Railcar Leasing Market in North America: Driver
One of the key drivers supporting the railcar leasing market growth in North America is the increasing demand for tank cars due to growing crude oil production. There will be a substantial increase in the production of refined products such as gasoline, with the increasing crude oil production. This rise in the production of flammable products has considerably grown the demand for tanks cars in North America over the past few years. The tank cars carrying flammable and toxic materials must be manufactured as per the rules and regulations mandated by the Federal Road Administrations. With such constraints, many crude oil manufacturers prefer leasing rail cars for crude oil transportation over the purchase of new rail cars. This, in turn, will drive the demand for railcar leasing during the forecast period.
Do you want to know more about the drivers impacting the growth of the railcar leasing market in North America? Request Free Sample Research Report
Railcar Leasing Market in North America: Challenge
Another factor supporting the railcar leasing market growth in North America is the application of advanced coatings on railcars. The coatings that are used on railcars should be certified by National Science Foundation (NSF) and the Food and Drug Administration (FDA). The tank cars are highly prone to deterioration, as they carry crude oil and its various derivatives. These compounds easily react with metal and will cause wear and tear. In addition, normal coatings are not possible in tank cars, owing to their cylindrical shape, leading to uneven coatings. In such cases, high solid coatings are used to protect railcars from volatile organic compounds and hazardous air pollutants. Hence, the application of advanced coatings can increase their lifespan, thereby driving the market.
Get lifetime access to our Technavio Insights. Subscribe now to our most popular "Lite Plan" billed annually at USD 3000. View 3 reports monthly and Download 3 Reports Annually!
Railcar Leasing Market In North America: Vendor Analysis
American Industrial Transport Inc., C.K. Industries Inc., CIT Group Inc., GATX Corp., Mitsui Rail Capital LLC, Sasser Family Holdings Inc., The Greenbrier Companies Inc., Trinity Industries Inc., VTG Aktiengesellschaft, and Wells Fargo and Co., among others, are some of the key vendors operating in the railcar leasing market in North America. The key offerings of a few of these vendors are mentioned below:
- American Industrial Transport Inc. - The company offers railcar leasing such as tank cars, covered hoppers, and others.
- C.K. Industries Inc. - The company offers railcar leasing such as full service lease and net lease.
- CIT Group Inc. - The company offers railcar leasing through its wide range of Locomotive fleet, such as SW1500 Locomotive and others.
Railcar Leasing Market In North America: Segmentation Analysis
This market research report segments the railcar leasing market in North America by product (freight cars, tank cars, and locomotives), end-user (petroleum and chemical, coal, agricultural products, and others), and geography (US and rest of North America).
The US led the railcar leasing market in North America in 2021, followed by Rest of North America. During the forecast period, the US is expected to register the highest incremental growth due to factors such as the high demand for products such as oil and gas, coal, agricultural products, and metals and mineral.
Know more about the contribution of each segment of the market. Download a Free Sample
Related Reports:
Rail Freight Market by Destination and Geography - Forecast and Analysis 2022-2026
Railroad Market by Type and Geography - Forecast and Analysis 2021-2025
Railcar Leasing Market Scope in North America |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.55% |
Market growth 2021-2025 |
USD 4.39 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.28 |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
American Industrial Transport Inc., C.K. Industries Inc., CIT Group Inc., GATX Corp., Mitsui Rail Capital LLC , Sasser Family Holdings Inc., The Greenbrier Companies Inc., Trinity Industries Inc., VTG Aktiengesellschaft, and Wells Fargo and Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Tank cars - Market size and forecast 2020-2025
- Locomotives - Market size and forecast 2020-2025
- Market opportunity by Product
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Petroleum and chemical - Market size and forecast 2020-2025
- Coal - Market size and forecast 2020-2025
- Agricultural products - Market size and forecast 2020-2025
- Others - Market size and forecast 2020-2025
- Market opportunity by End-user
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- US - Market size and forecast 2020-2025
- Rest of North America - Market size and forecast 2020-2025
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor Landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- American Industrial Transport Inc.
- C.K. Industries Inc.
- CIT Group Inc.
- GATX Corp.
- Mitsui Rail Capital LLC
- Sasser Family Holdings Inc.
- The Greenbrier Companies Inc.
- Trinity Industries Inc.
- VTG Aktiengesellschaft
- Wells Fargo and Co.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
Share this article