Rail Transport Market - Global Industry Analysis, Growth, Trends and Forecast 2020 – 2023 | Covid 19 Impact And Recovery
The global rail transport market is expected to decline from $333.5 billion in 2019 to $323.1 billion in 2020 at a compound annual growth rate (CAGR) of -3.2%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 6% from 2021 and reach $381.9 billion in 2023.
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The rail transport market consists of sales of rail transportation services by entities (organizations, sole traders and partnerships) that use trains to provide transport for passengers and/or cargo. Railroads operate either on networks with physical facilities, labor forces, and equipment spread over a wide geographic area, or operate over a short distance on a local rail line. This market excludes street railroads, commuter rail, urban rapid transit, and scenic and sightseeing train transportation.
Rail transportation companies are using alternative energy sources to operate their rolling stock and stations. Alternatives for diesel include hydrogen and LNG (already being tested by some rail operators) that can be used to power trains. The use of alternative energy sources is primarily driven by growing environmental concerns due to climate change and rising fears of energy security. For instance, The Netherlands’ national railway company Nederlandse Spoorwegen (NS) and electricity company Eneco is running all its trains on wind energy, since January 2017.
Rail Transport Market Segmentation: -
Passenger Rail Transport
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Few Points From Table Of Content
1. Executive Summary
2. Report Structure
3. Rail Transport Market Characteristics
4. Rail Transport Market Product Analysis
5. Rail Transport Market Supply Chain
20. Rail Transport Market Competitive Landscape
21. Key Mergers And Acquisitions In The Rail Transport Market
22. Market Background: Transport Services Market
25. Copyright And Disclaimer
The report covers the trends and market dynamics of the Rail Transport Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the Rail Transport Market are China Railway Corporation; Russian Railways; Indian Railways; Deutsche Bahn AG; Union Pacific Railroad
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