Major companies in the rail freight market include CN Railway; SBB Cargo; SNCF; DB Schenker and Duetsche Bahn AG. The global rail freight market is expected to grow from $247. 39 billion in 2020 to $271.
New York, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Rail Freight Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06025329/?utm_source=GNW
87 billion in 2021 at a compound annual growth rate (CAGR) of 9.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $351 billion in 2025 at a CAGR of 7%.
The rail freight market consists of sales of rail freight transportation services and related goods by entities (organizations, sole traders and partnerships) that provide the carriage of goods from a point of loading, or goods station, to a point of unloading, again a station capable of handling the loading and unloading of the goods carried. These goods are generally heavy in bulk and of low value in relation to their bulk. Examples include coal, building materials, iron and steel. The rail freight market is segmented into intermodals; tank wagons and freight cars.
Asia Pacific was the largest region in the global rail freight market, accounting for 42% of the market in 2020. North America was the second largest region accounting for 26% of the global rail freight market. Middle East was the smallest region in the global rail freight market.
Tracking and tracing systems of rail freight using GPS and GSM helps the transportation organizations to overcome the rail freight transportation drawbacks such as lost and theft. It provides full-fledged security and monetarization of freights and more effective and efficient freight transportation over short distances for smaller loads. ViWaS project equipped with smart telematics systems in Europe has introduced tracking technology in rail freight.
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