Report: Market value of high-speed rail to hit $907 billion
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.
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.
More Rail
New York MTA Leverages Zoning Program to Advance Station Accessibility
Accessibility enhancements at Nevins St Station will be financed through a development agreement tied to the MTA's Zoning for Accessibility initiative.
Read More →
Virginia's $28.5B Transportation Plan Targets Transit and Rail
Approved by the Commonwealth Transportation Board, the program supports ongoing infrastructure projects while providing new investments in transit, state of good repair and transportation alternatives.
Read More →
DOT: Brightline Corridor Incidents Fall 30% Following Federal Safety Upgrades
Safety improvements funded through a $25 million federal investment are credited with reducing trespassing and train-vehicle collisions along the Brightline Florida corridor.
Read More →
D Line Expansion Fuels Growth Across LA Metro's Rail System
Weekend rail ridership was especially strong, soaring 18% as riders embraced expanded access to jobs, entertainment, dining, and cultural destinations, said the agency. Total system ridership for May, including bus and rail, was 26,966,657.
Read More →
Southern California's Metrolink Debuts Contactless Fare Payment Pilot
Customers traveling between Redlands and Los Angeles can now tap their preferred payment method, including a credit or debit card, mobile wallet, or wearable device, at station validators before boarding and again while exiting.
Read More →
California's BART Approves FY27 Budget While Maintaining Service Levels
The budget covers July 1, 2026, through June 30, 2027, a period when pandemic emergency funds run out, the District faces a structural deficit of $375 million, and a regional transit funding measure may appear on the November ballot.
Read More →
Penn Station Transformation Advances with Design Unveiling
The historic redesign will transform the busiest transit hub in the Western Hemisphere from the tracks to the street level, creating a more efficient, cleaner, and functional experience for more than 600,000 daily commuters and millions of visitors.
Read More →
Second Avenue Subway Phase 2 Advances into Major Construction Stage
New York Governor Kathy Hochul joined leadership from the MTA, elected officials, and Harlem community leaders to break ground on the major construction stage of the transformative Second Avenue Subway Phase 2 project.
Read More →
The Invisible Infrastructure of Passenger Flow
What a seat reservation system on Austria’s Railjet trains reveals about the future of rider experience, and why U.S. agencies should pay attention.
Read More →
Caltrain Board Approves FY27 Budget, Endorses Efficiency Measures
The move ensures Caltrain service will continue operating as usual in the near term, but long-term financial challenges remain for the rail agency absent a new revenue source.
Read More →