A report, "Global Hyperloop Technology Market" has been recently published by Market Industry Reports (MIR). As per 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.
The market growth can be attributed to several factors such as various benefits offered by the technology over conventional modes of transportation. These benefits include speedy, safe, cost-effective, and environment-friendly transportation. The increasing need for fast transportation in developing economies is leading to a high demand for efficient modes of transportation. Other factors, such as governments of various countries and key investors raising funds for the technological development of hyperloops are expected to propel market growth. Also, companies are entering into partnerships with leading players and collectively investing to scale up the hyperloop technology. These factors are expected to positively impact growth of the hyperloop technology market.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.
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