According to the latest market study released by Technavio, the global rail logistics marketis expected to grow at a CAGR of nearly 4% during the forecast period.
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Technavio has published a new report on the global rail logistics market from 2017-2021. (Graphic: Business Wire)
This research report titled 'Global Rail Logistics Market 2017-2021' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The important market drivers responsible for the growth of the global rail logistics market are an increased efficiency of rail freight over truck freight, reduction in traffic and road congestion in highways, and growth of rail intermodals. The global rail logistics market is forecast to be valued at USD 210.13 billion by 2021.
| On an average, rail freight transportation is 4.5 to 6 times more fuel efficient that transport through trucks. Rail freight fuel efficiency varies between 150 ton-mile-per-gallon to 520 ton-mile-per-gallon, whereas truck freight fuel varies between 70 ton-mile-per-gallon to 140 ton-mile-per-gallon. |
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Based on mode of transportation, the report categorizes the global rail logistics market into the following segments:
- Intermodals
- Tank wagons
- Freight cars
Intermodals
"Intermodal freight transportation is forecast to be the segment that will showcase the highest growth rate, with a CAGR of almost 5% through the forecast period. This growth will be driven by the cost-efficient solutions to transport of complex commodities provided by the intermodals. The intermodal segment accounted for a majority 41.72% of the global market," says Sharan Raj, one of the lead analysts at Technavio for logistics research.
The high demand for intermodal transportation has brought in many investments from rail operators and manufacturers for the development and integration of intermodal technologies for better efficiency. Canadian National Railways announced an investment of USD 250 million towards the development of an intermodal and logistics hub in Milton, Ontario, during the forecast period. Additionally, CSX, a transportation company in the US offering logistics solutions, has developed tracking systems that help shippers track their intermodal containers from the source to the destination point.
Tank wagons
Tank wagons are cylindrical containers that are used for storage and transportation of liquids, liquefied gases, and oil. The growth of this segment can mainly be attributed to the growth of the oil and gas industry. In 2015, the US alone produced almost 9.4 billion barrels of oil per day. The companies involved in this industry rely completely on railroads for the transportation of these commodities to the refineries. Rail freight transportation market in the US by oil and gas industry accounted for 32.16% volume share in 2015, and is expected to account for 33.15% in 2016.
APAC accounted for 10.11% of the world's oil production in 2015, with China in the lead, producing 4.22 million barrels of oil and related products per day. The region totally accounted for the production of 15.14 million barrels of oil per day. The high volume of these products directly translates to a healthy demand for tank wagons, thus driving the market growth.
Freight cars
The freight car segment of the global rail logistics market is expected to maintain a steady position in the market through the forecast period. Freight car transportation includes flat cars, open cars, box cars, and sliding wall freight cars. Freight cars are meant to carry goods up to 100 tons and are primarily used in the transportation of coal, logs, and vehicle equipment.
"Rail freight operators across the globe are investing in redesigning freight cars to increase the capacity to accommodate an increased volume of goods in a single trip, and to increase the efficiency of each container. In the US, few manufacturers have redesigned rail cars to increase the weight capacity of the freight car from 2,200 tons to almost 3,600 tons. Such innovations will bring in demand for this segment of the global rail logistics market," says Sharan.
The top vendors highlighted by Technavio's research analysts in this report are:
- CN Railway
- DB Schenker
- SBB Cargo
- Union Pacific
Browse Related Reports:
- Rail Freight Transportation Market in Europe 2016-2020
- Global Air Cargo Market 2016-2020
- Domestic Freight Market in the US 2015-2019
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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