Middle-East Hyperloop Technology Market is expected to reach USD XX Billion by 2026 from USD XX Billion in 2018 at a CAGR of XX% (Detailed analysis of the market CAGR is provided in the report).
Middle-East Hyperloop Technology Market
The advanced and high-tech transport system called Hyperloop was projected by entrepreneur Elon Musk when he proposed a "fifth transportation mode" in 2012. As per the concept of hyperloop technology, commuters travel through the tube with the help of a pod and has a speed of more than 700mph.
The quick expansion and increase in interest to commercialize the Hyperloop technology have developed speedily with a large number of inventors showing their importance and backing the projects. Hyperloop would see pods carrying passengers travel at extremely high speeds through a resistance free and frictionless tube having a near-vacuum atmosphere. These pods would either use the magnetic levitation technology float or float within a frictionless less tube to travel from one place to another.
Hyperloop technology is accepted globally with the government from all over the world focusing on introducing this new technology. The high cost and infrastructure have made Middle-East a preferable location for investors all around the world. The growth and expansion of hyperloop technology in Middle-east are changing rapidly due to the extra emphasis of the government to introduce the new transport system.
The Roads and Transport Authority or RTA has unveiled the preliminary design of the Hyperloop project that aims to transform travel by reducing the journey from Dubai to Abu Dhabi in just 12 minutes. Hyperloop, that has formed a part of RTA’s initiatives made for the Dubai Future Accelerators, was exhibited and shown for the first time in the world.
It was done after collaborating with Virgin Hyperloop One as part of its participation in the UAE Innovation Month. The US-based company Hyperloop One has agreed to go ahead with this deal in Dubai to analyze building of a new 500mph train to Abu Dhabi, crossing a distance of 150km in just 12 minutes. The new high-speed transport link building between Dubai and Abu Dhabi would cut travel time to a great extent between the two important cities. The dire traffic environments that were long suffered by commuters traveling between Dubai and Abu Dhabi typically necessitates the need for a faster journey eventually leading to the advent of Hyperloop.
The UAE, Dubai and Saudi Arabia are a few major countries that have contributed to the growth of the Hyperloop Technology market in Middle-east. These countries have signed a pact with companies implementing hyperloop technology for faster commercialization of these new transport systems. The Middle-east region has monitored one of the highest growth globally owing to the enhanced focus on the infrastructure as well as large investments coming from foreign countries.
Bloomberg, Hoovers, and Factiva are some of the paid databases referred in order to gain insights about the Hyperloop Technology market. Opinions from experts along with other stakeholders from major market players have been considered. This is done to validate and collect critical information for evaluating trends related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate the regional and country-wise size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the Hyperloop Technology market globally.
Some of the key players of the Middle-East Hyperloop Technology market include:
Key Target Audience:
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The Scope of the Middle-East Hyperloop Technology Market:
The research report segments Middle-East Hyperloop Technology market based on the transportation system, carriage type, and geography.
Hyperloop Technology Market, By Transportation System
Hyperloop Technology Market, By Carriage Type
Hyperloop Technology Market, By Geography
o GCC Countries
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