Technological Advancements in the High Speed Rail Industry—Growth Prospects and Emerging Opportunities, 2017

Description

Increasing urbanization and rise in demand for urban and intercity mobility have resulted in growing need for energy efficient transportation solutions. There will be more than 20 mega regions around the globe that open up avenues for smart and integrated transportation by 2025. Urbanization and congestion trends are prevalent more in developed regions as the rate of urbanization is expected to increase to 80.4 % by 2025. Development of High Speed Rail network has demonstrated success in terms providing energy efficient inter city transportation solutions and reducing congestion in many countries. This study examines HSR development models in five major economies including Japan, China, South Korea, Taiwan, and Spain. Specifically, key purpose and functions of HSR network, challenges, economic impact of these projects, key lessons in project design, financing and implementation aspects are evaluated. Some of the findings based on comparative assessment of the HSR network development and implementation are listed below:

• Reasons for the establishment of HSR include traffic congestion, boosting productivity and upgrading transport network that spurs economic development
• Project design must take into consideration the specific characteristics of the urban patterns and economic structure
• Ability to identify synergies with local players, attract talents, and bridge the skill gap is essential to build a sustainable high-speed rail industry
• Development of eco-system which include local R&D, innovation practices and intellectual property management is critical for a successful HSR network
• Cost considerations are of central relevance when making choices concerning HSR projects and their implementation