Rail Logistics Market : Asia-Pacific Region to Rise at CAGR 7.2% During 2022 to 2031 AMR

The rail logistics market was valued at $1,995.00 billion in 2021, and is estimated to reach $3,579.7 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031.

Asia-Pacific is expected to dominate the global rail logistics market during the forecast period. Increase in trade in the region is attributed to increase in investments by governments for rail freight used for movement of goods. For instance, governments of India and Nepal launched Jaynagar-Kurtha Railway link, a cross-border railway aimed at enhancing investment, commerce, and trading activities between the two countries.

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The rail logistics market is estimated to witness growth, owing to increasing trade activities across the globe, and increasing trade related contracts, over the forecast period. In addition, rising demand for goods from various regional markets is helping to build better trade relations within neighbouring regions, thereby fuelling the growth of the global market over the forecast period. Moreover, government in several countries across the globe are launching various trade & transportation initiatives to strengthen transportation infrastructure in their region, which also contribute in the growth of the market. For instance, in 2019, the Canadian government invested $2.1 billion for the Trade and Transportation Corridors Initiative (TTCI) to build stronger, more efficient transportation corridors to international markets. The core element of the TTCI is the merit-based National Trade Corridors Fund (NTCF), which will provide $2 billion over 11 years to strengthen Canada's trade infrastructure, including ports, waterways, airports, roads, bridges, border crossings, rail networks, and interconnectivity between them.

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COVID-19 Impact Analysis

The rapid spread of coronavirus pandemic has brought unprecedented challenges and threatens the normal life of human beings and global public health. Owing to this pandemic, many businesses are halted and are waiting for the rail logistics market conditions to improve. In addition, to contain the spread of COVID-19, countries such as the U.S., India, the Netherlands, Brazil, and Colombia took extreme measures such as lockdown, social distancing, stay-home regulation, and social Isolation.

Following the directions of the World Health Organization (WHO) for minimizing the spread of the virus, governments of various countries have set up lockdown and trade restrictions, which has disrupted the exports, especially from China, causing large scale manufacturing interruptions across Europe, and the closure of assembly plants in the U.S. The situation has put intense pressure on the rail logistics industry. The railway department has shut down all the passenger train services and has limited its freight transport services with a reduction in demand for commodities and disturbed supply chain.

Key players operating in the global rail logistics market include A.P. Moller-Maersk, CEVA Logistics AG, C.H. Robinson Worldwide, Inc., DB Schenker, Deutsche Post DHL Group, DSV A/S, Geodis, FedEx, Kuehne+Nagel International AG, Nippon Express Co., Ltd., United Parcel Service of America, Inc.

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