Global Freight Cars Market Report 2021 – COVID-19 Impact and Recovery
Global Freight Car Market Report
Global Business Research Company Freight Cars Market Report 2021 – COVID-19 Impact and Recovery
LONDON, GREATER LONDON, UK 3rd November 2021 /EINPresswire.com/ – Freight cars are now equipped with GPS tracking and this is likely to be an emerging trend in the freight car market. The efficiency of freight wagon transport is increased through the use of advanced GPS technologies. The integration of GPS technologies into freight wagons by rail operators helps manage the transportation process, dispose of freight wagons, maintain a consistent delivery process and reduce theft of goods from freight wagons. For example, in 2019 Indian Railways began real-time monitoring of over 700 trains (people and freight) using The Control Office Application (COA) system. The COA was developed by ISRO in collaboration with Indian Railways to monitor the movement of freight wagons between two train stations using GPS. Therefore, it is expected that the inclusion of certain criteria such as real-time data and on-time deliveries will increase the demand for freight wagons.
The global freight car market is forecast to grow from $ 135.32 billion in 2020 to $ 148.87 billion in 2021, with an average annual growth rate (CAGR) of 10%. The growth of the freight wagon market is mainly due to companies reorganizing their operations and recovering from the effects of COVID-19, which previously resulted in restrictive containment measures involving social distancing, remote working and the closure of commercial activities that created operational challenges . The freight car market is expected to reach $ 193.00 billion in 2025 at a CAGR of 6.7%.
Read more about the global Freight Car Market report:
https://www.thebusinessresearchcompany.com/report/freight-cars-global-market-report
Government initiatives are expected to stimulate growth in the freight wagon market. In 2019, for example, the Indian government took initiatives to make rail freight transport more attractive through long-term collective bargaining agreements with major customers, to create incentives for container transport, initiatives to rationalize tariffs and to introduce programs such as the General-Purpose Wagon Investment Scheme (GPWIS), Liberalized Wagon Investment Scheme (LWIS), Special Freight Train Operator (SFTO) and Automobiles Freight Train Operator (AFTO) and others. Investments in rail infrastructure have also been scrutinized by the Indian government, following an investor-friendly policy and allowing foreign direct investment in railroads to improve infrastructure for freight and high-speed trains. Similarly, the UK government launched a Speed Improvement Initiative in 2019, which works closely with freight carriers to conduct continuous analysis of freight services with an emphasis on goods and flows. Therefore, the measures taken by the government to increase rail freight transport will increase the growth in demand for freight cars during the reporting period.
Key players in the global freight wagon industry include CN Railway, DB Schenker, SBB Cargo, Union Pacific, Kansas City Southern, CSX Corporation, Norfolk Southern Corporation, Housatonic Railroad Company, Linfox Pty Ltd.
The global TBRC Freight Car Market report is segmented by Type into Intermodal, Tank Car, Freight Car, by Application in Coal, Petroleum & Chemicals, Metals & Minerals, Automobiles, Agricultural Products, Others, by End-Use Industries in Agriculture, Construction, Oil & Gas, Chemical , Medicine & Pharma, Food & Beverage, Government & Defense, Automotive & Transportation, Marine.
Global Freight Wagons Market Report 2021 – By Type (Intermodal Vehicles, Tank Cars, Freight Cars), By Application (Coal, Petroleum & Chemicals, Metals & Minerals, Automobiles, Agricultural Products), By End-Use Industries (Agriculture, Construction, Oil & Gas, Chemicals, Medical, and Pharmaceutical, Food and Beverage, Government and Defense, Automobile and Transportation, Marine), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides an overview of the Freight Truck market and a forecast of the market size and growth of the Freight Car for Whole Market, Freight Car Market Segments and Regions, Freight Car Market Trends, Freight Car Market Drivers, Restrictions, Revenues, Profiles, and Market Shares of Leading Competitors.
Request Sample Of Global Trucks Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3639&type=smp
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November 03, 2021, 10:10 GMT
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