GCTL8.com (FocusAsia Media Ltd)
BEIJING, Mar 21 (FAM) – China is now targeting the overseas market as the development of faster and greener transportation systems has become the common goal of both developing and developed countries, although the ability to construct such systems is possessed by only a few countries, specifically China, Japan and Germany.
As countries map out plans for high-speed railways, there is a growing market for China’s cutting-edge technology. It is estimated that the global high-speed rail market will grow at a five-year compound annual growth rate of 3.6 percent to reach US$133.4 billion in 2019.
“Lower-emission and high-speed travel resulting in shorter transportation time will drive the high-speed rail market in the future,” BCC Research analyst Aneesh Kumar wrote in a report.