Railroad Market Size in 2022, Major Players in Market, Opportunities, Industry Growth & Forecast Till 2028
IMARC Group has recently released a new research study “ Railroad Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the Railroad Industry?
The global Railroad Market size reached US$ 307.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 503.3 Billion by 2028, exhibiting a growth rate (CAGR) of 4.11% during 2023-2028.
What is a Railroad?
Railroad represents a set of tracks made of steel that are laid on a roadbed. It is a medium of land-based mass transportation catering to the movement of passengers and commodities over short and long-distance routes.
Railroad comprises of vehicles with flange wheels guided by parallel tracks that restrict movement and remove the requirement for steering. These vehicles are either self-propelled or utilize a locomotive for propulsion.
Railroads are extensively used for traveling and transporting bulk commodities, such as coal, petroleum, chemicals, construction materials, agricultural produce, consumer goods, automobiles, etc.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Year considered to estimate the market size:
Base year of the analysis: 2021
Historical period: 2016-2021
Forecast period: 2023-2028
What are the major market drivers in the Railroad Market?
The increasing industrialization levels coupled with significant growth in the tourism industry are among the key factors stimulating the railroad market. Apart from this, the rising number of local and cross-border movements of travelers and commodities is also propelling the market growth.
Besides this, the introduction of advanced driver assistance systems (ADAS) in railroads that provide automatic warning, supervision, control arrangements, etc., to improve operational management and optimize energy usage is further fueling the global market.
Moreover, the growing adoption of railroads for transporting bulk commodities to remote areas, owing to their robust connectivity, is acting as another significant growth-inducing factor.
Furthermore, the rising investments by several government bodies for the expansion of the railroad networks and the emerging trend of railcar leasing are expected to positively influence the railroad market over the forecasted years.
What are the major market drivers in the Railroad Market ?
The competitive landscape of the industry has Bnsf Railway Company (Berkshire Hathaway Inc.), Canadian National Railway Co., Canadian Pacific Railway Limited, CSX Corporation, CTL Logistics Sp. z o.o, DB Cargo Aktiengesellschaft (Deutsche Bahn AG), Japan Freight Railway Company, Norfolk Southern Corporation, PKP Cargo International (PKP Cargo), SBB Cargo (Swiss Federal Railways), SNCF Group and Union Pacific Corporation.
| Railroad Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 307.6 Billion |
| Market forecast in 2027 | US$ 6.77 Billion |
| Growth Rate | CAGR of 4.11% from 2023 to 2028 |
| Base year for estimation | 2022 |
| Historical data | 2017-2022 |
| Forecast period | 2023-2028 |
| Report coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends |
| Segments covered | Type, Distance And End Use |
| Regional scope | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Key companies profiled | Bnsf Railway Company (Berkshire Hathaway Inc.), Canadian National Railway Co., Canadian Pacific Railway Limited, CSX Corporation, CTL Logistics Sp. z o.o, DB Cargo Aktiengesellschaft (Deutsche Bahn AG), Japan Freight Railway Company, Norfolk Southern Corporation, PKP Cargo International (PKP Cargo), SBB Cargo (Swiss Federal Railways), SNCF Group and Union Pacific Corporation. |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Type:
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Rail Freight
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Passenger Rail
Breakup by Distance:
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Long Distance
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Short Distance
Breakup by End Use:
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Mining
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Construction
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Agriculture
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Others
By Geography:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom,
Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia,
Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
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Market Performance (2016-2021)
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Market Outlook (2022- 2027)
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Porter’s Five Forces Analysis
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Market Drivers and Success Factors
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SWOT Analysis
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Value Chain
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Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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