Global Rail Transport Market Trends And Strategies Of Major Players In The Rail Transport Market 2021-2030
9 Jul, 2021
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.
Global Rail Transport Market Size And Drivers:
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%. The rail transportation services market growth is aided by stable economic growth forecasted in many developed and developing countries.
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Trends In The Global Rail Transport Market
Advanced driver assistance system (ADAS) technology is becoming popular in the rail transportation industry to optimize energy usage, enhance operational management, safety and aid in cost reduction. These systems provide automatic warning, protection, operation, supervision, and control arrangement. They also aid in meeting stringent government regulations towards passenger safety. Around 60 million units of advanced driver assistance systems were produced globally
Global Rail Transport Market Segments:
The global rail transport market is further segmented based on type, distance and geography.
By Type: Passenger Rail Transport, Rail Freight
By Distance: Long-Distance, Short-Distance
Sub segments Covered: Medium-Distance Passenger Transport, Long-Distance Passenger Transport, Short-Distance Passenger Transport, Intermodals, Tank Wagons, Freight Cars
By Geography: The global rail transport market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global rail transport market, accounting for 42% of the market in 2020.
Read More On The Report For The Global Rail Transport Market At:https://www.thebusinessresearchcompany.com/report/rail-transport-global-market-report-2020-30-covid-19-impact-and-recovery
Rail Transport Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides rail transport market overviews, analyzes and forecasts market size and growth for the global rail transport market, rail transport market share, rail transport market players, rail transport market segments and geographies, rail transport market’s leading competitors’ revenues, profiles and market shares. The rail transport market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.