The global rail logistics market to grow at a CAGR of 3.58% during the period 2017-2021.
Global Rail Logistics Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the rail freight services provided by the vendors across the globe.
The latest trend gaining momentum in the market is increased government funding and public-private partnership. Increased government funding and public-private partnerships have resulted in many countries to restructure and develop rail freight routes, to increase the modal share of rail freight.
According to the report, one of the major drivers for this market is reduction in traffic and road congestion in highways. Though road freight accounts for 55% of the freight transportation market in the majority of the countries, an increase in traffic congestion in highways is propelling shippers to transport goods through rail, as it takes less time to carry more amount of goods in a single trip. Rail freight reduces the number of trucks on the road, which leads to lesser congestion and lower carbon emissions by almost 30%. On an average, rail freight can replace 45-50 heavy goods vehicles on the road.
Further, the report states that one of the major factors hindering the growth of this market is lack of flexibility in delivery timings. Flexibility in delivery timings is the biggest challenge faced by the rail freight transportation. One the reasons for growth in road transportation over rail freight transportation is the flexibility in timings and door-to-door delivery services that it offers. Road transportation delivers within 24 hours and offers on door deliveries.
- Increased efficiency of rail freight over truck freight
- Reduction in traffic and road congestion in highways
- Growth of rail intermodals
- Lack of flexibility in delivery timings
- Inconsistent track access charges
- Incompatibility in transportation of temperature-sensitive products and toxic gases
- Integration of Internet of Things in rail logistics
- Increased government funding and public-private Partnership
- Integration of intelligent systems in freight cars
- CN Railway
- DB Schenker
- SBB Cargo
- Union Pacific
Other prominent vendors
- CTL Logistics
- Genesee & Wyoming
- GeoMetrix Rail Logistics
- Kuehne Nagel
- Ozark Rail Logistics
- RSI Logistics
- Tschudi Logistics
- VTG Rail Logistics
For more information about this report visit http://www.researchandmarkets.com/research/swsz68/global_rail
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SOURCE Research and Markets