Rail Freight Global Market To Reach Value Of About $351 Billion In 2025
17 Feb, 2021
The rail freight market consists of sales of rail freight transportation services and related goods by entities (organizations, sole traders and partnerships) that provide the carriage of goods from a point of loading, or goods station, to a point of unloading, again a station capable of handling the loading and unloading of the goods carried. These goods are generally heavy in bulk and of low value in relation to their bulk. Examples include coal, building materials, iron and steel. The rail freight market is segmented into intermodals, tank wagons and freight cars.
Global Rail Freight Market Size And Drivers:
The global rail freight market is expected to grow from $247.39 billion in 2020 to $271.87 billion in 2021 at a compound annual growth rate (CAGR) of 9.9%. The market is expected to reach $351 billion in 2025 at a CAGR of 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.
Request For A Sample For The Global Rail Freight Market Report:
Trends In The Global Rail Freight Market
Tracking and tracing systems of rail freight using GPS and GSM helps the transportation organizations to overcome the rail freight transportation drawbacks such as lost and theft. It provides full-fledged security and monetarization of freights and more effective and efficient freight transportation over short distances for smaller loads.
Global Rail Freight Market Segments:
The global rail freight market is further segmented based on type, destination, application, freight type and geography.
By Type:Intermodals, Tank Wagons, Freight Cars.
By Destination:Domestic, International.
By Application:Oil and Gas, Mining Industry, Logistic Industry, Post Service, Others.
By Freight Type:Containerized, Liquid, Commodities, Others.
By Geography:The global rail freight 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 freight market, accounting for 42% of the total market.
Read More On The Report For The Global Rail Freight Market At:
Rail Freight Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides rail freight market overviews, analyzes and forecasts market size and growth for the global rail freight market, rail freight market share, rail freight market players, rail freight market segments and geographies, rail freight market’s leading competitors’ revenues, profiles and market shares. The rail freight market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.