Overview and Scope
Rail freight refers to a mode of transportation that provides the carriage of goods from a point of loading, or goods station, to a point of unloading, as well as a station capable of handling the loading and unloading of the goods carried that are generally heavy in bulk and of low value in their bulk and that offer fuel efficiency and certain solutions for the movement of goods compared to other methods.
Sizing and Forecast
The rail freight market size has grown strongly in recent years. It will grow from $276.39 billion in 2023 to $291.62 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to growth in international trade, low cost of railway transportation, and growing sustainability in transportation..
The rail freight market size is expected to see strong growth in the next few years. It will grow to $360.65 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to government support, global population growth and urbanization, increasing growth of intermodal transportation, and a surge in development and testing of autonomous trains. Major trends in the forecast period include strategic partnerships and acquisitions to improve financial strength, implementing precision scheduled railroading, using artificial intelligence (ai) to provide accurate analysis and real time transport operations, launching new advanced freight trains to aid in development of new and advanced products with advanced technologies, and using rail vehicle visibility tools..
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Segmentation & Regional Insights
The rail freight market covered in this report is segmented –
1) By Type: Intermodals, Tank Wagons, Freight Cars
2) By Freight Type: Containerized, Liquid, Commodities, Other Freight Types
3) By Destination: Domestic, International
4) By Application: Oil And Gas, Mining Industry, Logistics Industry, Post Service, Other Applications
Asia-Pacific was the largest region in the rail freight market in 2023. North America was the second largest region in the rail freight market. The regions covered in the rail freight 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 growing need for freight services is expected to propel the growth of the rail freight market going forward. Freight encompasses items or merchandise moved from one location to another, employing various modes of transportation like ships, aircraft, trains, or trucks. Railways are a frequently chosen method for transporting cargo over extended distances due to their efficiency and economical nature. For instance, in June 2023, according to the Association of American Railroads, a US-based trade association, the total volume of freight shipments in the United States is projected to grow from approximately 19.3 billion tons in 2020 to 25.1 billion tons in 2040, reflecting a 30% increase. Therefore, the growing need for freight services is driving the growth of the rail freight market.
Key Industry Players
Major companies operating in the rail freight market report are Berkshire Hathaway Inc, China Railway Corporation, Canadian National Railway, Union Pacific Corporation, Norfolk Southern Corporation, DB Cargo UK (formerly EWS), Japan Freight Railway Company (JR Freight), Etihad Rail DB, Tiger Logistics India Limited, Kansas City Southern, Companhia Paulista de Trens Metropolitanos, SNCF, BNSF Railway, Atlas Logistics, Porr Qatar Construction WLL, Vale, Direct Rail Services, Jenkar Shipping Ltd, SuperVia, Imt Express, Quebec North Shore and Labrador Railway (QNS&L), Miracle Logistics Company Ghana Limited, Deutsche Bahn AG, Freightliner, Indian Railways, VLI Logística, Shree Shyam Logistics, Rumo, Orchid Global Sourcing, CG Logistics Pvt. Ltd, Interem Packers & Movers, České dráhy (České Dráhy, A.s.), RFFSA, Botswana Rail (BR), Delhi Cargo & Courier Services, MRS Logistics, Russian Railways, Shiprocket, TransContainer, Om Logistics, Saudi Arabia Railways, Anshika Express Cargo, CSX Corporation, Transnet Freight Rail, Alstom, Traxport , SYSTRA, GB Railfreight, SLR Shipping Services LLC, RAIL1520 Ltd, América Latina Logística, OJSC Altaivagon, Canadian Pacific, VSL Logistics and Freight forwarding solutions, Achievers Logistics Ghana, Accra
The rail freight market report table of contents includes:
1. Executive Summary
2. Rail Freight Market Characteristics
3. Rail Freight Product/Service Analysis -Product/Service Examples
4. Rail Freight Market Trends And Strategies
5. Rail Freight Market – Macro Economic Scenario
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68. Global Rail Freight Market Competitive Benchmarking
69. Global Rail Freight Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Rail Freight Market
71. Rail Freight Market Future Outlook and Potential Analysis
72. Appendix
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