Increasing world trade and increasing industrialization has introduces tremendous opportunities for the logistics as well as transportation companies. In present scenario, rail transport of commodities accounts for nearly 80 percent of all railroad revenue. The railroad transportation services are usually provided for transportation of the commodities including, coal, chemicals and crushed rocks, containers of consumers good, and automobiles. This industry is expected to be highly capital-intensive as the average annual revenue per worker for a typical Class I railroad is estimated to be more than $200,000. The rail road transportation is being adopted by many industries and companies because of its benefits such as it is efficient and economic. Moreover, railroad transportation can be considerably faster that road transportation in certain case. Just only drawback of the railroad transportation is that the services cannot be provided from the initial source to final destination.
The Railroad Transportation market is expected to witness substantial growth during the forecast period owing to the increasing demand of the urgent but economic delivery of commodities, by the industries. Moreover, the continuous surge of the bulk commodities transportation, transportation of coal, automobiles and other heavy commodities is witnessing significant growth of the railroad transportation market. Additionally, with adoption of various trends in transportation industry and growth of the logistics industry in developing countries the rail road transportation market is expected to have new growth opportunities during the forecast period.
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Railroad Transportation Market Dynamics:
Drivers of the railroad transportation market
Growing Business Relations between Countries is Driving Railroad Transportation Markets. Moreover, the high cost associated with the road, air and ocean freight is increasing the use of the rail road transportation across the world. Other factors responsible for the growth of the railroad transportation market include, the growth of the mining, automobile, construction, and other industries.
Opportunities of the railroad transportation market
Application of the modern technologies in the rail transportation is not only making the railroad transportation as the safer but also a more cost-effective method of transport depending on the nature of the cargo. Moreover the technological advancement pertaining the storage, powers source and transportation timing is expected to register new growth opportunities for the railroad transportation market during the forecast period.
Trends of the railroad transportation market:
The trend associated with the logistics industry directly affects the railroad transportation market. The increasing adoption of the railcar leasing is becoming one of the significant trend globally which is expected to positively influence the growth of the railroad transportation market.
Restraints for the railroad transportation market:
As railroad transportation cannot be used for transportation of the goods where land is not the mode of transportation, the rail road transportation is not used for goods transportation between two different continents. Moreover, in certain cases air freight becomes the fastest way for transportation of the commodities. Also, some of the consumer goods companies and industries are less involved in transportation of goods through rail transportation as transportation of less amount goods is sometimes not economic.
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Railroad Transportation: Segmentation
Railroad Transportation market can be segmented as follows:
Segmentation of the Railroad Transportation market on the basis of transporting item types:
- Commodities
- Automobiles
- Containers of consumer goods
- Passengers
- Others
Commodities include, chemicals, coal, crushed rocks and others.
Segmentation of Railroad Transportation market on the basis of end-use industry:
- Mining
- Construction
- Agriculture
- Construction
- Others
Railroad Transportation Market: Key Players
Some of the key players of the Railroad Transportation market are Union Pacific, BNSF Railway, Norfolk Southern, Amtrak, ATS, INC., Hallcon, CSX Corporation, R. J. Corman Railroad Group, Patriot Rail Company LLC., and Professional Transportation, Inc. These players are expected to positively influence growth of the railroad transportation market during the forecast period.
Controlling maintenance expenses and efficient operations are key factors on which the profitability of an individual company is depended. Companies with large business and network have advantages in owning substantial miles of railroad track connecting major cities. Small companies compete by transporting a wide variety of commodities and servicing local routes.
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Railroad Transportation Market: Regional Overview
The Europe Railroad Transportation market is expected to witness substantial growth due to the presence of a large number of vendors and logistics companies that provide Railroad Transportation of various commodities channels in the region. The North America Railroad Transportation market is expected to witness growth because of the availability of advanced technologies pertaining to the railroad transportation. According to the Association of American Railroads (AAR), railroads account for 40 percent of total US freight ton-miles, which is estimated to be more than any other mode of transport, but generate less than 10 percent of all intercity freight revenues. The Asia Pacific Railroad Transportation market is expected to witness moderate growth during the forecast period due to emerging logistics industry. The players of the railroad transportation are expected to have high penetration in the Latin America region due to increasing economy of the region.
The report on railroad transport market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
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