Overview and Scope
Rail transport refers to the transportation of people and products using wheeled vehicles that are specifically made to travel along railroads. Railroads operate either on networks with physical facilities, labor forces, and equipment spread over a wide geographic area or over a short distance on a local rail line.
Sizing and Forecast
The rail transport market size has grown strongly in recent years. It will grow from $546.13 billion in 2023 to $582.61 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rise in e-commerce, change in taxation rules, and rise in mining activity.
The rail transport market size is expected to see strong growth in the next few years. It will grow to $748.97 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to high-speed trains, technological advances, and emphasis on cutting carbon emission. Major trends in the forecast period include adopting head on generation (hog) technology should to reduce their carbon footprints, increase profitability of operations, and reduce operating costs and other fuel related expenses, harness digitalization to improve passengers experience and reduce costs, invest in connected mobility to enable drivers and their passengers to experience a much smoother trip and exploit obstacle detection assistance system to enhance passenger’s safety and to reduce accidents.
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Segmentation & Regional Insights
The rail transport market covered in this report is segmented –
1) By Type: Passenger Rail Transport, Rail Freight
2) By Distance: Long-Distance, Short-Distance
3) By Destination: Domestic, International
4) By End-Use Industry: Mining, Construction, Aggriculture, Other End Users
Subsegments Covered: Medium-Distance Passenger Transport, Long-Distance Passenger Transport, Short-Distance Passenger Transport, Intermodals, Tank Wagons, Freight Cars
Asia-Pacific was the largest region in the rail transport market in 2023. Western Europe was the second largest region in the rail transport market. The regions covered in the rail transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rail transport services market’s growth is aided by the stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market’s growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in end-user markets, thereby driving the market during the forecast period.
Key Industry Players
Major companies operating in the rail transport market report are Deutsche Bahn, BNSF, JSC Russian Railways, Indian Railways, SNCF, Union Pacific Corporation, East Japan Railway Company, CSX Corporation, Central Japan Railway Company, Canadian National Railway Company, Aurizon Holdings Ltd., China State Railway Group Co. Ltd., Container Corp. of India Ltd., Japan Freight Railway Co., KiwiRail Ltd., PT Kereta Api Indonesia (Persero), Qube Holdings Ltd., Twentieth Super Pace Nominees Pty Ltd, Abellio ScotRail, Arriva Rail London, Avanti West Coast, c2c, Caledonian Sleeper, Chiltern Railways, CrossCountry, East Midlands Railway, Eurostar, Govia Thameslink Railway, Greater Anglia, Great Western Railway, Hull Trains, Grand Central, Merseyrail, Virgin Trains, ScotRail, London Overground, Heathrow Connect, ČD Cargo, České dráhy, Die Länderbahn, GW Train Regio, Emperor Franz Joseph Railway, Căile Ferate Române, CFR Marfă, Burlington Northern Santa Fe LLC, Norfolk Southern Corporation, The National Railroad Passenger Corporation, SOO Line Railroad Company, Kansas City Southern, Canadian Pacific Railway, Hudson Bay Railway Co., Quebec North Shore and Labrador Railway, Rampa Express De Mexico, Unitrade, Haf Logistica Internacional, SILT Corporation, Brazil Great Southern Railway, Companhia do Metropolitano de São Paulo, Companhia Paulista de Estradas de Ferro, Ferrocarril Transandino, Perurail, Belmond Andean Explorer, Ferrovías Central Andina, Estrada de Ferro Central do Brasil, Saudi Railway Company, Israel Railways Ltd., Iraq Republic Railways Co., Middle East Rail, Turkish State Railways (TCDD), Arabian Railway Company, Egyptian National Railways (ENR), Passenger Rail Agency of South Africa (PRASA), Transnet Freight Rail, Nigerian Railway Corporation
The rail transport market report table of contents includes:
1. Executive Summary
2. Rail Transport Market Characteristics
3. Rail Transport Product/Service Analysis -Product/Service Examples
4. Rail Transport Market Trends And Strategies
5. Rail Transport Market – Macro Economic Scenario
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68. Global Rail Transport Market Competitive Benchmarking
69. Global Rail Transport Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Rail Transport Market
71. Rail Transport Market Future Outlook and Potential Analysis
72. Appendix
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