Global Intermodals Market

Passenger Rail Transport Market Definition

The passenger chartered air transport market consists of sales of passenger chartered air transportation services and related goods by entities (organizations, sole traders, and partnerships) that use aircraft, such as aeroplanes and helicopters, to provide chartered (non-scheduled) air transportation services for passengers at a toll per mile or hour for the charter of the aircraft. Only goods and services traded between entities or sold to end consumers are included. The main types of passenger chartered air transport covered in this report are private charter services and business charter services. Private charter services involve situations in which an individual can rent an entire aircraft from a commercial airline. It is also segmented by size into light jets, mid-sized jets, large jets, and airliners. The market covered is segmented by capacity into less than 10, 10-100, and greater than 100. The passenger chartered air transport market research report is one of a series of new reports from The Business Research Company that provides passenger chartered air transport market statistics, including passenger chartered air transport services industry global market size, regional shares, competitors with a passenger chartered air transport market share, detailed passenger chartered air transport market segments, market trends and opportunities, and any further data you may need to thrive in the passenger chartered air transport services industry. This passenger chartered air transport market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global passenger chartered air transport market grew from $45.07 billion in 2021 to $48.83 billion in 2022 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The passenger chartered air transport market is expected to grow to $60.97 billion in 2016 at a CAGR of 5.7%. The increasing preference for private charters by ultra-high net worth individuals (UHNWI) is expected to drive the global passenger-chartered air transport market. Most UHNWI are inclined towards private charters rather than owning jets. In the Asia Pacific, Australia leads the market with 57 charter jets for 27 billionaires, followed by Singapore, which has 30 charter jets for 28 billionaires. The prevalence of COVID-19 has also supported the growth of the market as the individual’s travelling had to maintain social distance and the UHNWIs were looking for safe and customised travel options. The growing preference for private charters has contributed to the growth of the passenger-chartered air transport market. Fluctuating fuel prices are expected to hinder the growth of the passenger-chartered air transport market. An increase in fuel prices increases the operating costs of charter flights, which increases the rental price of charter flights. In India, for example, jet fuel prices increased by $64.14 per kilolitre in March 2019, an increase of 8.15%. Therefore, sudden fluctuations in price are expected to impact the growth of the passenger-chartered air transport market. A custom luxury vacation tour by chartered jet is a major trend gaining popularity in the global passenger chartered air transport market. People are prioritising travel, adventures, and unique experiences, and private chartered jet services are offering customised tours for groups of travellers on round-the-world tours as well. For instance, Abercrombie & Kent (A&K), a luxury travel company that provides round-the-world tours on all-first-class airliners, is now offering personalised tours through bizjet for up to 16 passengers. In March 2020, Wheels Up, a leader in total aviation solutions, acquired Gama Aviation for an undisclosed amount. The acquisition will increase Wheels Up’s fleet with more than 300 planes owned and operated. Gama Aviation is a leading private aviation services company that provides aircraft management, private jet charter, and ancillary support for its managed aircraft. Major players in the passenger chartered air transport market are Air Charter Service Group Ltd., Air Partner Plc, Asia Jet Partners Ltd., ASIAN SKY GROUP, Delta Private Jets, Inc., Flexjet LLC, Gama Aviation Plc, GlobeAir AG, NetJets Aviation Inc, and XO Global LLC. North America was the largest region in the passenger chartered air transport market in 2021. Asia Pacific was the second largest region in the passenger chartered air transport market. The regions covered in the passenger chartered air transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the passenger chartered air transport market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global passenger chartered air transport market is segmented - 1) By Type: Private Charter Services, Business Charter Services 2) By Size: Light Jets, Mid Sized Jets, Large Jets, Air Liner 3) By Capacity: Less than 10, 10-100, Greater than 100

The freight chartered air transport services market consists of sales of freight chartered air transportation services by entities (organizations, sole traders, and partnerships) that use aircraft, such as aeroplanes and helicopters, to provide chartered (non-scheduled) air transportation services for cargo at a toll per mile or hour for the charter of the aircraft. Only goods and services traded between entities or sold to end consumers are included. The main cargo types in the freight chartered air transport services market are time-critical cargo, heavy and outside cargo, dangerous cargo, animal transportation, and others. Dangerous cargo involves the shipment of substances that are at a risk to health, property, safety, or the environment. The market is segmented by application into private use and commercial use and by end-use into wealthy individuals, sports teams, and large corporations. The freight chartered air transport services market research report is one of a series of new reports from The Business Research Company that provides freight chartered air transport services market statistics, including freight chartered air transport services industry global market size, regional shares, competitors with a freight chartered air transport services market share, detailed freight chartered air transport services market segments, market trends and opportunities, and any further data you may need to thrive in the freight chartered air transport services industry. This freight chartered air transport services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global freight chartered air transport market grew from $20.92 billion in 2021 to $23.72 billion in 2022 at a compound annual growth rate (CAGR) of 13.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The freight chartered air transport market is expected to grow to $35.64 billion in 2016 at a CAGR of 10.7%. The growing need for urgent shipment of dangerous goods and hazardous materials is expected to drive the freight chartered air transport market. Sensitive freight with dangerous goods includes explosives, highly flammable gases, radioactive materials, and military items. Toxic and infectious substances require a special skill set and expert knowledge for shipping the goods. These goods are transported through chartered cargo to avoid explosions and contamination. For instance, the Federal Aviation Administration (FAA) of the USA granted the authority for chartered cargo services along with training for all employees, in the form of a part-135 certificate, to operate on demand under an FAA-approved hazardous materials program. Urgent shipment of dangerous goods and hazardous materials is therefore expected to drive market growth. High prices associated with charter cargo flight services are expected to hamper the freight chartered air transport market. The cost of the cargo charter depends on many factors, such as origin and destination points, the type of commodity shipped, dimensions, and weights. For instance, the freight and logistics prices are above $500,000 for an Asia-Europe A330 charter and above $21 per kilogramme on transatlantic routes for some urgent shipments. Additionally, the cost of a B777 or B747 carrying 100 tonnes of cargo was $470,000 earlier, which is now costing between $850,000 and $1 million for a round trip with e-commerce goods and general cargo from Europe to China. Therefore, the skyrocketing cost of freight charter services is expected to hamper the market. Major players in the freight chartered air transport services market are Air Charter Service, Air Transport Services Group Inc., Stratos Jet Charters Inc., Cargo Air Chartering, Cathay Pacific Airways Ltd., Air Partner, and Fliteline. North America was the largest region in the freight chartered air transport services market in 2021. Asia Pacific was the second largest region in the freight chartered air transport services market. The regions covered in the freight chartered air transport services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the freight chartered air transport market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global freight chartered air transport market is segmented - 1) By Cargo Type: Time Critical Cargo, Heavy And Outside Cargo, Dangerous Cargo, Animal Transportation, Other Cargo Types 2) By Application: Private Use, Commercial Use 3) By End Use: Wealthy Individuals, Sports Teams, Large Corportations

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. The main types in the intermodal market are container-on-flatcar (COFC) and trailer-on-flatcar (TOFC). The COFC is a type of rail freight service in which an empty container is loaded and transported on the train's flatcar. The market is covered by destination into domestic and international and by application into oil and gas, aerospace and defense, industrial and manufacturing, construction, chemical, food and beverages, healthcare, and others. The intermodal market research report is one of a series of new reports from The Business Research Company that provides intermodal market statistics, including intermodal industry global market size, regional shares, competitors with an intermodal market share, detailed intermodal market segments, market trends and opportunities, and any further data you may need to thrive in the intermodal industry. This intermodal market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global intermodals market grew from $41.28 billion in 2021 to $44.9 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The intermodals market is expected to grow to $52.72 billion in 2016 at a CAGR of 4.1%. The sustainable nature of intermodal rail transport is expected to drive the intermodal market. Unlike truckloads, rails use less fuel and are faster, which makes intermodal transportation energy and cost-efficient. Over the years, rail fuel efficiency has firmly increased, making it the most environmentally sustainable means of transporting goods overland. According to the Association of American Railroads (AAR), the USA's freight railways can move one tonne of freight more than 470 miles per gallon of fuel on an average. AAR's analysis of federal data finds that if 25% of truck traffic travelling at least 750 miles went by rail instead, annual greenhouse gas emissions were expected to fall by around 13.1 million tonnes, and if 50% of truck traffic moving at least 750 miles, greenhouse gas emissions dropped by about 26.2 million tonnes. The most fuel-efficient form of land transport is moving freight by rail, which reduces transportation costs and promotes brand control for a sustainable environment that encourages the growth of the intermodal market. The competition from the trucking market is anticipated to hinder the intermodal market over the forthcoming years. Limited origin and destination pairing and finite market providers are the major limitations of intermodal over truck loads. Intermodal is not the appropriate solution for every possible origin and destination zip code pairing due to the restricted number of intermodal railroad ramps and dray typically needs to be within 100 miles of their respective ramp. Moreover, the limited number of rail intermodal providers over truckloads is another major challenge for the rail intermodal industry. Thus, truckloads are preferred over rail transport, subsequently restricting the growth of the intermodal market. Organizations are implementing precision scheduled railroading that has been gaining popularity in the intermodal market over recent years. Precision scheduled railroading (PSR) is a plan that includes centralising operations, reducing staff, running fewer, heavier, faster trains, and optimising 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 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. In June 2020, the Canadian Pacific Railway (CP), a Canadian-based railway offering transportation services and supply chain expertise across North America, acquired the entire network of the Central Maine and Quebec Railway (CMQ) for an undisclosed amount. The acquisition provides CP with direct links to Searsport, Maine, and Port Saint John, New Brunswick's Atlantic seaports, which offer CP a 320 km shorter route than competing railways from the east coast to Montreal and Toronto. It also enabled the company to serve customers through a larger coast-to-coast network across Canada and deliver direct Class 1 freight-rail service, including intermodal services, to the State of Maine. Central Maine and Quebec Railway is a Class II freight railway based in the United States that provides intermodal services. Major players in the intermodal market are Union Pacific Railroad, Canadian National Railway, CSX Transportation, Norfolk Southern Railway, BNSF Railway, DB Schenker, SBB Cargo, CTL Logistics, VTG Rail Logistics, and Kuehen+Nagel Logistics. North America was the largest region in the intermodal market in 2021. Asia Pacific was the second largest region in the intermodal market. The regions covered in intermodal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the intermodal market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global intermodals market is segmented - 1) By Type: Container-On-Flatcar (Cofc), Trailer-On-Flatcar (Tofc) 2) By Destination: Domestic, International 3) By Application: Oil And Gas, Aerospace And Defense, Industrial And Manufacturing, Construction, Chemical, Food And Beverages, Healthcare, Other Applications

The dry bulk materials trucking market consists of sales of dry bulk materials trucking services by entities (organizations, sole traders, and partnerships) that provide over-the-road transportation of dry bulk materials. Only goods and services traded between entities or sold to end consumers are included. The main commodity types in the dry bulk materials trucking market are iron ore, coal, and pet coke; grains and agricultural products; cement and aggregates; fertilizers; and others. Iron ore is a rock from which iron is extracted in mineral form. The market is segmented by vessel type into Capesize, handysize, pananmax, and handymax and by application into food and beverages, construction, automotive, energy and mining, agriculture, chemicals, and others. It is divided by end-use into iron ore, steel products, lumber or logs, and others. The dry bulk materials trucking market research report is one of a series of new reports from The Business Research Company that provides dry bulk materials trucking market statistics, including dry bulk materials trucking industry global market size, regional shares, competitors with a dry bulk materials trucking market share, detailed dry bulk materials trucking market segments, market trends and opportunities, and any further data you may need to thrive in the dry bulk materials trucking industry. This dry bulk materials trucking market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global dry bulk materials market grew from $330.42 billion in 2021 to $364.8 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The dry bulk materials market is expected to grow to $493.42 billion in 2016 at a CAGR of 7.8%. Rising demand for raw materials for the manufacturing, defense, and infrastructure sectors is driving the growth of the dry bulk material trucking market. This upsurge in demand is attributed to the rise in industrialization, population, and urbanization. For instance, according to the report of the World Bank, the European mineral raw materials industry demonstrated a considerable increase in the production of minerals needed for clean energy technologies. It additionally clarifies the requirement for a wide range of minerals and metals for implementing renewable energy strategies and their related infrastructure. The demand for minerals such as graphite, lithium, and cobalt is expected to be as high as 500% by 2050. There is a need for efficient dry bulk trucks to carry these dry bulk materials, thereby driving the market for the dry bulk material trucking market. The restrictions on high rates of carbon emissions from dry bulk carrier trucks are expected to limit the growth of the dry bulk material trucking market. The EU Commission proposed a regulation setting the first-ever CO2 emission performance standards for new heavy-duty vehicles. The targeted reduction in average CO2 emissions from heavy-duty vehicles in 2025 is likely to be 15% lower than in 2019. Such impositions can cause a threat to dry bulk carrier trucks as they increase operational expenditure, thus restricting the growth of the dry bulk material trucking market. The dry bulk material trucking market is increasingly using technology for higher output and efficiency, which is gaining significant popularity in the dry bulk material trucking market. The use of technology includes artificial intelligence, automation, the use of apps, and others. For instance, in April 2020, Roger, a technology company for trucks, has developed an app that will provide real-time information about the status and location of all their current loads, boosting the efficiency of the businesses. The technology reduces information generation time, digitises paperwork, tickets, and back-and-forth communication. The app will have features such as paperless tickets, fast digital payment processing, integrations with major industry ERPs, and a digital freight marketplace. In September 2020, TFI International Inc., a Canada-based transport and logistics company operating across the USA, Canada, and Mexico, acquired CCC Transportation for $6.8 million. The company acquired all the assets of CCC Transportation and related real estate and equipment. The acquisition will help TFI International Inc. expand its footprint in the US specialised truckload business. CCC Transportation is a USA-based bulk carrier company that offers dry vans, intermodal, dedicated fleets, logistics, and retail direct delivery. Major players in the dry bulk materials trucking market are Melvin Orr Trucking, C.H. Robinson, J.B. Hunt Transport Services Inc., YRC Freight, Swift Transportation, Landstar System Inc., Transpro Burgener, Bulkmatic, Kenan Advantage Group, and Quality Distribution. Asia Pacific was the largest region in the dry bulk materials market in 2021. North America was the second largest region in the dry bulk materials market. The regions covered in dry bulk materials trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the dry bulk materials market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global dry bulk materials market is segmented - 1) By Commodity Type: Iron Ore, Coal And Pet Coke, Grains And Agricultural Products, Cement/ Aggregates, Fertilizers, Other Commodity Types 2) By Application: Food And Beverages, Construction, Automotive, Energy And Mining, Agriculture, Chemicals, Other Applications 3) By Vessel Type: Capesize, Handysize, Pananmax, Handymax 4) By End Use: Iron Ore, Steel Products, Lumber or Log, Other End Users

The inland water passenger transport market consists of sales of inland water passenger transportation and related services by entities (organizations, sole traders, and partnerships) that provide inland water transportation of passengers on lakes, rivers, or intra-coastal waterways. The main passenger transportation types in the inland water passenger transport market are canal passenger transportation, intercostal transportation of passengers, lake passenger transportation, water shuttle services, river passenger transportation, ship chartering with the crew, and water taxi services. Lake passenger transportation provides inland water transportation of passengers on lakes. The market is segmented by mode into cruise ships, cargo-passenger ships, ferry ships, and others; and by application into the supply chain, distribution, and end customers. The inland water passenger transport market research report is one of a series of new reports from The Business Research Company that provides inland water passenger transport market statistics, including inland water passenger transport industry global market size, regional shares, competitors with an inland water passenger transport market share, detailed inland water passenger transport market segments, market trends and opportunities, and any further data you may need to thrive in the inland water passenger transport industry. This inland water passenger transport market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global inland water passenger transport market grew from $1.49 billion in 2021 to $1.61 billion in 2022 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The inland water passenger transport market is expected to grow to $1.94 billion in 2016 at a CAGR of 4.8%. The rising use of boats through inland waterways as a means of providing sightseeing services is expected to drive the inland waterway passenger transport market. There are many places, such as the Mine Bay Rock Carvings in New Zealand, Horizontal Falls in Australia, Agia Roumeli in Greece, and others, that are not accessible by roads but only through waterways, generating higher demand for inland waterway passenger transport services. According to Voices navigable de France, the French navigation authority, sightseeing vessels carried 11 million passengers and employed 1,440 people in France. Moreover, according to the European Barge Union's Annual Report 2019-2020, the number of cruise passengers on European rivers increased by 9.9%, reaching 1.79 million passengers. Hence, an increase in the use of boats on inland waterways for sightseeing is boosting the inland waterway passenger transport market. Safety issues associated with boat services operating on inland waterways like rivers, lakes, and others are expected to limit the growth of the inland water passenger transport market. Traveling by boat on inland waterways is always associated with risks. Overloading, or even minor negligence, can lead to an unfortunate incident that could lead to a loss of life. According to 2019 Recreational Boating Statistics published by the US Coast Guard, in 2019, 4,168 accidents, including 2,559 injuries, 613 deaths, and about $55 million in property damage, were reported due to recreational boating accidents. In addition to this, according to the Australian Maritime Safety Authority, in August 2020, Australia reported 83 incidents involving domestic commercial vessels. Factors such as overcrowding, not maintaining proper safety measures, natural disasters and sudden climate change are reasons for poor safety for passengers, restricting the growth of the inland water passenger transport market. Companies in the inland water passenger transport market are increasingly implementing technology for enhancing the passenger and guest experience on-board. Cruise and ferry boats are among the first inland waterway passenger ships to adopt and integrate the technology. For instance, in February 2019, MSC Cruises installed virtual personal assistants, ZOE, in all guest cabins on-board. Similarly, in February 2019, European ferry operator Stena Line created a new chatbot named Stina to provide UK customers with 24/7 assistance and help them book ferry trips. Moreover, in July 2019, Fred. Olsen Cruise Lines introduced an onboard app with SimpleClick, a software development agency, to deliver information about the cruise, activities, and meals with limited connectivity. In October 2020, Hornblower Group, a USA-based leading yacht and public dining cruise company, acquired Shore Excursions of America for an undisclosed amount. Through this acquisition, Hornblower Group plans to expand its land excursion portfolio while further creating a more seamless booking process for agents and consumers. Shore Excursions of America (SEA) is a US-based provider of cruise extension packages, shore excursions, and uniquely inclusive exploration travel. Major players in the inland water passenger transport market are American Commercial Lines LLC, Ingram Industries, Jeffboat, European Cruise Service, Alnmaritec Ltd., Bayliner, Groupe Beneteau, CIWTC, CMA CGM Group, and Carnival Corporation. Western Europec was the largest region in the a inland water passenger transport market in 2021. Asia Pacific was the second largest region in the a inland water passenger transport market. The regions covered in the inland water passenger transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the inland water passenger transport market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global inland water passenger transport market is segmented - 1) By Passenger Transportation Type: Canal Passenger Transportation, Intercostal Transportation Of Passengers, Lake Passenger Transportation, Water Shuttle Services, River Passenger Transportation, Ship Chartering With Crew, Water Taxi Services 2) By Mode: Cruise Ships, Cargo-Passenger Ship, Ferry Ships, Other Modes 3) By Application: Supply Chain, Distribution, End Customers

The freight car market consists of sales of freight cars, rail freight transportation services, and related goods by entities (organizations, sole traders, and partnerships) that provide the transportation of freight in a freight car. Freight cars are a type of railroad car or rolling stock that is designed to transport goods on a rail transport system. Only goods and services traded between entities or sold to end consumers are included. The main types of freight cars covered in this report are intermodal, tank wagons, and freight cars. A tank waggon is defined as a vehicle that is designed to carry gases or liquids. It is also segmented by application into coal, petroleum and chemicals, metals and minerals, automobiles, agricultural products, and other applications. It is also segmented by end-use industries into agriculture; construction; oil and gas; chemical; medical and pharmaceuticals; food and beverages; government and defense; automotive and transportation; and marine. The freight car market research report is one of a series of new reports from The Business Research Company that provides freight car market statistics, including freight car industry global market size, regional shares, competitors with a freight car market share, detailed freight car market segments, market trends and opportunities, and any further data you may need to thrive in the freight car industry. This freight car market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global freight cars market grew from $137.85 billion in 2021 to $142.83 billion in 2022 at a compound annual growth rate (CAGR) of 3.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The freight cars market is expected to grow to $172.52 billion in 2016 at a CAGR of 4.8%. Government initiatives are expected to boost the freight car market's growth. For instance, in 2019, the Indian government has taken initiatives to make rail freight more attractive through long-term tariff contracts with major customers, providing incentives to container traffic, tariff rationalisation initiatives, the launch of schemes such as the General Purpose Wagon Investment Scheme (GPWIS), Liberalized Wagon Investment Scheme (LWIS), Special Freight Train Operator (SFTO), and Automobile Freight Train Operator (AFTO), and other applications. Investments in railway infrastructure have also been looked into by the government of India by making investor-friendly policies and enabling foreign direct investment in railways to improve infrastructure for freight and high-speed trains. In a similar vein, the UK government launched a velocity improvement initiative in 2019 that focuses on continuous commodity and flow analysis of freight services in close collaboration with freight operators. Therefore, the steps taken by the government to increase rail freight will increase the demand for freight cars' market growth during the period. Stringent regulation regarding import and export is one of the major challenges to the growth of the freight car market. Rail freight transportation would decrease as a result of strict rules over trade, which would decrease the demand for freight cars. In 2020, the Customs department of India imposed stringent rules on the free-trade agreement import of white goods to check undue dumping of these commodities under FTAs from non-producing countries. It aims to check the misuse of relaxation under free-trade agreements. India is also eager to implement new planned regulations to boost domestic manufacturing by reducing imports, with the goal of reducing the amount of lower-quality imports from China. Therefore, stringent rules posed by the government over trade are expected to hinder the freight car market growth during the forecast period. Freight cars are now enabled with GPS tracking and this is likely to be an emerging trend in the freight car market. The efficiency of freight car transport will be augmented with the use of advanced GPS technologies. Rail operators' incorporation of GPS technologies into freight cars aids in managing the transport process, scheduling freight cars, maintaining a consistent delivery process, and reducing freight car theft. For instance, in 2019, Indian Railways began real-time monitoring of over 700 trains (passenger and freight) using the Control Office Application (COA) system. The COA was designed by ISRO after collaborating with the Indian Railways to monitor the movement of freight cars even between two stations with GPS. Therefore, the demand for freight cars is expected to be increased with the incorporation of certain criteria such as real-time data and on-time deliveries. In July 2019, The Greenbrier Companies, Inc., a leading international supplier of equipment and services to the freight rail transportation markets, acquired the manufacturing business of American Railcar Industries (ARI) from ITE Management for an undisclosed amount. ITE Management is an investment firm that operates industrial and transportation assets and companies. The acquisition will strengthen Greenbrier’s position in product offerings in tank cars and covered hoppers and expand its customer base. The acquisition will also extend Greenbrier's reputation for design leadership and quality in the North American freight car market. Major players in the freight cars market are CN Railway, DB Schenker, Union Pacific, Kansas City Southern, CSX Corporation, Norfolk Southern Corporation, Housatonic Railroad Company, and Linfox Pty Ltd. Asia Pacific was the largest region in the freight cars market in 2021. North America was the second largest region in the freight cars market. The regions covered in the freight cars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the freight cars market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global freight cars market is segmented - 1) By Type: Intermodals, Tank Wagons, Freight Cars 2) By Application: Coal, Petroleum And Chemicals, Metals And Minerals, Automobiles, Agricultural Products, Other Applications 3) By End-Use Industries: Agriculture, Construction, Oil & Gas, Chemical, Medical & Pharmaceuticals, Food & Beverages, Government & Defense, Automotive & Transportation, Marine

The tank waggon market consists of sales of tank wagons, rail freight transportation services, and related goods by entities (organizations, sole traders, and partnerships) that provide the transportation of freight in a tank wagon. Tank Wagons are a type of railroad car or rolling stock that is designed to transport liquid and gaseous commodities on the rail transport system. Only goods and services traded between entities or sold to end consumers are included. The main types of tank waggons covered in this report are pressurised railroad tank cars and general-purpose or non-pressurized tank cars. The pressurised railroad tank car was designed to carry chemicals and petroleum products efficiently and safely. It is also segmented by protection type into insulated and non-insulated and by application into crude oil, ethanol, liquefied gases, biofuels, milk, chemicals, and others. The tank waggons market research report is one of a series of new reports from The Business Research Company that provides tank waggons market statistics, including tank waggons industry global market size, regional shares, competitors with a tank waggons market share, detailed tank waggons market segments, market trends and opportunities, and any further data you may need to thrive in the tank waggons industry. This tank waggon market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global tank wagons market grew from $63.4 billion in 2021 to $69.74 billion in 2022 at a compound annual growth rate (CAGR) of 10.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The tank wagons market is expected to grow to $83.45 billion in 2016 at a CAGR of 4.6%. Increased demand for liquids and gases as a raw material in the residential and petrochemical sectors that use railways as one of the modes of transportation is contributing to the growth of the tank waggon market. This upswing in need is due to the lockdown and ban on travelling which have happened worldwide. For instance, according to the Facts Global Energy (FGE) data, India is expected to buy 15.8 million tonnes of LPG from abroad in the 2020 year, which is 9% more than in 2019. Furthermore, FGE has also estimated that the Asia-Pacific region will buy 67–69.5 million tonnes of gas from abroad in 2020, which will be 1–3% more than in 2019. An increase in the need for PPE kits and cooking at home is causing a rise in demand for liquid and gas, which is fulfilled with the help of tank waggons to carry tonnes of these materials, thus driving the tank waggon market. The increased rate of accidents due to the high speed of railways is expected to limit the growth of the tank waggon market. These high accident rates can hamper the service provided by the rail tank waggons and also result in a loss of economy and fuel. For instance, in June 2020, in Andhra Pradesh, a state in India, tank waggons carrying oil got derailed due to high speed and caught fire, which caused a huge combustion of the oil. In February 2020, in Canada, a train with 19 waggons carrying dangerous goods got derailed due to high speed, causing an explosive fire. This led to the imposition of trains carrying hazardous goods. Thus, a rise in accidents is hampering the revenues generated for the tank waggon market. The launch of the internet of things (IoT) to fast-track the safety and compliance of rail tanks has created immense demand in the tank waggon market. The Internet of Things (IoT) empowers rail administrators to use internet-connected communication devices installed across infrastructure and rolling stock to increase safety. Moreover, there are many apps, such as the safety lock app, terminal automation app, and anti-roll-away apps, rolled out by TCS to digitalize the tank wagons. In July 2019, Greenbrier, a US-based railroad transportation company, announced the acquisition of American Railcar Industries' manufacturing business for $430 million. The acquisition is expected to enable Greenbrier to provide customers not only with direct sales or leasing options but also with after-market services and to help customers seeking tank cars and covered hoppers. American Railcar Industries is a US-based company that manufactures railroad rolling stock. Major players in the tank wagons market are American Railcar Industries Inc., GATX, National Steel Car, The Greenbrier Companies, Trinity Industries Inc., Vertex Railcar, Union tank car company, American-Rails, Chongqing ChagnZheng Heavy Industry, TrinityRail Products, Caterpillar, Japan Oil Transportation., Kelso Technologies Inc, OmBesco Limited, Procor Limited, and VTG Aktiengesellschaft. Asia Pacific was the largest region in the tank wagons market in 2021. North America was the second largest region in the tank wagons market. The regions covered in the tank wagons market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the tank wagons market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global tank wagons market is segmented - 1) By Tank Pressure Type: Pressurized Railraod tank car, General Purpose or Non-Pressurized tank car 2) By Protection Type: Insulated, Non-insulated 3) By Application: Crude Oil, Ethanol, Liquefied Gases, Bio Fuels, Milk, Chemicals, Other Applications