutes for a substantial chunk of daily lives of all individuals and while the aviation industry is catering to the demands for long distance travel, it still is not cost efficient for a large volume of populations. Back in 2013, entrepreneur Elon Musk had pitched the concept of hyperloop and in the past half a decade, the prototypes have passed the tests to become a reality in the near future. Hyperloops are sealed tubes that supports a pod that can travel free from air resistance and achieve exceptionally greater speeds of up to 760 miles per hour. Apart from Elon Musk’s Boring Company, Virgin Hyperloop is ahead of the curve too, having signed the contract of connecting two metropolitan cities in India.
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In addition to phenomenal speeds that can radically reduce the travel time, installation of hyperloop systems are cost effective and a number of investors are pouring in finances to harness the concept. According to a recent business intelligence study by TMR Research, the demand in the global hyperloop train will increment at an impressive compound annual growth rate (CAGR) during the forecast period of 2017 to 2025.
The report, titled “Hyperloop Train Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” provides in-depth analysis of all factors that will augment or curtail the demand, bifurcates it into smaller segments, gauges the magnitude of demand that will be forthcoming from various countries and regions, and profiles the companies that are currently pioneering this niche field of the overall transportation sector.
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Based on components, the hyperloop train market can be segmented into magnetic levitation, air bearings, high speed wheels, and others. Some of the key companies presently leading the innovation in is field are Hyperloop Transportation Technologies, Virgin Hyperloop One, DGWHyperloop, TransPod, Arrivo, Hyper Chariot, and Hardt Global Mobility.