Hyperloop Market PredictionsJanuary 24, 2020
“Global Hyperloop Technology Market is estimated to account for $1,350 million in 2022, and is projected to reach at $6,000 million by 2026.”
This is just one of many market predictions concerning hyperloop. And although the numbers vary a little, all forecasts are predicting the same phenomenon – the market is going to expand.
It is probably due to the fact that there is a demand for cheap and at the same time inexpensive modes of transport. Hyperloop is said to have both of those features along with the infrastructure that would be immune to natural calamities and would be built over the roads that already exist, saving up the land. Another advantage of the hyperloop solution is a possibility to reduce maintenance costs. The economy could also benefit from reducing the number of personal vehicles on the roads and thus reducing pollution levels. It could, at least partially, solve the problem of traffic jams as well. The pollution would also be reduced by the pods themselves, as they would run on renewable energy sources.
A support from several governments all over the world is one of the driving factors of the hyperloop market. Their endorsement might be driven by the fact that mounting population combined with rapid urbanization and industrialisation across the world calls for modes of transport that would be cheap and very efficient. In addition to the governments, there are also hundreds of institutional investors willing to provide financial support for this technology.
Lack of awareness, issues related to security and high costs of implementation can be counted as factors hindering the market. The first two are currently being tackled by companies trying to build the first hyperloop certification centre and by sharing as much information about the technology as possible. For example, Delft University of Technology has created an online hyperloop course for students wanting to know more about the fifth mode of transportation.
When it comes to key players on the market, there are Virgin Hyperloop One, Hyperloop Transportation Technologies, Hardt Hyperloop, TransPod and Zeleros. Each one of them brings something new to the table and wants to be the first company to have the fastest means of transport. Among private investors supporting the development of this system are for example DP World Group, Caspian VC Partners and Edgewater Capital Partners. Some of the companies use crowdfunding as their main resource. The responses they get are quite promising, as people are willing to support the advancement of high-speed technologies and the money can be raised in short periods of time.