Railway Logistics Market projected to reach $3.579.7 trillion by 2031

Vinod Shah Posted on: 2024-03-15 10:00:00 Viewer: 3,597 Comments: 0 Country: India City: New Delhi

Railway Logistics Market projected to reach $3.579.7 trillion by 2031

Rail logistics transport, a method of moving goods on wheeled vehicles along tracks, stands out as one of the most crucial, widely utilized, and cost-effective modes of transportation for both short and long distances. Renowned for its reliability and safety, rail transport has become a cornerstone of global commerce. Trains offer swift delivery while remaining largely unaffected by common weather disruptions like rain or fog, making them a preferred choice for freight movement. Furthermore, rail logistics boast a well-organized infrastructure with fixed routes and schedules, ensuring consistent and dependable services compared to other modes of transport.

The growth of the global rail logistics market has been fueled by increased investment in railway development and a growing demand for secure, efficient transportation systems. Despite its prominence, challenges such as cross-border freight restrictions pose hurdles to market expansion. However, the ongoing development and testing of autonomous trains, coupled with the rise in industrial and mining activities, present lucrative growth opportunities in the foreseeable future.

The rail logistics market is segmented based on type, operational area, end-use industry, and region. Types of rail logistics include intermodals, tank wagons, and freight cars, while operational areas encompass both domestic and international sectors. End-use industries served by rail logistics span healthcare, manufacturing, telecommunications, retail, technology, trade and transportation, among others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA regions.

According to the World Health Organization (WHO), road traffic injuries remain a leading cause of mortality among individuals aged 15 to 29, resulting in approximately 1.25 million deaths annually. Alarmingly, 90% of these fatalities occur in low and middle-income countries, despite accounting for only 54% of the world's vehicles. This underscores the pressing need for safe and efficient transportation systems, driving the demand for rail logistics solutions.

In 2021, the global rail logistics market reached a valuation of $1.995 trillion, with projections indicating a steady growth trajectory to reach $3.579.7 trillion by 2031, representing a compound annual growth rate (CAGR) of 6.1% from 2022 to 2031.

Key Companies in Rail Logistics:

  • Kuehne + Nagel International AG
  • United Parcel Service Inc.
  • CEVA Logistics
  • DB Schenker
  • Nippon Express Co., Ltd.
  • DSV A/S
  • C.H. Robinson Worldwide, Inc.
  • Geodis Group
  • Deutsche Post DHL Group
  • Deutsche Bahn AG
  • A.P. Moller – Maersk A/S
  • FedEx Corporation

With these insights, businesses and stakeholders can navigate the evolving landscape of rail logistics, harnessing its potential for sustainable and efficient transportation solutions.

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