Hyperloop is a futuristic transportation technology that focuses on reducing friction against air and the ground for fast transportation. Elon Musk first described the hyperloop technology in 2013. He stated that it would involve carrying passengers through tubes at high speeds (nearly hundreds of miles per hour). Hyperloops offer a potential revolution in transportation systems by achieving aircraft speeds at the ground level. This is achieved by creating a low-pressure environment with no support except that of a magnetic field, which will help the capsule to float in the air and is pushed ahead using electrical energy. Market Industry Reports (MIR) has published a new report titled “Hyperloop Technology Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2022–2030.” According to the report, the Global Hyperloop Technology Market is estimated to account for over US$ 1 billion in 2022. It is anticipated to grow at a CAGR of ~46% from 2022 to 2030.
This tremendous market growth of the hyperloop technology can be attributed to the factors, such as various benefits offered by the technology over conventional modes of transportation. These benefits include speedy, safe, economical, and environment-friendly transportation. The increasing demand for fast transportation among people in developing economies is leading to high demand for fast modes of transportation. Also, the construction of hyperloop networks will attract more tourism, businesses, and industrial sites when compared with areas that are not connected to the network.
Major Key Players of the Hyperloop Technology Market are:
Hyperloop Transportation Technologies, Hyperloop One, Transpod Inc., SPACE EXPLORATION TECHNOLOGIES CORP., DGWHyperloop, Aecom, Tesla, and others.
Hyperloop Transportation Technologies, Hyperloop One, Transpod Inc., SPACE EXPLORATION TECHNOLOGIES CORP., DGWHyperloop, Aecom, Tesla, and others.
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