How big is the Hyperloop Technology Market?

The Hyperloop Technology Market size is expected to reach USD 1.30 billion in 2024 and grow at a CAGR of 40.45% to reach USD 11.52 billion by 2029. Read More

What is the current Hyperloop Technology Market size?

In 2024, the Hyperloop Technology Market size is expected to reach USD 1.30 billion. Read More

Who are the key players in Hyperloop Technology Market?

Hyperloop Transportation Technologies, Transpod Inc., Space Exploration Technologies Group, AECOM Inc. and Hardt Global Mobility are the major companies operating in the Hyperloop Technology Market. Read More

Which is the fastest growing region in Hyperloop Technology Market?

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Hyperloop Technology Market?

In 2024, the North America accounts for the largest market share in Hyperloop Technology Market. Read More

What years does this Hyperloop Technology Market cover, and what was the market size in 2023?

In 2023, the Hyperloop Technology Market size was estimated at USD 0.77 billion. The report covers the Hyperloop Technology Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Hyperloop Technology Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Hyperloop Technology Market - Size, Share, Growth & Forecast Analysis

Hyperloop Technology Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Hyperloop Technology Companies and is Segmented by Component Type (Capsule, Tube, Propulsion Systems, and Other System Types), Carriage Type (Passenger and Cargo/Freight), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Report Offers Market Size and Forecast for all the Abovementioned Segments in USD Billion.

Hyperloop Technology Industry Overview

Some of the potential key players in the global hyperloop technology market are Hyperloop Transportation Technologies, Space Exploration Technologies Corp., and TransPod Inc. The market is highly driven by factors like partnerships with startups, land availability, and governments' interest across the world.

In January 2024, ArcelorMittal declared a partnership with the Indian Institute of Technology Madras (IIT Madras) to foster hyperloop advancements, signifying a substantial stride toward enhancing rapid transportation solutions in India and Asia. This collaboration engages two divisions within IIT Madras: Avishkar Hyperloop and TuTr Hyperloop, a startup nurtured within the institute.
In December 2022, Tata Steel and TuTr Hyperloop signed an agreement to collaboratively engage in advancing and implementing hyperloop technology. The research will specifically target pivotal aspects such as design intricacies and the selection of suitable materials. The joint effort aims to craft, refine, and expand the technology's capabilities to prepare it for market deployment. The initial phase of the project will occur on a 50-meter experimental track located at IIT Madras. The subsequent stages, Phase II and III, will be dedicated to accomplishing a 10-kilometer track and will involve a consortium of additional industry partners from sectors such as automotive, construction, and engineering.
In March 2022, UK-based Broughton Capital Group, in cooperation with China-East Resources Import & Export Co., agreed in principle to provide a combined USD 550 million finance and Master EPC arrangement, respectively, to accelerate the development of a TransPod Line between Edmonton and Calgary.