Global Rail Freight Transportation Market to Reach $205.3 Billion by 2026

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Jun 09, 2021, 10:40 ET

SAN FRANCISCO, June 9, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Rail Freight Transportation - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Global Rail Freight Transportation Market

FACTS AT A GLANCE
Edition: 7; Released: February 2021
Executive Engagements: 663
Companies: 127 - Players covered include BNSF Railway Company; Canadian National Railway; Canadian Pacific Railway; CFR Marfa; Colas Rail; CSX Corporation; CTL Logistics s.r.o.; DB Cargo AG; DB Schenker; DHL Group; Genesee & Wyoming Inc.; Japan Freight Railway Company; Kuehne + Nagel International AG; Nippon Express Co., Ltd.; Norfolk Southern Corp.; PKP CARGO S.A.; Rail Cargo Group; Russian Railways; SBB Cargo AG; SociÃ©tÃ© nationale des chemins de fer franÃ§ais (SNCF); Tschudi Logistics Holding AS; Union Pacific Railroad; United Parcel Service of America, Inc.; VTG Rail Logistics GmbH and Others.
Coverage: All major geographies and key segments
Segments: Type (Intermodals, Freight Cars, Tank Wagons); End-Use (Oil & Gas, Mining, Chemical, Transport, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Rail Freight Transportation Market to Reach $205.3 Billion by 2026
Rail freight transport holds a critical significance in supporting economic performance of a country due to its paramount role in ensuring seamless and efficient flow of goods locally and across borders. Growth in the market is being driven by rising freight volumes, infrastructure development and adoption of sophisticated technology. The market growth is fueled by technological advances and efforts by various countries such as China to boost rail freight volumes to curb pollution. While road transportation accounts for over half of transport volumes in several countries, increasing traffic, emissions and cost are driving governments to opt for rail freight transport. The global rail freight transport market is gaining from increasing rail transport between Europe and China. Around 59 cities in China holds rail freight links with nearly 49 cities across Europe. Implementation of new technologies, developing infrastructure and other such factors are main reasons for the market growth of rail freight.

Amid the COVID-19 crisis, the global market for Rail Freight Transportation estimated at US$159.3 Billion in the year 2020, is projected to reach a revised size of US$205.3 Billion by 2026, growing at a CAGR of 4.3% over the analysis period. Intermodals, one of the segments analyzed in the report, is projected to grow at a 3.7% CAGR to reach US$96 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Freight Cars segment is readjusted to a revised 4.5% CAGR for the next 7-year period. This segment currently accounts for a 23% share of the global Rail Freight Transportation market. Connecting different transport modes to the rail transport system, the intermodal segment is gaining from various trends including globalization, growing domestic intermodal transport, increasing focus on containerization and surge in international transportation. Several companies are equipping freight cars with electronic data interchange with barcodes for offering near real-time response to clients. The technology is anticipated to help companies in exchanging status and orders with their clients and suppliers. These intelligent systems allow companies to reduce inventory and ensure faster replenishment of stocks.

The U.S. Market is Estimated at $56 Billion in 2021, While China is Forecast to Reach $35.4 Billion by 2026
The Rail Freight Transportation market in the U.S. is estimated at US$56 Billion in the year 2021. The country currently accounts for a 34.4% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$35.4 Billion in the year 2026 trailing a CAGR of 5.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 4.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR while Rest of European market (as defined in the study) will reach US$35.5 Billion by the end of the analysis period. North America commands the global rail freight transport market owing to its extensive network of railways spanning over 200,000 miles. The regional market receives a strong contribution from the US that transports a significant volume of goods per year. Asia-Pacific market for rail freight transport is slated to be driven by incorporation of smart systems and technology in freight cars. Emerging economies are eyeing on major investments in rail freight transport to help the transportation mode in scaling new heights by overcoming challenges presented by changes in logistics industry.

Tank Wagons Segment to Reach $65.3 Billion by 2026
In the global Tank Wagons segment, USA, Canada, Japan, China and Europe will drive the 4.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$33.8 Billion in the year 2020 will reach a projected size of US$46.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$9.2 Billion by the year 2026, while Latin America will expand at a 5.7% CAGR through the analysis period. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.