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Rail Road Construction Market Size, Share & Growth Analysis Report, 2033
Rail Road Construction
As per the report, the rail road construction market size has grown strongly in recent years. It will grow from $215.28 billion in 2023 to $228.82 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The rail road construction market size is expected to see strong growth in the next few years. It will grow to $279.82 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%.
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Rail Freight Transport Grows The Rail Road Construction Market
The growing demand for rail freight transport is expected to propel the growth of the railroad construction market going forward. Rail freight is the movement of commodities on trains by rail, as opposed to air, ocean, or road transit which allows a larger volume of cargo to be delivered over longer distances. The growth in railroad freight can boost railroad construction as a greater number of trains will be needed to increase rail freight transport. For instance, according to Eurostat, a statistical office of the European Union (EU), rail freight transport in the EU increased in 2021 by 8.7% compared to 2020. Therefore, the growing demand for rail freight transport is driving the growth of the railroad construction market.
Product Innovations To Enhance Efficiency And Safety
Product innovations are a key trend gaining popularity in the rail road construction market. Major companies operating in the railroad construction market are developing innovative solutions to sustain their position in the market. For instance, in March 2021, Pandrol, a France-based rail technology company launched a new line of rail-cutting discs to address the ongoing difficulties that rail maintenance personnel encounter when cutting rail tracks. The new line of Pandrol rail-cutting discs has been created to increase rail-cutting productivity while lowering maintenance costs, enhancing safety, and minimizing environmental effects by producing less. The new solution can be used during rail road repair or alterations.
The rail road construction market covered in this report is segmented -
1) By Train Type: Metro, Light Rail, Bullet Train or High-Speed Rail (HSR)
2) By Construction Type: New Construction, Renovation
3) By Application: Urban, Rural
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Major companies operating in the rail road construction market report are Railroad Construction Company Inc., SNCF Group, Union Pacific Corporation, OAO Rossiyskie zheleznye dorogi, Burlington Northern and Santa Fe Railway, CSX Corporation, Canadian Pacific Railway Ltd., Deutsche Bahn, JSC Russian Railways, Kansas City Southern Railway, Canadian National Railway Company, Norfolk Southern Corporation, China Railway Engineering Group Company Limited, China Railway Construction Corporation Group, Larsen & Toubro Ltd., China Communications Construction Group Ltd., Actividades de Construccion y Servicios SA, Skanska USA Inc., Kiewit Corporation, Bechtel Corporation, Fluor Corporation, The Lane Construction Corporation, Granite Construction Inc., Walsh Group Ltd., Turner Corporation, Whiting-Turner Contracting Company, Clark Construction Group LLC, PCL family of companies, Tutor Perini Corporation, Dragados USA Inc., Flatiron Construction Corporation, Zachry Group, Skanska AB, Vinci SA, Bouygues SA, ACS Group, Ferrovial SA .
Contents of the report:
1. Executive Summary
2. Rail Road Construction Market Report Structure
3. Rail Road Construction Market Trends And Strategies
4. Rail Road Construction Market - Macro Economic Scenario
5. Rail Road Construction Market Size And Growth
…..
27. Rail Road Construction Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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