The Rail Transport by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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https://www.thebusinessresearchcompany.com/report/rail-transport-global-market-report
According to The Business Research Company’s Rail Transport, 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.
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 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
Advanced driver assistance system (ADAS) technology is becoming popular in the rail transportation industry to optimize energy usage, enhance operational management, safety and aid in cost reduction. These systems provide automatic warning, protection, operation, supervision, and control arrangement. They also aid in meeting stringent government regulations towards passenger safety. Around 60 million units of advanced driver assistance systems were produced globally. Some companies providing these systems for locomotives are Thales Group, Alstom S.A., Bombardier Transportation, Hitachi Ltd., CRRC Corporation Limited, Ansaldo STS, and SIEMENS AG.
The rail transport market report table of contents includes:
- Executive Summary
- Rail Transport Market Characteristics
- Rail Transport Market Trends And Strategies
- Rail Transport Market - Macro Economic Scenario
- Global Rail Transport Market Size and Growth
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- Global Rail Transport Market Competitive Benchmarking
- Global Rail Transport Market Competitive Dashboard
- Key Mergers And Acquisitions In Rail Transport Market
- Rail Transport Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Deutsche Bahn
- BNSF
- JSC Russian Railways
- Indian Railways
- SNCF
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