North America Rail Infrastructure Market Size By Type (Metro, Commuter Rail, Light Rail), By Application (Passenger and Freight), By Geographic Scope And Forecast
North America Rail Infrastructure Market Size By Type (Metro, Commuter Rail, Light Rail), By Application (Passenger and Freight), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
North America Rail Infrastructure Market Size By Type (Metro, Commuter Rail, Light Rail), By Application (Passenger and Freight), By Geographic Scope And Forecast
North America Rail Infrastructure Market Size And Forecast
North America Rail Infrastructure Market size was valued at USD 22,905.76 Million in 2020 and is projected to reach USD 32,769.35 Million by 2028, growing at a CAGR of 3.61% from 2021 to 2028.
Rail networks, as critical Transport, might be a tempting target for cyber-attacks. Hence, this factor can create a growth opportunity for the Rail Infrastructure Market. The North America Rail Infrastructure Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
North America Rail Infrastructure Market Definition
When you think about getting around, rail transportation is seriously one of the safest ways to go. Trains are fast, and unlike planes or cars, they don't get thrown off schedule as much by things like rain or fog. Plus, rail travel is just more organized than most other forms of transportation. Trains stick to set routes and schedules. That means you can count on things being pretty predictable and consistent. Now, to make things even better, investing in the rail network, adding new tracks, and keeping everything maintained can really boost how reliable and efficient trains are. In North America, you've got key players offering operation and maintenance services to rail infrastructure companies, keeping systems safe and running smoothly. Regular checks and maintenance? That can save money and, more importantly, lives. Of course, extreme weather like heavy rain, floods, or even heavy snow can still mess things up by damaging the tracks and other parts of the rail transport system.
North America Rail Infrastructure Market Overview
Railroads are a big deal! They support around 167,000 jobs across the US and offer unique perks you just can't get with other ways of getting around. Think less traffic jams, fewer highway deaths, lower fuel use, reduced greenhouse gases, cheaper shipping, and even savings on public Transport upkeep. Plus, here in the States, unlike highways, freight trains are run by private companies that handle all their own maintenance and upgrades. Imagine the possibilities with better passenger tracking, preventative maintenance sensors that cut costs in the long run, and instant alerts for any problems! And get thisself-driving trains are becoming more and more of a reality. One thing to keep in mind as we become increasingly digital? Cybersecurity. Rail networks, being such a vital part of our Transport system, could be a target for cyber-attacks. But hey, that also means there's a growing market opportunity to make things more secure!
However, the U.S. has free trade agreements with over and above 20 countries around the world. Targeting FTA countries is one of the United States’ competitive market entry strategies. That’s because foreign buyers pay fewer tariffs for goods made in the U.S. compared with other lucrative goods from the countries without FTAs worldwide. The changes in tariffs could affect companies that import and export taxable goods and services to North America.
North America Rail Infrastructure MarketSegmentation Analysis
The North America Rail Infrastructure Market is segmented on the basis of Application, Type, and Geography.
North America Rail Infrastructure Market, By Application
• Freight• Passenger
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Okay, so when we look at how the market breaks down by Application, we see two main bucketsFreight and Passenger. Freight was the bigger deal back in 2020, and get this, it's expected to keep growing like crazy, about 3.49% each year! Sure, road Transportation handles most of the stuff getting moved around in many countries. But with all the traffic jams, pollution, and costs piling up, governments are looking to rail freight more and more - and that's where the biggest chunk of the market is overall. Plus, with international trade booming, and countries realizing how awesome rail freight is, shipping stuff across borders by train is becoming a really big thing all over the globe. In places like North America, rail freight is even helping to tie economies together by making it easier to get to markets both near and far, and connecting countries that don't have a coastline.
So, when we look at the North American Rail Infrastructure Market, breaking it down by Type, you've got your Metro systems, Commuter Rails, Light Rails, Bullet Trains, and, of course, the "Others" category. Right now, Light Rail is really leading the pack in terms of market share. What's interesting is that it's also expected to see the biggest jump in growth, a 2.10% CAGR, which is pretty impressive! The reason for this surge? Well, light rail's got a few things going for it. It's generally cheaper to build and more dependable than those heavier rail systems. Plus, a light rail vehicle is an environment-friendly alternative when you're thinking about transport. Better comfort for passengers and better environmental control are really pushing the demand for light rail vehicles across the US and Canada. Like, seriously, there have been some major opportunities showing up because it costs less and is more reliable than heavy rail. It's also an eco-friendly transport option.
North America Rail Infrastructure Market, By Geography
• United States• Canada• Mexico
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Looking at North America, the rail infrastructure market breaks down into the United States, Canada, and Mexico. The United States is the biggest player right now and is expected to keep growing at around 3.45% each year. Over there, freight rail really dominates, with a sprawling network of private railways that even link up with Canada and Mexico. Passenger rail? That's mostly your city trains and commuter lines. Intercity passenger service, which used to be a big deal, isn't as important as it used to be compared to how things are in other countries. All in all, the United States has got one of the largest rail transportation networks on the planet.
Key Players
Looking for the lowdown on the "North America Rail Infrastructure Market?" This study's got you covered! We're diving deep, focusing on the market and its key players, like Kiewit Corporation, The Walsh Group, Railworks Corporation, SKANSKA USA Inc., Bechtel Corporation, RailWorks Corporation, Bombardier, and Dufferin Construction Company, amongst others.We've even got a whole section dedicated to these big names, where our experts break down their financial statements, benchmark their products, and give you the inside scoop with a SWOT analysis. Plus, we're laying out the competitive landscape, including key development strategies, market share breakdowns, and market ranking analysis of those same players.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2017-2028
BASE YEAR
2020
FORECAST PERIOD
2021-2028
HISTORICAL PERIOD
2017-2019
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
Kiewit Corporation, The Walsh Group, Railworks Corporation, SKANSKA USA Inc., Bechtel Corporation, RailWorks Corporation & Others
SEGMENTS COVERED
Application
Type
Geography
CUSTOMIZATION SCOPE
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Reasons to Purchase this Report
We'll take a close look at the market, using both qualitative and quantitative analysis, and break it down by segmentation, considering everything from economics to other important factors. You'll get market value data (in USD Billion) for each segment and sub-segment. We'll pinpoint which region and segment we think will grow the fastest and be the biggest. Our analysis will also cover each geographic area, showing how much the product/service is used and what's influencing the market there. Plus, you'll see the competitive landscape, including market rankings of the top players, new service/product launches, partnerships, business expansions, and acquisitions from the last five years. We offer extensive company profiles with overviews, insights, product benchmarking, and SWOT analysis for the major players. Get the current and future market outlook, focusing on growth opportunities, drivers, challenges, and restraints in both emerging and developed regions. We provide a deep dive into the market using Porter’s five forces analysis and give you valuable insight into the Value Chain. You'll also see the market dynamics and future growth opportunities. Oh, and we also include 6 months of post-sales analyst support!
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