Global Railroad Market is valued at approximately USD 281.24 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.6% over the forecast period 2023-2030. Railroads play a crucial role in transporting passengers and freight across various regions and countries. They offer several advantages, such as energy efficiency, large cargo capacity, and reduced road congestion. Railroads are a primary mode of transporting bulk goods and commodities over long distances. They are particularly well-suited for transporting heavy and bulk materials such as coal, minerals, and agricultural products. Many regions have established passenger rail services for both commuter and long-distance travel. High-speed rail systems, such as the Shinkansen in Japan and the European rail networks, offer rapid travel between cities. Factors driving the railroad industry include increasing global trade, the need for more sustainable transportation options, and the growing demand for efficient freight movement.
Governments and private companies invest in railroad infrastructure to improve efficiency, safety, and capacity. Modernizing tracks, upgrading signaling systems, and implementing advanced technologies are part of these efforts. For Instance: In response to the sluggish passenger and freight demand, France’s SNCF, the national state-owned railway corporation, scheduled adjustments to its operations for April 2020. TGV and Intercités services were limited to around 10% of normal levels, while Transilien and TER services, as well as Keolis-run transport networks, had their capacity lowered to an average of 15% to 20%. SNCF’s rail freight operation was running at 65% of its usual capacity. Also, in 2022, China announced plans to invest USD 1.7 trillion in railways over the next decade. This investment is expected to help to support the country’s growing economy and urbanization. In the same year, India also announced plans to invest USD 1.4 trillion in railways over the next five years. This investment is expected to help to connect the country’s rural and urban areas and boost economic growth. Railroads have been incorporating technology to enhance safety, efficiency, and customer experience. This includes improved train control systems, predictive maintenance using sensors and data analytics, and automation in rail operations. For Instance: In 2022, the Chinese government announced plans to invest USD 100 billion in the development of advanced rail technologies, such as maglev trains and high-speed rail. In the same year, the United States government also announced plans to invest USD 1 billion in the development of advanced rail technologies, such as self-driving trains and intelligent signaling systems. However, Costly Infrastructure maintenance, competition from other transportation modes (such as trucks and airplanes) and regulatory hurdles, stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Railroad Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. In 2022, North America accounted for the biggest market share, and it is anticipated that it would continue to dominate over the projected period.The Association of American Railroads claims that the United States has a world-class freight rail network that is a cornerstone of the economy of the nation. The nation’s growing reliance on goods rail can be ascribed to continued investments made in the advancement of equipment, technology, and infrastructure. The key factors influencing passenger train services in the region include increasing consumer demand, better passenger safety measures, technical advancements, and operational improvements.. Also, owing to growing government investments in new railway construction and the region’s heavy reliance on rail transportation, Asia Pacific is anticipated to have the fastest CAGR between 2023 and 2030.
Major market player included in this report are:
Central Japan Railway Company
Union Pacific Railroad
OAO RZD (Russian Railways)
JSC Russian Railways
Recent Developments in the Market:
Ø In March 2021, Canadian Pacific Railway and Kansas City Southern Railway, two out of the seven Class I railroads in the United States, have revealed a merger agreement. Under this proposed arrangement, Canadian Pacific intends to purchase Kansas City Southern through a combination of stock and cash transactions.
Ø In July 2020, The EU approved Alstom, a French high-speed train business, to buy Bombardier’s rail division. Alstom was required to agree to certain access guarantees and turn over Bombardier’s assets that were a part of Hitachi’s joint high-speed platform.
Global Railroad Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered –Type, End Use, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Middle East & Africa
Rest of Middle East & Africa