LONDON--(BUSINESS WIRE)--The new rail logistics market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
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"One of the primary growth drivers for this market is the global increase in trade,” says a senior analyst for the industrials industry at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the rail logistics market size to grow by USD 39.55 billion during the period 2020-2024.
Rail Logistics Market Segment Highlights for 2020
- The rail logistics market is expected to post a year-over-year growth rate of 3.40%.
- Based on the type, the intermodal segment saw maximum growth in 2019. The increased demand for rail logistics due to rising trade is driving the segment.
- The growth of the segment will be significant during the forecast period.
Regional Analysis
- 33% of the growth will originate from the North American region.
- The highly developed rail freight infrastructure and railway expansion projects undertaken by various states will significantly increase rail logistics market growth in the North American region.
- 33% of the market’s growth will originate from North America during the forecast period.
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Notes:
- The rail logistics market size is expected to accelerate at a CAGR of almost 4% during the forecast period.
- The rail logistics market is segmented by type (intermodals, tank wagons, and freight cars) and geography (APAC, Europe, MEA, North America, and South America).
- The market is concentrated due to the presence of a few established vendors holding significant market share.
- The research report offers information on several market vendors, including 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.
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