The Rail Transport Global Market Report 2023 by The Business Research Company, provides rail transport market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
Learn More On The Rail Transport Market:
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According to The Business Research Company’s Rail Transport Global Market Report 2023, the global rail transport market size grew from $505.41 billion in 2022 to $538.55 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The rail transport market is expected to grow to $677.78 billion in 2027 at a CAGR of 5.9%.
Faster Economic 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.
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The rail transport market 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, Agriculture, Other End Use Industries
The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the rail transport market in 2020 as governments imposed lockdowns and restricted the movement of people and goods to contain the transmission. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of “lock down” and harming businesses throughout 2020 and into 2021. However, the rail transport market has started recovering from the shock.
The rail transport market report table of contents includes:
1. Executive Summary
2. Report Structure
3. Rail Transport Market Characteristics
4. Rail Transport Market Product Analysis
5. Rail Transport Market Supply Chain
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26. Rail Transport Market Competitive Landscape
27. Key Mergers And Acquisitions In The Rail Transport Market
28. Market Background: Transportation Services Market
29. Recommendations
30. Appendix
Top Major Players:
- Duetsche Bahn AG
- BNSF Railway
- Indian Railways
- JSC Russian Railways
- Union Pacific Corp
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