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Freight Cars Global Market is Projected to Witness Substantial Growth, reaching an Estimated Value of $225.91 Billion at a CAGR of 4.8% By 2028 | Key Players: DB Schenker, SBB Cargo AG, Union Pacific Railroad, Kansas City Southern, CSX Corporation
Freight Cars Market
The Business Research Company's Freight Cars Global Market Report 2023 identifies the Government initiatives are expected to boost the freight car market growth. For instance, in September 2021, the Indian government think tank Niti Aayog, launched the 'Shoonya' initiative, which aims to fully electrify fleet vehicles in the urban freight sector within the next two years, as part of a massive effort to accelerate the adoption of electric vehicles and build an ecosystem for them in the nation.
The freight cars market size has grown steadily in recent years. It will grow from $178.67 billion in 2023 to $187.15 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to supportive government schemes, upcoming projects for railway networks, digitalization in the existing freight car network, growth in end-user industries and trade agreements among countries. The freight cars market size is expected to see steady growth in the next few years. It will grow to $225.91 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%.
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Major companies operating in the freight cars market include Canadian National Railway, DB Schenker, SBB Cargo AG, Union Pacific Railroad, Kansas City Southern, CSX Corporation, Norfolk Southern Corporation, Housatonic Railroad Company, Linfox Pty Ltd., Trinity Rail Group LLC, Greenbrier Companies, National Steel Car Ltd., American Railcar Industries Inc., FreightCar America Inc., The Andersons Rail Group, GATX Corporation, Union Tank Car Company, Trinity Industries Inc., CIMC Railcar, GB Railfreight, CRRC Corporation Limited, CSR Corporation Limited, Bombardier Inc., Siemens Mobility, Alstom, Stadler Rail AG, Kawasaki Heavy Industries Ltd., Hitachi Rail Italy SpA, Hyundai Rotem Company, Talgo Group, Newag SA, Skoda Transportation AS, CRRC Changchun Railway Vehicles
Growing economy globally is expected to propel the growth of the car freight market going forward. Economic growth is contributed by investment in infrastructure, technology, and capital goods, innovation technology, consumer spending, and several other factors.
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The Freight Cars market is segmented -
1) By Type: Intermodals, Tank Wagons, Freight Cars
2) By Application: Coal, Petroleum And Chemicals, Metals And Minerals, Automobiles, Agricultural Products, Other Applications
3) By End-Use Industries: Agriculture, Construction, Oil & Gas, Chemical, Medical & Pharmaceuticals, Food & Beverages, Government & Defense, Automotive & Transportation, Marine
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Freight Cars market.
The Business Research Company's "Global Freight Cars Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Freight Cars Market Include:
1. Executive Summary
2. Freight Cars Market Characteristics
3. Freight Cars Market Trends And Strategies
4. Freight Cars Market - Macro Economic Scenario
5. Global Freight Cars Market Size and Growth
……
31. Global Freight Cars Market Competitive Benchmarking
32. Global Freight Cars Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Freight Cars Market
34. Freight Cars Market Future Outlook and Potential Analysis
35. Appendix
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