Global Intermodals Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
14 Oct, 2021
The intermodal market consists of sales of intermodal rail freight transportation services and related goods by entities (organizations, sole traders, and partnerships) that provide the transportation of freight in an intermodal container. In this mode, handling of the freight is not done manually when changing a rail carrier, thus increasing the security of the transported product substantially. Only goods and services traded between entities or sold to end consumers are included.
Global Intermodals Market Size And Drivers:
The global intermodals market is expected to grow from $49.48 billion in 2020 to $54.26 billion in 2021 at a compound annual growth rate (CAGR) of 9.7%. 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 $69.44 billion in 2025 at a CAGR of 6.4%. The sustainable nature of intermodal rail transport is expected to drive the intermodals market.
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Trends In The Global Intermodals Market
Organizations are implementing precision scheduled railroading that is gaining popularity in the intermodal market over recent years. Precision scheduled railroading (PSR) is a plan that includes centralizing operations, reducing staff, running less, heavier, faster trains, and optimizing the network to increase efficiency. For instance, in April 2019, Norfolk Southern rolled out the precision-scheduled railroading (PSR) plan to improve its services. In addition to this, according to the Railway Gazette International, in 2019, Kansas City Southern has implemented precision scheduled railroading for improved cost structure, improved customer service, and consistent and reliable operations.
Global Intermodals Market Segments:
The global intermodals market is further segmented –
By Type: Container-On-Flatcar (COFC), Trailer-On-Flatcar (TOFC)
By Destination: Domestic, International
By Application: Oil And Gas, Aerospace And Defense, Industrial And Manufacturing, Construction, Chemical, Food And Beverages, Healthcare, Others
By Geography: The global intermodals market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Intermodals Market At:
https://www.thebusinessresearchcompany.com/report/intermodals-global-market-reportIntermodals Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides intermodals market overviews, analyzes and forecasts market size and growth for the global intermodals market, intermodals market share, intermodals market players, intermodals market segments and geographies, intermodals market’s leading competitors’ revenues, profiles and market shares. The intermodals market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.