Maglev Train Market By Type (Electromagnetic Suspension (EMS), Electrodynamic Suspension (EDS), Inductrack System); By Application (Urban Transportation, Intercity Travel, Airport Shuttles, Freight Transport); By Technology (Superconducting Magnets, Normal Conducting Magnets, Halbach Array Magnets); By End-Use (Passenger Transportation, Cargo/Freight Transportation); By Geography, Segment revenue estimation, Forecast, 2024-2032.

The maglev train market in 2023 was worth USD 3.2 billion and is expected to be worth USD 5.7 billion by 2030, expanding at a CAGR of 7.5% during the forecast period.

 

A maglev train is a type of rail transport that employs magnetic suspension for the train to float above the track, thus greatly reducing the rail friction.

 

The market for maglev trains is influenced by the demand for fast, efficient, and eco-friendly means of transport. Maglev trains can travel at more than 600 km/h and entail less travel time as compared to other rail systems. For instance, the Shanghai Maglev train in China operates at a maximum of 431 km/h whilst taking only 7 minutes to travel only 30 km to the airport. This speed advantage makes maglev technology highly attractive for densely populated regions and intercity travel. Recently, the Japanese SCMaglev, with a planned velocity of up to 500 km/h between Tokyo and Nagoya, has demonstrated successful testing, thus outlining the potential of transforming how people travel by rail. Third, maglev trains generate less noise and emissions, which are favorable to environmental standards set in sustainable development across the world, increasing the popularity of maglev trains in the face of emerging environmental challenges.

 

The most significant opportunity arising from the competition in the market of maglev trains is the growing need for faster intercity and cross-border transport. For instance, the proposed maglev line connecting Tokyo and Osaka in Japan plans to decrease travel time by more or less 2. From 5 hours to 67 minutes, they aim to serve more than 150 million passengers annually. These are the new emergences with the United States viewing maglev projects like the Baltimore-Washington corridor in the consideration for decreasing road traffic and carbon dioxide emissions. This is especially because many global cities are currently searching for efficient and sustainable forms of transport to mitigate transportation issues such as urban sprawl and environmental concerns, hence creating a good market for maglev.

 

 

Market Segmentation

By Type:

• Electromagnetic Suspension (EMS)

• Electrodynamic Suspension (EDS)

• Inductrack System

 

By Application:

• Urban Transportation

• Intercity Travel

• Airport Shuttles

• Freight Transport

 

By Technology:

• Superconducting Magnets

• Normal Conducting Magnets

• Halbach Array Magnets

 

By End-Use:

• Passenger Transportation

• Cargo/Freight Transportation

 

By Region

North America

• US

• Mexico

• Canada

• Rest of North America

 

Europe

• Switzerland

• Russia

• France

• Germany

• U.K

• Finland

• Turkey

• Netherlands

• Belgium

• Spain

• Italy

• Rest of Europe

 

Asia Pacific

• India

• China

• South Korea

• Japan

• Singapore

• Thailand

• Indonesia

• Malaysia

• Philippines

• Australia

• Rest of Asia-Pacific

 

LAMEA

• Brazil

• Argentina

• Uruguay

• Saudi Arabia

• Rest of LAMEA

 

Segment Analysis for the Maglev Train Market

By Type:

Leading Segment: Electromagnetic Suspension (EMS)

EMS is the dominant type, accounting for over 50% of the market share due to its wide adoption in urban & intercity transportation systems. Its lower maintenance costs, relatively simple infrastructure & stable operations make it popular. Germany’s Transrapid maglev system uses EMS technology, offering speeds up to 500 km/h. EMS is expected to maintain steady growth at a CAGR of 7% as urbanization continues to increase globally.

Fastest-Growing Segment: Electrodynamic Suspension (EDS)

EDS is growing at a CAGR of 9%, driven by its ability to achieve higher speeds and efficiency over long distances. Countries like Japan spearhead EDS adoption which is exemplified by the Chuo Shinkansen project set to connect Tokyo & Nagoya at speeds exceeding 600 km/h by 2027.

 

By Application:

Leading Segment: Urban Transportation

Urban transportation dominates with a 45% market share propelled by increasing demand for efficient & eco-friendly intra-city transit systems. Projects like China’s Changsha Maglev & South Korea’s Incheon Airport Line highlight the growing deployment of maglev systems for urban transit. The segment is projected to expand at a CAGR of 6.5%.

Fastest-Growing Segment: Airport Shuttles

Airport shuttles are expanding at a CAGR of 9.5% as airports globally focus on reducing congestion & enhancing connectivity. The Pudong International Airport in Shanghai uses a maglev train to connect the airport to the city, covering 30 km in just 8 minutes.

 

By Technology:

Leading Segment: Superconducting Magnets

Superconducting magnets hold over 60% of the market share due to their superior magnetic field strength, enabling higher speeds & improved efficiency. Japan’s Maglev L0 series, powered by superconducting magnets, represents the pinnacle of this technology.

Fastest-Growing Segment: Halbach Array Magnets

Halbach array magnets are gaining traction, expanding at a CAGR of 10%, due to their ability to create strong, localized magnetic fields while reducing energy consumption. They are increasingly being used in next-generation maglev trains, like the Inductrack system, which relies on this technology for cost efficiency & enhanced performance.

 

By End-Use:

Leading Segment: Passenger Transportation

Passenger transportation dominates with a market share of approximately 70%, driven by rising investments in urban and intercity maglev systems to meet growing commuter demands. Projects like China’s Beijing-Tianjin line exemplify the adoption of maglev trains for passenger transit. The segment is projected to expand at a CAGR of 6.5%.

Fastest-Growing Segment: Cargo/Freight Transportation

Cargo transportation is growing at a CAGR of 9% due to the increasing need for efficient & high-speed freight movement. The potential for maglev systems to transport goods at speeds over 500 km/h with minimal environmental impact is driving investments. For instance, the Freight Maglev concept being explored in Europe aims to revolutionize logistics by significantly reducing transit times.

 

By Region:

Leading Region: Asia Pacific

APAC leads the market with over 50% share, driven by significant investments from Japan, China & South Korea. China operates the world’s fastest commercial maglev train, the Shanghai Maglev, with speeds of 430 km/h, highlighting the region’s dominance. The region is expected to expand at a CAGR of 7.5% due to ongoing projects like the Beijing-Shanghai high-speed maglev.

Fastest-Growing Region: Europe

Europe is growing at a CAGR of 9%, supported by initiatives like Germany’s Transrapid and the proposed Hyperloop systems, which employ maglev technology. The region is also investing heavily in research and development to enhance the scalability and efficiency of maglev systems, with countries like Germany and the UK leading the charge.

 

Key Players

• Central Japan Railway Company (JR Central)

• China Railway Group Limited (CREC)

• CRRC Corporation Limited

• Hitachi Ltd.

• Mitsubishi Heavy Industries

• Alstom

• Siemens AG

• ThyssenKrupp AG

• Transrapid International

• American Maglev Technology (AMT)

 

Maglev Train Market Report Coverage

Report Attribute	Details
Forecast Period	2023 – 2030
Market Size Value in 2023	USD 3.2 billion
Revenue Forecast in 2030	USD 5.7 billion
Overall Growth Rate	CAGR of 7.5%
Base Year for Estimation	2022
Historical Data	2017 – 2021
Unit	USD Billion, CAGR (2023 - 2030)
Segmentation	By Type, By Application, By Technology, By End-Use, By Region
By Type	Electromagnetic Suspension (EMS), Electrodynamic Suspension (EDS), Inductrack System
By Application	Urban Transportation, Intercity Travel, Airport Shuttles, Freight Transport
By Technology	Superconducting Magnets, Normal Conducting Magnets, Halbach Array Magnets
By End-Use	Passenger Transportation, Cargo/Freight Transportation
By Region	North America, Europe, Asia-Pacific, LAMEA
Country Scope	US, Canada, Mexico, UK, Germany, France, China, Japan, India, South Korea, Australia, etc.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.