Railroads Market: North America Accounted For The Largest Share

Railroads Industry Overview

The global railroads market size was valued at USD 295.80 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.4% from 2022 to 2030. The market is likely to be driven by continued investments in railway line projects and the expansion of railroad networks around the world. Several national and international railway projects, particularly in the Asia Pacific, are currently in the planning, development, or building stages, which bodes well for future market growth.

Railcar leasing has become a major trend around the world and this is predicted to have a favorable impact on railroad transportation. Depending on the nature of the cargo and the use of current technologies in railroad transportation, this mode of transporting goods is not only safer but also more cost-effective. Moreover, advancements in storage facilities and power sources, as well as improvements in transportation timings are likely to create new growth prospects for the railroad transportation industry.

Gather more insights about the market drivers, restrains and growth of the Global Railroads market

 

The impact of the COVID-19 pandemic on the rail freight business has been mixed. North and South America saw a fall in rail freight traffic while Asia witnessed an increase. In April 2020, SNCF—France’s national state-owned railroad company—announced modifications to its operations in response to the low passenger and freight demand. It decreased TGV and Intercités services to about 10% of normal levels, while Transilien and TER services, as well as Keolis-operated transport networks, were lowered to an average of 15% to 20% of normal capacity. SNCF’s rail freight service was running at 65% of its normal capacity.

In many countries, COVID-19 led to a scarcity of truck drivers, as well as restrictions on sea and air transportation, which resulted in a dramatic increase in the cost of transportation by truck, sea, or air. The cost of rail freight, in comparison, was low, and switching to rail freight became a supply chain advantage. Over the forecast period, more investments, infrastructure expansions, and technology implementation to digitize rail freight are expected, translating to increased market growth.


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Railroads Market Segmentation

Grand View Research has segmented the global railroads market based on type, end use, and region:

Railroads Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Rail Freight
  • Passenger Rail

Railroads End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Mining
  • Construction
  • Agriculture
  • Others

Railroads Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)


Market Share Insights

  • March 2021: Canadian Pacific Railway and Kansas City Southern Railway—two of the seven Class I railways operating in the U.S.—announced a merger agreement. Canadian Pacific would buy Kansas City Southern in a stock and cash deal, according to the proposed agreement

  • July 2020: the EU authorized the purchase of Bombardier’s rail unit by Alstom, a French high-speed rail company. Alstom had to commit to a number of access assurances and hand over Bombardier’s assets that were contributing to Hitachi’s joint high-speed platform.

 

Key Companies profiled:

Some prominent players in the global railroads market include:

  • Central Japan Railway Company
  • SNCF Group
  • Union Pacific Corporation
  • OAO RZD (Russian Railways)
  • BNSF Railway
  • Indian Railways
  • Deutsche Bahn
  • JSC Russian Railways
  • CSX Corporation

 

Order a free sample PDF of the Railroads Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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