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The global railroad market size reached US$ 291.6 Billion in 2021. By 2027, it will reach a value of US$ 378.87 Billion, CAGR of 4.30% (2022-2027).
SHERIDAN, WYOMING, USA, September 16, 2022 /EINPresswire.com/ -- The latest research study “Railroad Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global railroad market size reached US$ 291.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 378.87 Billion by 2027 exhibiting a growth rate (CAGR) of 4.30% during 2022-2027.
Railroad represents a set of tracks made of steel that are laid on a roadbed. It is a medium of land-based mass transportation catering to the movement of passengers and commodities over short and long-distance routes. Railroad comprises of vehicles with flange wheels guided by parallel tracks that restrict movement and remove the requirement for steering. These vehicles are either self-propelled or utilize a locomotive for propulsion. Railroads are extensively used for traveling and transporting bulk commodities, such as coal, petroleum, chemicals, construction materials, agricultural produce, consumer goods, automobiles, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Railroad Market Trends and Drivers:
The increasing industrialization levels coupled with significant growth in the tourism industry are among the key factors stimulating the railroad market. Apart from this, the rising number of local and cross-border movements of travelers and commodities is also propelling the market growth.
Besides this, the introduction of advanced driver assistance systems (ADAS) in railroads that provide automatic warning, supervision, control arrangements, etc., to improve operational management and optimize energy usage is further fueling the global market. Moreover, the growing adoption of railroads for transporting bulk commodities to remote areas, owing to their robust connectivity, is acting as another significant growth-inducing factor.
Furthermore, the rising investments by several government bodies for the expansion of the railroad networks and the emerging trend of railcar leasing are expected to positively influence the railroad market over the forecasted years.
The report has been segmented the market into following categories:
Breakup by Type: • Rail Freight • Passenger Rail
Breakup by Distance: • Long Distance • Short Distance
Breakup by End Use: • Mining • Construction • Agriculture • Others
By Geography: • North America (United States, Canada) • Europe (Germany, France, United Kingdom, Italy, Spain, Others) • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others) • Latin America (Brazil, Mexico, Others) • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other
List of Major Key Players:
The major players in the market are • Bnsf Railway Company (Berkshire Hathaway Inc.) • Canadian National Railway Co. • Canadian Pacific Railway Limited • CSX Corporation • CTL Logistics Sp. z o.o • DB Cargo Aktiengesellschaft (Deutsche Bahn AG) • Japan Freight Railway Company • Norfolk Southern Corporation • PKP Cargo International (PKP Cargo) • SBB Cargo (Swiss Federal Railways) • SNCF Group • Union Pacific Corporation.
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Key highlights of the report:
• Market Performance (2016-2021) • Market Outlook (2022-2027) • Porter’s Five Forces Analysis • Market Drivers and Success Factors • SWOT Analysis • Value Chain • Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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