4% CAGR in Rail Logistics Market: By Type and Geography | Global Opportunity Analysis and Industry Forecast, 2020-2024 | Technavio

For instance, the Government of India started the Make in India initiative in 2014, which aimed at encouraging companies to manufacture their products in India and increase their investments, thereby transforming India into a global design and manufacturing hub. This will increase the adoption of rail logistics.

Key Rail Logistics Market Report Highlights:

1. Market growth 2019-2024: USD 39.55 billion
2. Growth momentum & CAGR: Accelerate at a CAGR of almost 4%
3. YoY growth (%): 3.40%
4. Performing market contribution: North America at 33%
5. Key consumer countries: US, Russian Federation, China, India and Canada

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Regional Market Analysis

With 33% of the growth originating from North America, this region will record a slower growth rate during 2020-2024.

The highly developed rail freight infrastructure in the region is attributed to the investments made by the private organizations that are responsible for maintaining the infrastructure, as well as investing in new projects. Also, railway expansion projects undertaken by various states will drive market growth during the forecast period.

The two key reasons for the increasing Rail Logistics Market's growth in North America are:

• Norfolk Southern Corp. (Norfolk Southern) is currently working on upgrading the Crescent Corridor, a freight rail network that runs across 13 states and connects New Orleans with New Jersey.
• Moreover, rail transportation service providers are focusing on capacity expansion activities by introducing new, advanced freight cars, which will drive market growth in the region.

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Key Vendors and Vendor Strategies

Brookfield Asset Management Inc., Deutsche Bahn AG, Deutsche Post AG, FedEx Corp., Kuehne + Nagel International AG, Nippon Express Co. Ltd., Rail Cargo Group, Russian Railways, Union Pacific Corp., and United Parcel Service Inc. are few of the key vendors in the Rail Logistics Market.

The market is concentrated, with few companies offering services and catering to the needs of the market's customer base. With rising investments and government initiatives to promote trade between countries, new players are expected to enter the market during the forecast period. 

For instance:

• In May 2019, Deutsche Post AG launched the first regular fully-automated, and intelligent urban drone delivery service in China.
• In November 2018, Kuehne + Nagel International AG introduced a software, myKN, for its customers. myKN will help customers to plan and handle shipments in one place.
• In September 2019, Nippon Express Co. Ltd. launched the NEX Ocean-Solution China Land Bridge, a sea and rail transport service from Japan to Europe using cross-border rail transport between China and Europe via Xiamen in China.

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Key Market Drivers

Our analysts have extensively outlined the information on the key market drivers and their impact on the Rail Logistics Market.

• Increased demand for rail logistics due to rising trade:
• The increase in trade has induced businesses to choose railways as the preferred mode of transportation for their goods because of its higher fuel efficiency, ability to carry high capacity of goods, low railway transport charges compared to road transportation costs and its services being independent of weather conditions. The high usage of railway transportation as the mode of goods transfer benefits businesses as well as the country's economy.
• Global trade not only benefits a company but also improves the economy of a country as these businesses rely on rail transportation to deliver goods and services to customers. Rail freight operators are investing in redesigning freight cars to provide better efficiency to increase the capacity to accommodate an increased volume of goods in a single trip.

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