Passenger Rail Transport Market Definition

Intermodals Market Definition

Long-distance general freight trucking is a mode of transportation that uses motor vehicles such as trucks to transport a variety of commodities, which are generally palletized and transported in a container or van trailer for carriage of domestic and commercial goods, typically between metropolitan areas and may cross country borders. The main services in the long-distance general freight trucking market are general long-distance truckload carriers, general long-distance less-than-truckload carriers, and other transportation services. The general long-distance truckload carriers provide long-distance general freight trucking between metropolitan areas. The market is segmented by activities into general long-distance truckload transit, general long-distance less-than-truckload transit, logistics planning, container trucking long-distance, and motor freight trucking long-distance. It is also segmented by size into heavy trucks, medium trucks, and light trucks and by application into oil and gas, industrial and manufacturing, energy and mining, food and beverages, pharmaceuticals and healthcare, and others. The long-distance general freight trucking market research report is one of a series of new reports from The Business Research Company that provides long-distance general freight trucking market statistics, including long-distance general freight trucking industry global market size, regional shares, competitors with a long-distance general freight trucking market share, detailed long-distance general freight trucking market segments, market trends and opportunities, and any further data you may need to thrive in the long-distance general freight trucking industry. This long-distance general freight trucking 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 long-distance general freight trucking market size will grow from $732.40 billion in 2022 to $809.43 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global long-distance general freight trucking market size is expected to grow to $1,170.32 billion in 2027 at a CAGR of 9.7%. An increase in the manufacturing output of different industries is expected to drive the growth of the long-distance general freight trucking market. More manufacturing output calls for more trucking to carry the freight from one place to another. In March 2020, Tesla planned to increase electric vehicle production capacity in China. This production capacity will be 250,000 cars a year. To transport these manufactured cars, there will be a need for freight trucking. In June 2020, a Tesla semi, which is used for long haul trucking, was transporting the cars. Thus, the increased manufacturing output, which results in increased trucking for transportation of the finished products, is driving the growth of the long-distance general freight trucking market. Travel restrictions and lockdowns during COVID-19 are limiting the growth of the long-distance general freight trucking market. Coronavirus lockdown limitations have restricted freight movement, raising operating expenses and increasing anxiety among drivers and crew members. According to an analysis by Geotab Inc., a web analytics company, there was a significant drop in commercial transport activity between March 16 and May 8, 2020 in the United States, when compared with baseline data from February 2020. The commercial transport activity of the United States is operating at an average of 83% of total commercial transport activity. This decrease in activity is felt more seriously in federal regions such as New York and New Jersey, with working levels at 66% of normal activity. Thus, these variables, such as travel restrictions and lockdown, are affecting the development of the long-distance general freight trucking market. Electric trucks are being increasingly used by the long-distance general freight trucking market for transportation, which is expected to propel the market's growth. Numerous retailers and transporters are putting in huge orders of electric trucks for beverage routes and last-mile delivery. In September 2020, Amazon bought 10 electric trucks from Lion Electric, and they ordered 100,000 electric delivery vans from startupRivian with deliveries from 2021 to 2024. In June 2020, Mark-It Express Logistics, a US-based intermodal trucking and freight brokerage company, acquired the operating assets of Sava Transportation for an undisclosed amount. The acquisition will help Mark-It Express Logistics offer flexible and robust solutions to their customers and will add 20 more trucks to their fleet. This acquisition will also diversify its customer base and increase its market share. Sava Transportation is a US-based company specialising in intermodal traffic. Major players in the long-distance general freight trucking market are XPO Logistics Inc., YRC Worldwide Inc., FedEx Corporation, JB Hunt Transport Services Inc., Knight-Swift Transportation Holdings Inc., Old Dominion Freight Line, Progressive Carriers, Joe's Logistics, Universal Truckload, and Reynold Transportation. Asia-Pacific was the largest region in the long-distance general freight trucking market in 2022. North America was the second largest region in the global long-distance general freight trucking market. The regions covered in the global long-distance general freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the long-distance general freight trucking market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The long-distance general freight trucking market includes revenues earned by entities by providing transportation services for local pickup of goods to deliver them to the customer. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global long-distance general freight trucking market is segmented - 1) By Services: Truckload Carriers, Less-than-truckload Carriers, Other Transportation Services 2) By Activities: General long-distance truckload transit, General long-distance less-than-truckload transit, Logistics planning, Container trucking long-distance, Motor freight trucking long-distance 3) By Application: Oil & Gas, Industrial & Manufacturing, Energy & Mining, Food & Beverages, Pharmaceuticals & Healthcare, Other Applications 4) By Size: Heavy Trucks, Medium Trucks, Light Trucks

Inland water freight transportation refers to a mode of transportation over stretches of water, not part of the sea, over which crafts with a carrying capacity of at least 50 tonnes can navigate when normally loaded to provide inland water transportation of passengers and cargo on lakes, rivers, or intracoastal waterways. The main types of transportation in the inland water freight transport market are liquid bulk transportation and dry bulk transportation. Dry bulk transportation involves the shipment of dry raw materials in large, unpackaged parcels. It is also segmented by fuel into heavy fuel oil, diesel, biofuel, and others; and by vessel type into cargo ships, container ships, tankers, and others. The inland water freight transport market research report is one of a series of new reports from The Business Research Company that provides inland water freight transport market statistics, including inland water freight transport industry global market size, regional shares, competitors with an inland water freight transport market share, detailed inland water freight transport market segments, market trends and opportunities, and any further data you may need to thrive in the inland water freight transport industry. This inland waterway freight 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 freight transport market size will grow from $16.99 billion in 2022 to $17.82 billion in 2023 at a compound annual growth rate (CAGR) of 4.9%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global inland water freight transport market size is expected to grow to $20.70 billion in 2027 at a CAGR of 3.8%. The need for economical transportation for cargo has been the main driving factor for the inland water freight transport market. Water freight is usually considered inexpensive and economical for heavier cargo because of the difference in fare charging in comparison to other modes of transport. On water transport, the rate is often calculated by the cubic metre of the standard container. On the other hand, in air transport, the chargeable weight is calculated by a combination of size and weight of cargo. According to the U.S. Department of Transportation, goods worth approximately $736 billion were shipped through ocean vessels in 2000, and by 2020, international trade is expected to double within the US, with the majority of the trade expected to move via ocean shipping. According to the World Bank, which is the major financer of India's National Waterway Project, the cost of transporting one tonne of freight over 100 km through roadways is around $3.07; through railways it is around $1.93; and through waterways it is around $1.62; and this makes waterways the economical way of transporting cargo in India. Volatility in the crude oil price is impacting water transport, and therefore it is expected to restrain the market for inland water freight transport during the period. According to the United Nations Conference on Trade and Development, fuel oil is a major source powering the global economy and supplies 95% of the energy used in world transport. Water transport carries over 80% of global merchandise trade by volume and is highly dependent on oil. As the cost of oil rises, the carriers are forced to raise prices or bear losses. Usually, the receiver is charged more to make up for the added costs. Higher fuel costs cause product inflation and affect every aspect of product transportation. When fuel prices fall, the consumer receives goods at a low price, and logistics companies use the saved money to improve their operations. Fuel price changes have a direct impact on operational costs. For instance, according to US energy information administration data, crude oil prices rose during the year 2021, with Brent crude oil spot prices averaging $71/b for the year compared with $42/b in 2020, thus increasing the operating costs of water transport and hindering the inland water freight transport market's growth. The development of information technology platforms for better vessel management is an emerging trend in the inland water freight transport market. For instance, in April 2021, according to research published in Springer, a Germany based publishing company, about 80% of global trade by volume was carried by waterways, with a fleet of 95402 ships in 2019. Information technology on ships is used for fuel optimization and monitoring vessel performance, recognising scanned copies and photos of documents, customer relationship management, warehouse management, and Que management systems. A few significant online apps and portals used for operations management on ships are BunkerEx, an online portal for ship owners helping in finding optimal bunker ports; Nautilus Labs, which takes data from sensors, manual reports, and market information to get a unified fleet intelligence picture; and Radiantfleet, with its software, helps in digitising workflows, cutting costs, and improving budgeting. Therefore, the combination of digital and physical connectivity helps carriers and seaports integrate their processes with shippers and track devices for containers and cargo. In April 2020, Kirby Corporation, a USA-based waterway transport company, acquired Savage Inland Marin’s inland barge fleet for $278 million. With this acquisition, Kirby Corporation will be able to provide better service to customers’ fleeting needs with young and well-maintained vessels. Savage Inland Marine is a USA-based company operating in inland water freight transport. Major players in the inland water freight transport market are American Commercial Barge Line, Ingram Barge, Kirby Inland Marine, American River Transportation, CMA CGM Group, McKeil Marine Limited, AP Moller - Maersk A/S, Rhenus Group, and Imperial Logistics International. Western Europe was the largest region in the inland water freight transport market in 2022. Asia-Pacific was the second largest region in the global inland water freight transport market. The regions covered in the global inland water freight 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 freight transport market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The inland freight water transport market includes revenues earned by entities by providing navigation as well as drainage, irrigation, water supply, and hydroelectric power generation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global inland water freight transport market is segmented - 1) By Type Of Transportation: Liquid Bulk Transportation, Dry Bulk Transportation 2) By Fuel: Heavy Fuel Oil, Diesel, Biofuel, Other Fuels 3) By Vessel Type: Cargo Ships, Container Ships, Tankers, Other Vessel Types

Refrigerated goods trucking refers to a type of shipping that uses temperature-controlled trucks with special equipment in which the cargoes are kept at a controlled temperature throughout the shipping process by an integrated refrigeration system in the transport trucks to provide over-the-road transportation of refrigerated goods. The main vehicle types in the refrigerated goods trucking market are light commercial vehicles, medium-heavy commercial vehicles, and heavy commercial vehicles. A light commercial vehicle is any vehicle with a gross vehicle weight exceeding 7,500 kilogrammes that is used to courier and parcel fruits, vegetables, white goods, beverages, and many more. It is also segmented by temperature into single temperature and multi-temperature and by application into food products, poultry, meat, and seafood, dairy and beverages, bakery and confectionery, pharmaceuticals, and others. The refrigerated goods trucking market research report is one of a series of new reports from The Business Research Company that provides refrigerated goods trucking market statistics, including refrigerated goods trucking industry global market size, regional shares, competitors with a refrigerated goods trucking market share, detailed refrigerated goods trucking market segments, market trends and opportunities, and any further data you may need to thrive in the refrigerated goods trucking industry. This refrigerated goods 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 refrigerated goods trucking market size will grow from $62.41 billion in 2022 to $68.31 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global refrigerated goods trucking market size is expected to grow to $95.15 billion in 2027 at a CAGR of 8.6%. Increasing demand for perishable foods such as ready-to-eat food items, milk and dairy products, and fruits and vegetables is predicted to contribute to the growth of the refrigerated goods trucking market. The surging demand for frozen food items is propelling suppliers to equip their refrigerated units with multi-temperature systems, computer controls, and thermal liners to keep the food at the required temperature. According to the National Dairy Development Board (NDDB), the demand for milk in the Indian market is expected to reach 180 million tonnes by 2022. Therefore, increasing demand for refrigerated food products is expected to drive the market for refrigerated goods trucking during the forecast period. Lack of infrastructure for cold storage in developing countries is anticipated to limit the growth of the refrigerated goods trucking market over the forecast period. Cold chain management (CCM) is a recently adopted concept in supply chain management. A CCM is a network of cold stores, refrigerators, freezers, refrigerated trucks, and cold boxes that are organised to maintain the temperature of the food items during storage, transportation, and distribution from the factory. Lack of proper cold chain management leads to losses in food and money. According to the Food and Agriculture Organization of the United Nations (FAO)’s report on 16 countries from sub-Saharan Africa showed that cold chains are very poorly developed or inexistent in most subsectors in the region. Moreover, the International Institute of Refrigeration (IIR) estimated that in developed countries, cold storage capacity in urban areas is about 200 litres per capita (where 70% of the population is urban), whereas in developing countries it is about 19 litres per capita (where 50% of the population is urban). Thus, the lack of cold chain infrastructure, especially in developing economies, will result in low demand for refrigerated goods trucking services, which is likely to act as a major restraint for the growth of the market. Major companies operating in this market are continuously investing in introducing new technologies such as cloud computing, IoT solutions, solar-powered systems, and communication technologies such as machine learning, GPS, and 5G for greater accountability, visibility, and performance in refrigerated storage and transport. It is estimated that investments in this field are likely to reach $40 billion by the end of 2020. Moreover, in April 2020, Carrier Transicold launched a solar charging system for transport refrigeration unit batteries that has an innovative design that conveniently fits on top of the unit. The innovative solar charging system is capable of delivering 2.0-amp power delivery by combining ultrapure silicon cells with a high-performance charge controller. In January 2020, Nolan Transportation Group (NTG), a truckload brokerage and third-party logistics services provider, acquired Eagle Transportation LLC., a cold chain logistics specialist, for an undisclosed amount. With the acquisition of Eagle Transportation LLC., Nolan Transportation Group (NTG) plans to expand its nationwide supply chain solutions offerings with enhanced temperature-controlled capabilities and expertise. Eagle Transportation LLC is a Mississippi-based brokerage and transportation company engaged in providing on-time temperature-controlled shipping services. Major players in the refrigerated goods trucking market are Schmitz Cargobull AG, Great Dane LLC., China International Marine Containers, Kogel Trailer GmbH & Co., Hyundai Translead Inc., Wabash National Corporation, KRONE, GRW Tankers, and Trailers. North America was the largest region in the refrigerated goods trucking market in 2022. Western Europe was the second largest region in the global refrigerated goods trucking market. The regions covered in the global refrigerated goods trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the refrigerated goods trucking market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The refrigerated goods trucking market includes revenue generated by entities that provide transportation services for products that must be kept at a specific temperature in order to maintain product shelf life and reduce the possibility of degradation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global refrigerated goods trucking market is segmented - 1) By Vehicle Type: Light Commercial Vehicle, Medium Heavy Commercial Vehicles, Heavy Commercial Vehicles 2) By Temperature: Single Temperature, Multi-Temperature 3) By Application: Food Products, Poultry, Meat, and Seafood, Dairy and Beverages, Bakery And Confectionery, Pharmaceutical, Other Applications

Freight cars are a type of railroad car, rolling stock, or motor vehicle that is designed to transport goods such as cargo, food grains, oil, minerals, and other goods on a rail transport system that is designed to transport large amounts of goods that can be delivered to both long and short distance destinations. 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 size will grow from $167.96 billion in 2022 to $176.19 billion in 2023 at a compound annual growth rate (CAGR) of 4.9%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global freight cars market size is expected to grow to $208.45 billion in 2027 at a CAGR of 4.3%. Government initiatives are expected to boost the freight car market's growth. For instance, in September 2021, the Indian government think tank Niti Aayog, launched the "Shoonya" initiative, which aims to fully electrify fleet vehicles in the urban freight sector within the next two years, as part of a massive effort to accelerate the adoption of electric vehicles and build an ecosystem for them in the nation. 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 June 2022, Indian Railways began real-time monitoring of 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 March 2021, Sojitz Corporation, a Japan-based manufacturing company specializing in the trading of goods and services, acquired Southwest Rail Industries Inc. for an undisclosed amount. Through this acquisition, Sojitz increases its capability to deliver excellent customer service, prompt responses, the capacity to customize leases to meet customers' needs, expand railway services in North America, and decarbonization and sustainability. Southwest Rail Industries Inc. is a US-based transportation company pioneering in providing freight rail coaches and cars to offer services for customers in the United States. 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 2022. North America was the second largest region in the global freight cars market. The regions covered in the global 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, the UK, and the USA. The freight car market consists of sales of covered wagons, cargo beamers, and flat cars. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. 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

Tank wagon refers to a type of railroad car or rolling stock that is used as a tanker designed to transport liquid and gaseous commodities such as hazardous chemicals, oil and gas, crude petroleum oil, and other liquid commodities from fuel stations to rail stations on the rail transport system and on the road transport system to improve safety and reduce the chance of leakage of hazardous liquids. 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 wagon market size will grow from $67.44 billion in 2022 to $70.56 billion in 2023 at a compound annual growth rate (CAGR) of 4.6%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global tank wagon market size is expected to grow to $82.63 billion in 2027 at a CAGR of 4.0%. 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 November 2022, Heniff Transportation Systems, LLC., a US-based liquid chemical and food transportation company, acquired Coal City Cob Company, Inc. for an undisclosed amount. Through this acquisition, Heniff is able to maintain its industry-leading growth in the chemical sector of the tank truck market. In addition to a sizable rail-to-truck bulk transfer yard and tank wash facility at its headquarters in Waxahachie, Texas, Coal City Cob ("CCC") operates with more than 230 drivers and 500 trailers across its countrywide network of terminals. With a focus on maximizing customer, employee, and driver satisfaction, the current Heniff and CCC teams will collaborate closely to ensure a prompt and effective integration between the two networks. Coal City Cob Company, Inc. is a US-based company pioneering in the transportation of liquid and hazardous chemicals for various chemical and pharmaceutical companies. 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 2022. North America was the second largest region in the global tank wagons market. The regions covered in the global 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, the UK, and the USA. The tank wagon market consists of sales of corrosive liquid tanks, highly flammable product tanks, and gasoline tanks. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. 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

Local general freight trucking refers to modes of transportation that use trucks and vans to deliver a wide variety of commodities in local metropolitan areas, generally palletized and transported in a container or van trailer to deliver goods for both domestic and commercial purposes and used for short distances. The main types of local general freight trucking are truckload transportation; less-than-truckload transportation; intermodal transportation; dry-bulk transportation; and others. Intermodal transportation involves the movement of large-sized goods through more modes of transport in containers. The market is segmented by type into heavy trucks, medium trucks, and light trucks and by application into oil and gas, industrial and manufacturing, energy and mining, food and beverages, pharmaceuticals and healthcare, and others. The local general freight trucking market research report is one of a series of new reports from The Business Research Company that provides local general freight trucking market statistics, including local general freight trucking industry global market size, regional shares, competitors with a local general freight trucking market share, detailed local general freight trucking market segments, market trends and opportunities, and any further data you may need to thrive in the local general freight trucking industry. This local general freight trucking 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 local general freight trucking market size will grow from $126.95 billion in 2022 to $129.87 billion in 2023 at a compound annual growth rate (CAGR) of 2.3%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global local general freight trucking market size is expected to grow to $139.47 billion in 2027 at a CAGR of 1.8%. The increase in e-commerce sales is expected to fuel the growth of the local freight trucking market in the forecast period. E-Commerce refers to the purchase and sale of products and services on the Internet. The e-commerce industry relies on trucking to move its items from one location to another, which impacts the trucking industry directly. For instance, according to the US Census Bureau, in 2020, American consumers spent $211.5 billion in the second quarter, an increase of 31.8% from the previous quarter. The increase in e-commerce sales increases the demand to transport the goods and thereby drives the growth of the local freight trucking market. The impact of COVID-19 is expected to limit the growth of the local freight trucking market in the forecast period. The transportation industry faces severe challenges due to the COVID-19 pandemic with disruption in the supply chain. A decrease in demand led to a fall in the supply of raw materials or end-products such as restaurant supplies or live event equipment, among others. According to the Center for Disease Control and Prevention, the trucking industry lost more than 88,000 jobs in April 2020, a 5.8% decline from March. There were 20.5 million job losses across the U.S., placing the nation's total unemployment rate at 14.7%. A recent survey found that nearly half (48%) of carriers registered significantly lowered freight rates across the U.S. Therefore, the prevalence of COVID-19 restrains the growth of the local freight trucking market. The integration of the Internet of Things (IoT) into the transportation sector is a key trend gaining popularity in the local general freight trucking market. The IoT is expected to change the transport sector by gathering data and vital information from market and technology developments related to data analytics and automation of mobility and will provide benefits in fleet management and location tracking. Companies around the world are finding more and more interesting ways to take advantage of the Internet of Things for greater productivity and efficiency. For instance, Kuehne + Nagel, a Swiss-based transport and logistics company, uses IoT for freight monitoring, which helps to warn about temperature, humidity, pressure, shock, and tilt at the parcel level. Major players in the local general freight trucking market are YRC Worldwide Inc., JB Hunt Transport Services Inc., FedEx Corporation, XPO Logistics Inc., Knight-Swift Transportation Holdings Inc., American Rail Center Logistics, DHL, United Parcel Service, Challenger Motor Freight Inc., Creed Freight System, JR Traffic Service, LEASE-SERV TRANSPORTATION, Schneider national, Landstar, and Swift Transportation. Asia-Pacific was the largest region in the local general freight trucking market in 2022. North America was the second largest region in the global local general freight trucking market. The regions covered in the global local general freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the local general freight trucking market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The local general freight trucking market includes revenues earned by entities by providing transportation service for local areas. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global local general freight trucking market is segmented - 1) By Type: Truckload transportation, Less-than-truckload transportation, Intermodal transportation, Dry-bulk transportation, Other Types 2) By Size: Heavy Trucks, Medium Trucks, Light Trucks 3) By Application: Oil & Gas, Industrial & Manufacturing, Energy & Mining, Food & Beverages, Pharmaceuticals & Healthcare, Other Applications