Demand For Railcar Leasing Across The World Is Poised To Increase Over The Coming Years

About the Report
Railcar lessors (service providers that offer railcars on a rental basis for a specified duration of time as per a contract) provide a range of railcars and numerous associated services, such as repair and maintenance; and tax, insurance, and other financial services; which are managed by various asset management agencies. Railcar lease facilities are used to transport a plethora of goods, including metals and mining, oil & gas products, agri-produce & F&B products, temperature-sensitive goods, and numerous other industrial goods.

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Demand for railcar leasing across the world is poised to increase over the coming years, with Asia Pacific leading the market share, followed by North America and Europe. Fact.MR published an exclusive forecast report in the railcar leasing market with forecasts for the period of 2020 to 2030. The foremost objective of this report is to pitch insights on the market scenario, demand generators, and technological advancements in this space. Gondolas, boxcars, and hopper cars are most sought-after as far as railcar leasing is concerned.

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Why are Future Projections Even Better than Historical Trends?
From 2015 to 2019, the global railcar leasing market exhibited an impressive growth rate of 8%. Over the forecast period of 2020-2030, this industry is expected to show remarkable growth prospects. This is attributed to the fact that, industrialization is on the rise in a majority of high potential areas across the world.

Historically, industrial and automotive goods have been transported from one location to another using railway networks as one of the most reliable sources of transportation. Mounting growth of industrial sectors, especially in developing economies, along with the presence of established rail infrastructure is aiding market expansion across regions.

A standard freight train came at a cost of less than US$ 50,000 a decade earlier. Today, it stands between US$ 100,000 and US$ 150,000. This has been the main reason for a majority of consumers increasingly opting for railcar leasing instead of purchasing a newer railcar.

Moreover, railcars find application usage across various end-use markets, which is the prime reason attributing to the compounding growth of railcar leasing. Adding to this fact, multiple research and collaborations being undertaken by numerous key players to develop performance-enhanced railcars are also aiding market development.

For instance, VTG started testing its wagons developed under project m2 in collaboration with DB Cargo. These newly developed wagons utilize 3-6% lesser traction energy, produce 3-8dB lesser noise, and are incorporated with various digital enhancements.
Similarly, key railcar lessors are adopting intuitive strategies so as to capitalize on growing rail transport requirements in high-potential regions. Owing to these broad factors, railcar leasing demand is likely to increase substantially, expanding at a CAGR exceeding 9% throughout the 2020-2030 assessment period.

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Why is Railcar Leasing Beneficial in the Long Run?
The most important factor for a shipper leasing its own railcars is greater control of the supply chain. Further, shippers are not subject to supply and demand difficulties of other users of the same railway type in case of railcar leasing.

Shippers manage transport capacity directly through the relation between their car fleet and production lines. Furthermore, demurrage costs are reduced to a greater extent when the lessor and asset management agency properly maintain a record of the leasing timeline and manage the railcars efficiently.

Moreover, private railcars sometimes act as storage units when the receiver is unable to handle delivery or facilitate the timely unloading of goods. However, it must be noted that, railcar leasing is a relatively long-term commitment, and is subjected to various regulations (generally extended for 30 years or more).

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Key Segments Covered

Railcar Type

Hopper Cars
Boxcars
Tank Cars
Flat Cars
Gondolas
Intermodal
Refrigerated Box Cars
Other Railcars

End Use

Agri-produce, Forestry and F&B Products
Mining Products
Petrochemicals & Gases
Automotive & Components
Energy Equipment & Products
Rail Products
Industrial Goods
Construction Goods

Region
North America
Latin America
Europe
Asia Pacific
Middle East & Africa

Competitive Landscape

Aforementioned players rely on a blend of organic and inorganic strategies to deepen penetration across lucrative markets. These strategies include product launches, collaborations with key players, partnerships, acquisitions, and strengthening of regional and global distribution networks.

For instance, GATX, in 2020, announced the acquisition of Trifleet Holdings. This will give it access to 18,000 railcar containers worldwide, leased to customers in the gas, food, cryogenic, and pharmaceutical sectors. Further, GATX has also spent in expanding its maintenance facilities in Ware County, in 2018, which is planned to be completed in two phases.
VTG, in 2020, partnered with Nexxiot to utilize its temperature sensors in its wagons, and provide real-time monitoring of its high-value temperature-sensitive goods. Moreover, VTG acquired the operations of Slovakia’s Carbo rail in 2020, by obtaining a majority stake in the company, which was aimed towards improving its operational capability in the European market.

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