Bullet Train or High-Speed Rail Market Report 2026

The bullet train or high-speed rail market size has grown strongly in recent years. It will grow from $46.22 billion in 2025 to $50.19 billion in 2026 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to government rail investments, urbanization growth, demand for fast intercity travel, rail infrastructure modernization, public transport expansion.

The bullet train or high-speed rail market size is expected to see strong growth in the next few years. It will grow to $67.6 billion in 2030 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to decarbonization of transport, smart rail systems deployment, cross-border rail projects, advanced traction systems adoption, digital rail operations. Major trends in the forecast period include expansion of high-speed rail networks, adoption of maglev technology, demand for energy-efficient trains, growth of urban connectivity projects, focus on passenger comfort.

The increase in demand for public transport services is expected to propel the growth of the bullet train or high-speed rail market going forward. Public transport is a system of shared transportation services, including buses, trains, and subways, accessible to the general public for efficient urban and regional mobility. The demand for public transport is driven by the need to address urban congestion, environmental concerns, cost-effectiveness, convenience, and changing societal preferences. Bullet trains or high-speed rail (HSR) systems serve as a crucial component of public transport by providing a fast, efficient, and sustainable means of travel that complements other forms of transportation. For instance, in April 2024, according to the American Public Transportation Association, a US-based nonprofit organization, annual public transit ridership reached 7.1 billion trips in 2023, a 16% increase from 2022. Therefore, the demand for public transport services is driving the growth of the bullet train or high-speed rail market.

Major companies operating in the bullet train or high-speed rail market focus on developing innovative technologies, such as high-speed rail services, that can reduce travel time. High-speed rail (HSR) is a type of passenger rail transport that operates significantly faster than traditional rail systems, using specialized rolling stock and dedicated tracks. For instance, in October 2023, the Indonesian government launched Whoosh, Southeast Asia's first high-speed railway, capable of reaching speeds up to 350 km/h, cutting travel time from 2-3 hours to 40 minutes. The high-speed rail line is expected to boost connectivity and economic development.

In May 2024, Hitachi Rail, a Japan-based company specializing in the manufacturing of rolling stock and railway signaling systems, which plays a key role in high-speed rail and urban transit solutions, acquired Thales' Ground Transportation Systems for €1.66 billion. This acquisition is aimed at strengthening its focus on rail signaling and digital services, significantly expanding Hitachi's global presence and revenue potential in the rail industry. Thales Ground Transportation Systems, a France-based company, specializes in advanced rail signaling and control systems, improving safety and efficiency in rail operations.

Major companies operating in the bullet train or high-speed rail market report include CRRC Corporation Limited, Alstom SA, Siemens AG, Hitachi Ltd, Kawasaki Heavy Industries Ltd, Mitsubishi Heavy Industries Ltd, Talgo, Stadler Rail, Hyundai Rotem, Škoda Transportation AS, Bombardier Inc, CAF Construcciones y Auxiliar de Ferrocarriles, JR East, JR Central, JR West, China State Railway Group, SNCF, RENFE Operadora, Trenitalia, Korea Railroad Corporation, Taiwan High Speed Rail Corporation.

Asia-Pacific was the largest region in the bullet train or high-speed rail market in 2025. The regions covered in the bullet train or high-speed rail market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the bullet train or high-speed rail market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The bullet train or high-speed rail market consists of sales of high-speed trains, signaling and control systems, track infrastructure, systems for supplying electricity to trains, maintenance equipment, and passenger amenities. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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