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Rail Freight Market Report 2024: Trends, Share, Size, Growth Opportunities, In-Depth Analysis And Forecast To 2033
Rail Freight Market Report
The Business Research Company presents an extensive market research report on the Rail Freight Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The rail freight market size has grown strongly in recent years. It will grow from $276.39 billion in 2023 to $291.62 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to growth in international trade, low cost of railway transportation, and growing sustainability in transportation..
The rail freight market size is expected to see strong growth in the next few years. It will grow to $360.65 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to government support, global population growth and urbanization, increasing growth of intermodal transportation, and a surge in development and testing of autonomous trains. Major trends in the forecast period include strategic partnerships and acquisitions to improve financial strength, implementing precision scheduled railroading, using artificial intelligence (ai) to provide accurate analysis and real time transport operations, launching new advanced freight trains to aid in development of new and advanced products with advanced technologies, and using rail vehicle visibility tools..
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Key Market Players:
Major companies operating in the rail freight market report are Berkshire Hathaway Inc, China Railway Corporation, Canadian National Railway, Union Pacific Corporation, Norfolk Southern Corporation, DB Cargo UK (formerly EWS), Japan Freight Railway Company (JR Freight), Etihad Rail DB, Tiger Logistics India Limited, Kansas City Southern, Companhia Paulista de Trens Metropolitanos, SNCF, BNSF Railway, Atlas Logistics, Porr Qatar Construction WLL, Vale, Direct Rail Services, Jenkar Shipping Ltd, SuperVia, Imt Express, Quebec North Shore and Labrador Railway (QNS&L), Miracle Logistics Company Ghana Limited, Deutsche Bahn AG, Freightliner, Indian Railways, VLI Logística, Shree Shyam Logistics, Rumo, Orchid Global Sourcing, CG Logistics Pvt. Ltd, Interem Packers & Movers, Ceské dráhy (Ceské Dráhy, A.s.), RFFSA, Botswana Rail (BR), Delhi Cargo & Courier Services, MRS Logistics, Russian Railways, Shiprocket, TransContainer, Om Logistics, Saudi Arabia Railways, Anshika Express Cargo, CSX Corporation, Transnet Freight Rail, Alstom, Traxport , SYSTRA, GB Railfreight, SLR Shipping Services LLC, RAIL1520 Ltd, América Latina Logística, OJSC Altaivagon, Canadian Pacific, VSL Logistics and Freight forwarding solutions, Achievers Logistics Ghana, Accra
Market Drivers:
The growing need for freight services is expected to propel the growth of the rail freight market going forward. Freight encompasses items or merchandise moved from one location to another, employing various modes of transportation like ships, aircraft, trains, or trucks. Railways are a frequently chosen method for transporting cargo over extended distances due to their efficiency and economical nature. For instance, in June 2023, according to the Association of American Railroads, a US-based trade association, the total volume of freight shipments in the United States is projected to grow from approximately 19.3 billion tons in 2020 to 25.1 billion tons in 2040, reflecting a 30% increase. Therefore, the growing need for freight services is driving the growth of the rail freight market.
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https://www.thebusinessresearchcompany.com/report/rail-freight-global-market-report
The rail freight market covered in this report is segmented -
1) By Type: Intermodals, Tank Wagons, Freight Cars
2) By Freight Type: Containerized, Liquid, Commodities, Other Freight Types
3) By Destination: Domestic, International
4) By Application: Oil And Gas, Mining Industry, Logistics Industry, Post Service, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?"
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