DUBLIN, Aug. 26, 2022 /PRNewswire/ — The “Rail Transportation – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Rail Transportation Market to Reach $561.7 Billion by 2026
The global market for Rail Transportation estimated at US$457 Billion in the year 2022, is projected to reach a revised size of US$561.7 Billion by 2026, growing at a CAGR of 4.7% over the analysis period.
Railway industry investments are driving significant technological advancements and innovation such as connected solutions to improve scheduling, service, safety, security, accessibility, profitable operations, and capacity planning for the future, while indicating critical role of railways in passenger and freight transportation in the coming years.
Infrastructure spending on new and existing railway networks continues to escalate across the world because of various reasons. Railways represent the most environmental-friendly land transport mode, with much lower energy consumption and lesser CO2 emissions per tonne-kilometer than roadways or waterways.
Personal as well as freight transportation needs of world population is growing in tandem with increase in business and commercial activity, while putting additional pressure on existing transportation networks including roadways, aerial and sea routes, besides railways.
The scenario is forcing the governments to enhance their transportation networks across the board, through installation of new projects and expansion of existing infrastructure. Railway networks, offering a plethora of benefits in passenger and freight transport, continue to gain traction in government budgets on improving transport infrastructure.
Although the current scenario remains grim for railway sector, outlook for 2021 and beyond however appears to be mostly optimistic. Anticipated resurgence in global economy, and improvements in business and consumer confidence indices, and revival in industrial activity would aid railway sector to bounce back into growth trajectory in 2021.
Renewed activity in mining & minerals, iron & steel, coal, and petroleum sectors, especially in China, India, the US and the Middle East & Africa, would push the demand for rail freight services.
Passenger, one of the segments analyzed in the report, is projected to grow at a 5.2% CAGR to reach US$316.4 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 segment is readjusted to a revised 4.1% CAGR for the next 7-year period. This segment currently accounts for a 48.2% share of the global Rail Transportation market.
Because of the lockdowns and the resultant dysfunctional supply chains, enterprise operations declined on a massive scale across major sectors including mining & minerals, iron & steel, oil & gas, chemicals, petrochemicals, construction materials, automobiles, and electronics, which eventually led to decreased demand for freight transportation volumes during the year.
Expected recovery in manufacturing, automotive, electrical/electronics, and engineering and construction sectors would in particular enhance the demand for freight transportation.
The U.S. Market is Estimated at $105.4 Billion in 2022, While China is Forecast to Reach $95.6 Billion by 2026
The Rail Transportation market in the U.S. is estimated at US$105.4 Billion in the year 2022. The country currently accounts for a 23.25% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$95.6 Billion in the year 2026 trailing a CAGR of 6.3% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 4.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR while Rest of European market (as defined in the study) will reach US$101.7 Billion by the end of the analysis period.
In North America and Asia, freight operations are generally longer than in Europe, stop less frequently, and the freight infrastructure facilitates for substantially heavier and longer trains that run economically. Steered by governmental emphasis on improving the connectivity and public transportation infrastructure in rural, semi-urban and urban areas, spending on new high speed trains, mainline trains, metro trains, and freight trains increased considerably.
What`s New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to the digital archives
- Complimentary updates for one year
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Competitive Market Presence – Strong/Active/Niche/Trivial for 170 Players Worldwide in 2022 (E)
- Railways: The Backbone of Economic Growth
- Year 2020 Has Been a Year of Astounding Disruption & Unbelievable Transformation
- How Transport & Rail Industries Are Impacted by the Pandemic & What’s the New Normal?
- Transportation Industry Bites the Dust
- Rail Freight Slumps Amid the Crisis
- Global Trade Plummets Impacting Rail Freight: Global Trade Exports & Imports Volume Growth (in %) by Region for 2018-2020
- Recent Market Activity
- World Brands
2. FOCUS ON SELECT PLAYERS (Total 170 Featured)
- National Railroad Passenger Corporation (Amtrak)
- ATS, INC.
- BNSF Railway Company
- Canadian National Railway
- CSX Corporation
- DB Cargo
- DHL International GmbH
- HALLCON CORP
- Norfolk Southern Corp.
- Patriot Rail Company LLC
- Professional Transportation, Inc.
- R.J. Corman Railroad Group
- Russian Railways (RZhD)
- Union Pacific Railroad Company
3. MARKET TRENDS & DRIVERS
- Governments Step Up the Focus on Developing Urban Rapid Transit Systems
- A Snapshot of Select Upcoming Metro Rail Projects
- Role of Rail Freight in the Global Logistics Chain Becomes Bigger. Here’s Why
- North America Leads Global Rail Freight Transportation
- Congestion Issues with Road Freight Transportation Drives Companies towards Rail Freight Transport Industry
- Europe Leads in the World in Rail Freight Infrastructure Investments
- Eurasian Rail Freight Transport in TEU for 2016 & 2027
- Railway Sustainability Comes to the Fore With COVID-19 Reinforcing the Importance of Environmental Protection & Climate Change Management
- Growing Focus on the Environment Triggers the Trend Towards Railway Electrification
- Huge Untapped Opportunity for Rail Electrification Brings Out India as a Lucrative Revenue Pocket for Overhead Cables in Asia-Pacific
- Advent of Solar Powered Trains Emerges as a Potential Driving Factor
- Focus on Sustainable Rail Transport Throws the Spotlight on Zero Emission Trains
- Connected Trains: The Era of Smart Rail Travel is Here!
- Railway Digitalization Rises in Prominence
- Increased Digitalization Catalyzes the Urgency to Implement Cyber Security Measures
- A Peek Into Noteworthy Railway Technology Innovations
- GPS and GSM Technologies Help in Tracking Rail Freight
- Importance of Big Data Analytics and Train Flow Planning Solutions for Rail Freight
- Advanced Driver Assistance Systems Improve Safety and Fuel Efficiency of Light Rail
- Here’s How Role of AI in Intelligent Train Automation Gets Bigger & More Exciting
- Development of High-Speed Trains & Bullet Trains Bodes Well for Market Growth
- Global Level of Deployment of High-Speed Rail Lines by Select Leading Countries
- Tourism, A Major Driver of Passenger Rail Services, How Is it Impacted by the Pandemic & What’s the New Normal?
- Growing Spends on Railway Infrastructure Bodes Well for the Growth of the Entire Railway Ecosystem
- A Snapshot of Select Major Ongoing & Upcoming Projects Focused on Rail Freight Transport
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/g3t2qr
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SOURCE Research and Markets
