The successful installation of a fast moving transportation system is beneficial on two levels. First, it would decrease the nation's reliance on depleting fossil fuels and secondly, high-speed rail would stimulate local economies and drive growth across the U.S., according to SBI Energy's new industry study, "High Speed Rail Infrastructure Component Manufacturing."
The study also reports that the accumulated market value of global high-speed rail manufacturing sectors was $244 billion from 2005 to 2009 and will grow to reach $907 billion between 2010 and 2015.
Nations around the globe are increasing their roll out of high-speed rail initiatives during 2010, making them an integral part of the overall transportation infrastructure. Several countries in Europe, for example, currently lacking a high-speed rail system have made commitments to begin construction by the end of the year.
In Asia, a multitude of development projects are underway with anticipated completion dates between 2015 and 2020 and, of the 17,000 miles of planned high-speed rail track implementations worldwide, nearly 10,000 miles are allocated for Asia, SBI Energy reports.
The move for high-speed rail in the U.S. will create or save tens of thousands of jobs in areas like track-laying, manufacturing, planning and engineering, and rail maintenance and operations, according to the study. Over 30 rail manufacturers, both domestic and foreign, have agreed to establish or expand their base of operations in the U.S. if they are hired to build the country's next generation high-speed rail lines — a commitment the Obama Administration secured to help ensure new jobs are created in the U.S.
This SBI Energy report analyzes the market opportunities that global high-speed rail manufacturers are eager to embrace through the next decade, examines the critical trends driving high-speed rail growth by region and forecasts the value of this growth by each of the manufactured components, and the socioeconomic and consumer-based trends affecting the industry.
For more, click here.