Maglev Trains Market Size, Share And COVID-19 Impact Analysis, By Type (Electro Magnetic Levitation And Super Conductor-Based Levitation), By Levitation Technique (Electromagnetic Suspension (EMS), Electrodynamic Suspension (EDS), And Inductrack System (Permanent Magnet EDS)), By Application (Urban Transport, Intercity, And Others) And Regional Forecast, 2024-2032

Maglev trains are a type of train transportation system that utilizes electromagnets for transportation instead of railroad wheels. The system incorporates two electromagnets, one set repels and pushes the train off the tracks, while another set moves the elevated vehicle ahead by taking advantage of the lack of friction.

In maglev technology, the trains travel on a guided path of electromagnets which controls the train’s stability and speed. Maglev trains require no additional parts for propulsion and levitation and use fewer components than electric trains, which utilize several parts per boogie. This results in much quieter and smoother operations while achieving higher speeds.

The demand for the development of Maglev Trains is due to the numerous benefits offered compared to conventional trains, such as low parts consumed, low noise produced, and the ability of maglev technology to achieve higher speeds. Additionally, incorporating maglev trains lowers the turbulence levels since air is the only source of friction.

Incorporating maglev technology is highly environmentally friendly as no direct emissions from moving vehicles affect air quality. Furthermore, the increasing adoption of cleaner energy in grids thus lowers pollution significantly.  These few factors are driving the efforts for enhanced R&D efforts and the adoption of maglev technology across various regions.

Impact of COVID-19 on the Maglev Trains Market

The pandemic introduced a temporary worldwide shutdown in every industry sector. This temporary shutdown impacted various industries negatively, leading to revenue decline, loss of product sales, slowed production rate, unemployment, and many other severe impacts. This led to an economic downturn as the majority of the manufacturing facilities were suspended or working at half capacity.

The Maglev Trains technology witnessed a temporary shutdown due to nationwide lockdowns in various countries. Suspended manufacturing sites and research & development centers resulted in a slower adoption and development of maglev technology globally. However, due to maximum business being shut and most of the populace stuck indoors, the overall emission rates were drastically reduced, resulting in a cleaner and greener environment. This led to a large-scale awareness regarding climate concerns and environmental matters.

Post-pandemic many leading players accelerated their R&D to reduce carbon footprints and contribute to clean air solutions. For instance, in September 2020, BHEL partnered with SwissRapide AG to bring Maglev high-speed trains to India. The company expects to utilize maglev technology in urban transportation in the coming years.

Key Insights

The report will cover the following key insights:

• Key Industry Developments – Mergers, Acquisitions, and Partnerships.


• Porter's Five Forces Analysis.


• SWOT Analysis.


• Technological Developments.


• Pricing Analysis.


• Impact of COVID-19 on the market.

Regional Analysis

The Asia Pacific region is estimated to dominate the Maglev Trains market over the forecast period. The market's growth in the Asia-Pacific region is due to higher adoption rates in countries such as China, Japan, and South Korea. Since maglev technology is at an initial development stage, very few economies can support a suitable infrastructure for maglev technology. Similarly, it is expected that in the coming years, European regions are expected to integrate maglev technology to a greater extent, with Germany leading in the European region.

Key Players Covered

The report includes the profiles of key players such as Agile Setu Pvt. Ltd; CRRC Qingdao Sifang Co; Central Japan Railway Company; Hitachi, Ltd.; Hyundai Rotem Company; Max bögl; Northeast Maglev; SwissRapide AG; Shanghai Maglev Transportation Development Co., Ltd, WPS and a few others.

Segmentation

Key Industry Developments

October 2022: China unveiled its high-speed maglev train capable of reaching 600 kph. CRRC unveiled the high-speed train during a train fair hosted in Germany. The company claimed a successful test run conducted in China.