The rail transport market consists of sales of rail transportation services and related goods by entities (organizations, sole traders and partnerships) that use trains to provide transport for passengers and/or cargo.Railroads operate either on networks with physical facilities, labor forces, and equipment spread over a wide geographic area or operate over a short distance on a local rail line.This market excludes street railroads, commuter rail, urban rapid transit, and scenic and sightseeing train transportation.The rail transport market is segmented into passenger rail transport and rail freight.
The global rail transport market is expected to grow from $468.7 billion in 2020 to $519.3 billion in 2021 at a compound annual growth rate (CAGR) of 10.%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.The market is expected to reach $658.9 billion in 2025 at a CAGR of 6%.
