Growing Investments in the Railway Industry to Create Positive Impact on the Global Railroads Market- QYR Consulting

LOS ANGELES, June 25, 2019 /PRNewswire/ -- Railroads have played a major role in industrial revolution, especially in the US. Their construction brought political, economic, and social changes in the early ages. Even today, railway is responsible for providing affordable transportation to people around the world and creating a large number of job opportunities in emerging countries such as India. Renowned as the "Father of Railways," English civil engineer George Stephenson created the first successful locomotive of the world. It was Great Britain that developed the first railroad. Stephenson's company in England supplied the first engines used in the US. American inventor and engineer, John Stevens is considered to be the "Father of American Railroads."

Job creation and automation are two of the main factors impacting the global railroads market. The Association of American Railroads hosted a Rail and Tech event at America's Capitol Hill in early May 2019. Important entities from the railroad industry participated in the event to push a different policy approach and discuss rail innovation. The fear of automation killing jobs has urged the US House and over 10 US states to pass bills such as the Safe Freight Act of 2019 in favor of mandating two-person crews on every train.

Market Dynamics

Growing investments in the railway industry is predicted to largely benefit the global railroads market. The need to build new railway lines and improve railway infrastructure is prognosticated to add to the demand for railroads. Emerging economies showing an aggressive rate of industrialization are expected to increase the growth of the global market. Cheap railway fares, increasing tourism, and improving economic conditions could be other contributors to the global market growth.

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However, factors such as slowdown in trade are foreseen to act as growth restraints in the global railroads market. Nonetheless, the development of freight corridor projects and improving demand for rail freight are prophesied to create opportunities in the global market.

Market Segmentation

By Type

• Passenger Rail
• Rail Freight

According to analysts, passenger rail is foreseen to take a commanding share of and show quick growth in the global railroads market. Some of the important factors increasing the demand for passenger rail are low fares of passenger trains and the growth of the tourism industry. Furthermore, rising investment in the expansion of passenger rail networks is expected to push the growth of this segment.

Among regions, North America is foretold to attract a significant share of the global railroads market due to the high demand in the US. Technological development, increasing demand for consumer goods, and rising focus on passenger safety are expected to support the market growth of the US. Availability of larger rail networks and high number of railcars and locomotives used in the country are anticipated to place the US in a position of strength in the global market.

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Key Players

The global railroads market marks the presence of top players such as Central Japan Railway Company, SNCF Group, Union Pacific Corporation, OAO RZD (Russian Railways), and others.

Research Methodology

As part of preliminary data mining, QY Research collects and collates raw market data on a broad front. In order to make sure that only authenticated and validated sources are taken into consideration, the market data is filtered continuously by experienced researchers. Technical data and trends are gathered and studied with the help of trade journals, technical symposia, and surveys. The analysts create a unique statistical model that is specially customized for the concerned market. The model is used to analyze pricing trends, application development trends, the technology landscape, and market dynamics and derive market forecasts and estimates.

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SOURCE QY Research