Global Rail Freight Transport Market Size By Product (Intermodals, Tank Wagons), By Application (Oil and Gas Industry, Mining Industry), By Geographic Scope And Forecast

Rail Freight Transport Market Size And Forecast

Rail Freight Transport Market size was valued at USD 249 Billion in 2022 and is projected to reach USD 301 Billion by 2030, growing at a CAGR of 2.2% from 2023 to 2030.

Rail freight transit plays a key role in supporting a country’s economic performance because it ensures a smooth and efficient flow of commodities locally and across borders. Rising freight volumes, infrastructural development, and the adoption of advanced technology are all driving industry growth. The Global Rail Freight Transport 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.

Global Rail Freight Transport Market Definition

The railway is one of the most environmentally friendly and efficient modes of transportation for people and goods. Railways are the quickest mode of transportation, capable of transporting tonnes of weight at a low cost and in a short period of time. Railways help the Rail Freight Transport Market grow. Rail freight transfers items from a loading point or goods station to a discharging point.

Coal, building materials, iron, and steel, for example, are typically heavy and bulky. Along with transporting heavy commodities, the Rail Freight Transport Market also provides rail freight service. Service providers offer logistics and value-added services. Loading and documentation, unloading services, and packaging are some of them. As a result, it helps boost the growth of the Rail Freight Transport Market.

Global Rail Freight Transport Market Overview

Rail freight transit plays a key role in supporting a country’s economic performance because it ensures a smooth and efficient flow of commodities locally and across borders. Rising freight volumes, infrastructural development, and the adoption of advanced technology are all driving industry growth. The market’s expansion is spurred by technical advancements and attempts by countries like China to increase rail freight volumes in order to reduce pollution. While road transportation accounts for more than half of all transport volumes in numerous nations, rising traffic, emissions, and costs are forcing governments to choose rail freight transportation.

The need for the movement of heavy materials used in construction has increased as infrastructure in several countries has developed. The use of advanced technologies enabled the rapid movement of heavy goods via railways. As a result, these factors contribute to the growth of the Rail Freight Transport Market.In many parts of the world, cross-border rail freight transport is expected to grow in popularity. Rail travel between Europe and China is growing, for example, since it fosters economic development by connecting countries and providing access to global and regional markets. Implementation of foreign entry restrictions and other barriers is projected to limit market growth in a majority of countries around the world. Furthermore, high energy taxes on rail freight in the US and Europe pose a severe challenge to the rail freight business.

COVID-19 ImpactCOVID-19 has rapidly impacted the construction industry, restricting the Rail Freight Transport Market growth. COVID-19 and social distancing limitations have impacted the rail freight transportation business, slowing processes and reducing the transfer of materials due to supply disruptions.The market was projected to grow at a decent rate due to fast infrastructure developments.

Global Rail Freight Transport Market Segmentation Analysis

The Global Rail Freight Transport Market is Segmented on the basis of Product, Application, And Geography.

Rail Freight Transport Market, By Product

• Intermodals
• Tank Wagons
• Freight Cars

Based on Product, The market is segmented into Intermodals, Tank Wagons, and Freight Cars. Intermodal transportation connects other modes of transportation to rail transportation. They are capable of transporting bulk products such as coal, minerals, and liquid petroleum at a low cost. Because it decreases traffic congestion on highways by reducing the number of trucks on the road, intermodal transportation is commonly used and is currently dominant in the market.

Rail Freight Transport Market, By Application

• Oil and Gas Industry
• Mining Industry
• Chemical Industry
• Transport Industry

Based on Application, The market is segmented into Oil and Gas Industry, Mining Industry, Chemical Industry, and Transport Industry. The oil and gas industry uses rail freight wagons because of their large capacity for transporting bulk materials. Furthermore, increased global usage and production of primary and secondary energy are predicted to boost the oil and gas industry and are looking to dominate the market.

Rail Freight Transport Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest Of the World

On the basis of Regional Analysis, The Global Rail Freight Transport Market is segmented into North America, Europe, The Asia Pacific, Rest Of the World. The United States contributes significantly to the regional economy by transporting a vast volume of commodities each year. The market for rail freight transportation in the United States accounted for 34.4 percent of the global market in 2019. Throughout the forecast period, Asia-Pacific is predicted to grow at a very fast rate accounting for a substantial share of the market.

Key Players

The “Global Rail Freight Transport Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are CN Railway, BNSF Railway, Union Pacific, SBB Cargo, CTL Logistics, PKP Cargo, Colas Rail, RSI Logistics, Nippon Express, and Deutsche Bahn AG. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In May 2022, Railway freight loading rises 14.7 percent.
• In June 2022, Amidst Huge demand Rail Bridge Cargo opens 2 new routes via the Caspian Sea.

Report Scope

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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