Global Freight Cars Market Comprehensive Study: Forecasted Market Size And Growth Rate

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Freight Cars Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
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%. The growth in the forecast period can be attributed to increasing government investment, increased transportation activities, increase in road accidents or casualties resulting in car damage, future fleet management practices for freight businesses and prioritization of fleet maintenance over purchasing new vehicles. Major trends in the forecast period include advancements in technology, increasing focus on sustainability, focus on reducing carbon emissions, increasing adoption of automation and product depelopments.

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Market Segmentation:
The main types of freight cars covered in this report are intermodal, tank wagons, and freight cars. A tank wagon is defined as a vehicle that is designed to carry gases or liquids. It is also segmented by application into coal, petroleum and chemicals, metals and minerals, automobiles, agricultural products, and other applications. It is also segmented by end-use industries into agriculture, construction, oil and gas, chemical, medical and pharmaceuticals, food and beverages, government and defense, automotive and transportation, and marine.

Major Driver - Government Initiatives Accelerating Freight Car Market Growth
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. Therefore, the steps taken by the government to increase rail freight will increase the demand for freight cars market growth during the period.

Competitive Landscape:
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

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Top Trend - Gps Tracking In Freight Car Management
Freight cars are now enabled with GPS tracking and this is likely to be an emerging trend in the freight car market. The efficiency of freight car transport will be augmented with the use of advanced GPS technologies. Rail operators' incorporation of GPS technologies into freight cars aids in managing the transport process, scheduling freight cars, maintaining a consistent delivery process, and reducing freight car theft. For instance, in June 2022, Indian Railways began real-time monitoring of trains (passenger and freight) using the Control Office Application (COA) system. The COA was designed by ISRO after collaborating with the Indian Railways to monitor the movement of freight cars even between two stations with GPS. Therefore, the demand for freight cars is expected to be increased with the incorporation of certain criteria such as real-time data and on-time deliveries.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Freight Cars Market Characteristics
3. Freight Cars Market Trends And Strategies
4. Freight Cars Market - Macro Economic Scenario
5. Freight Cars Market Size And Growth
…..
27. Freight Cars Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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