global freight car market
DUBLIN, Nov. 17, 2022 (GLOBE NEWSWIRE) — The “Global Freight Vehicles Market Report 2022: By Application, By End-Use Industries” The report has been added to ResearchAndMarkets.com Show.
This report provides strategists, marketers, and senior management with the critical information they need to assess the global Cargo Vehicle market as it emerges from the COVID-19 lockdown.
The global freight vehicle market is expected to grow from USD 137.85 billion in 2021 to USD 143.51 billion in 2022 at a compound annual growth rate (CAGR) of 4.1%. The market is expected to grow to $178.57 billion in 2026 at a compound annual growth rate (CAGR) of 5.6%.
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Major players in the freight car market are CN Railway, DB Schenker, Union Pacific, Kansas City Southern, CSX Corporation, Norfolk Southern Corporation, Housatonic Railroad Company, Linfox Pty Ltd.
The freight car market consists of the sales of freight cars, rail transportation services, and related goods by entities (organizations, sole traders, partnerships) that provide transportation of freight in a freight car. Freight cars are a type of railroad car or railcar designed to carry goods on a rail transit system. Only goods and services that are traded between entities or sold to end consumers are included.
Major types of Freight Vehicles market covered in this report are multimodal vans, tank vans, and freight vans. A tank vehicle is defined as a vehicle designed to transport gases or liquids. It is also segmented by application in coal, oil, chemicals, metals and minerals, automobiles, agricultural products, and other applications. It is also segmented by end-use industries in agriculture; Construction, Oil & Gas, Chemical, Medical, Pharmaceutical, Food & Beverage, Government & Defense, Automotive, Transportation & Marine.
Asia Pacific was the largest region in the freight vehicle market in 2021. North America was the second largest region in the freight vehicle market. The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa.
Government initiatives are expected to boost the growth of the freight vehicle market. For example, in 2019, the Indian government took initiatives to make rail freight more attractive through long-term tariff contracts with major customers, providing incentives for container traffic, tariff rationalization initiatives, and launching schemes such as the General Purpose Vehicle Investment Scheme (GPWIS), and the Liberated Trolley Investment Planner (LWIS), Special Freight Train Operator (SFTO), Car Freight Train Operator (AFTO), and other applications.
Investments in railway infrastructure have also been considered by the Government of India by establishing investor-friendly policies and enabling foreign direct investment in railways to improve freight infrastructure and high-speed trains. A similar example too, in 2019, the UK government launched the Speed Improvement Initiative which continuously analyzes commodity- and flow-focused freight services in close collaboration with freight operators. Therefore, the steps taken by the government to increase rail freight will increase the demand for freight car market growth during this period.
One of the major challenges facing the growth of the freight vehicle market is the strict regulation regarding import and export. Rail freight transportation will decrease as a result of the strict rules imposed on trade which will reduce the demand for freight cars. In 2020, the Indian Ministry of Customs imposed strict FTA rules for importing white goods to check for unjustified dumping of these goods under FTAs from non-producing countries.
It aims to check the abuse of relaxation under free trade agreements. India is also keen to implement planned new regulations to boost domestic manufacturing by reducing imports and the move is primarily aimed at reducing the amount of low-quality imports from China. Therefore, the strict rules imposed by the government on trade are expected to hinder the growth of the freight vehicle market during the forecast period.
Freight cars are now enabled with GPS tracking and this is likely to be an emerging trend in the freight car market. Freight vehicle transportation efficiency will be increased by using advanced GPS technologies. Integration of GPS technologies into freight cars by rail operators helps in managing the transportation process, scheduling freight cars, maintaining a consistent delivery process, and reducing freight theft from freight cars.
The countries covered in the freight cars market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Main topics covered:
1. Executive summary
2. Characteristics of the auto freight market
3. Car freight market trends and strategies
4. The impact of COVID-19 on freight cars
5. Freight vehicle market size and growth
5.1 Global Freight Vehicle Historic Market, 2016-2021, Billion Dollars
5.1.1. market drivers
5.1.2. market restrictions
5.2 Global Freight Vehicle Market Forecast, 2021-2026F, 2031F, Billion Dollars
5.2.1. market drivers
5.2.2. market restrictions
6. Segmentation of the freight vehicle market
6.1 Global Freight Vehicles Market, Segmentation by Type, Date, Forecast, 2016-2021, 2021-2026F, 2031F, Billion Dollars
6.2 Global Freight Vehicles Market, Segmentation by Application, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, Billion Dollars
Petroleum and chemicals
Minerals and minerals
6.3 Global Freight Vehicle Market, Segmentation by End-Use Industries, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, Billion Dollars
7. Regional and country freight vehicle market analysis
7.1 Global Freight Vehicles Market, Segmented by Region, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, Billion Dollars
7.2 Global Freight Vehicles Market, Segmented by Country, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, Billion Dollars
For more information on this report visit https://www.researchandmarkets.com/r/3f0gu
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