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Evolving Market Trends In The Rail Freight Industry: Introduction Of French Hybrid Trains Aims For Enhanced Sustainability And Profitability
Rail Freight
What Is the Expected Rail Freight Market Size During the Forecast Period?
Over the past few years, the rail freight market has experienced robust growth. The market, estimated at $296.8 billion in 2024, is projected to increase to $316.15 billion in 2025, marking a compound annual growth rate (CAGR) of 6.5%. The historical growth can be ascribed to the expansion of international commerce, the affordability of rail transport, and the surge in sustainable transport.
Expectations are high for the rail freight market size to experience a substantial surge in the imminent years, anticipated to reach a valuation of $387.32 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.2%. This anticipated growth during the forecast period can be linked to several factors such as governmental backing, global population surge and urbanization, a rise in intermodal transportation growth, along with a development and test boost in autonomous trains. Significant tendencies during the forecast period consist of strategic partnerships and buyouts to boost financial resilience, the adoption of precision-scheduled railroading, employing artificial intelligence (AI) for precise analysis and real-time transport operations, the introduction of new cutting-edge freight trains to assist in concocting novel and high-tech products, and the application of rail vehicle visibility instruments.
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What Are the High-Growth Segments in the Rail Freight Market?
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
Subsegments:
1) By Intermodals: Containerized Cargo, Trailer-on-Flatcar (TOFC), Double-Stack Container Transport
2) By Tank Wagons: Liquid Cargo, Gas Cargo
3) By Freight Cars: Boxcars, Flatcars, Hopper Cars, Gondola Cars
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What Key Drivers Are Expected to Influence Future Rail Freight Market Growth?
The expansion of the rail freight market is anticipated to be driven by the escalating demand for freight services. Freight involves the movement of goods or merchandise using various modes of transportation, including ships, aircraft, trains, or trucks, between different locations. Due to their cost-effectiveness and efficiency, railways are often preferred for moving cargo over long distances. For instance, the Bureau of Transportation Statistics, a US department of the Department of Transportation (DOT), reported in July 2024 that class I freight and operating revenues had increased by 13.8% in 2022 compared to 2021, amounting to $80 billion in freight revenue and $84.5 billion in operating revenue. As such, the increasing demand for freight services is propelling the evolution of the rail freight market.
Which Companies Hold the Largest Share Across Different Rail Freight Market Segments?
Major companies operating in the rail freight market include 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, SNCF, BNSF Railway, Atlas Logistics, Vale, Direct Rail Services, 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, Ceské dráhy (Ceské Dráhy, A.s), Botswana Rail (BR), Delhi Cargo & Courier Services, MRS Logistics, Russian Railways, TransContainer, Om Logistics, Saudi Arabia Railways, Anshika Express Cargo, CSX Corporation, Transnet Freight Rail, Traxport, GB Railfreight, SLR Shipping Services LLC, RAIL1520 Ltd, América Latina Logística, Canadian Pacific, VSL Logistics and Freight forwarding solutions, Achievers Logistics Ghana
What Are the Latest Developing Trends in the Rail Freight Market?
Prominent businesses in the rail freight industry are exploring new and innovative hybrid train technologies to bolster their market profitability. Hybrid trains, which are electric-diesel-battery powered regional trains equipped with dual-energy storage systems, can minimize energy use and reduce greenhouse gas emissions. In February 2022, Alstom, a rolling stock manufacturer based in France, in tandem with SNCF Voyageurs, introduced France's first hybrid train for the regions of Occitanie, Grand-Est, Nouvelle-Aquitaine, and Centre-Val-de-Loire. This marks the first attempt at hybridization of a Régiolis train in France. The project was kick-started in 2018 with joint efforts from SNCF Group and Alstom, and received substantial financial support from the aforementioned regions. Ultimately, this endeavor aims to contribute to the reduction of the carbon footprint by altering the regional train fleet's composition.
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What Are the Emerging Geographies for The Rail Freight Market Growth?
Asia-Pacific was the largest region in the rail freight market in 2024. North America was the second largest region in the rail freight market. The regions covered in the rail freight market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Rail Freight Market?
2. What is the CAGR expected in the Rail Freight Market?
3. What Are the Key Innovations Transforming the Rail Freight Industry?
4. Which Region Is Leading the Rail Freight Market?
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