Market Size of India Rail Freight Transport Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Rail Freight Transport Market Analysis
The size of the India air freight market is estimated at around USD 15 billion in the current year and is anticipated to register a CAGR of over 4% during the forecast period.
- The Rail Logistics project will assist India in diverting more traffic from the road to the rail, improving the efficiency of freight transportation while lowering annual GHG emissions by millions of tonnes. Additionally, the project will encourage more private-sector investment in the railroad industry.
- The fourth-largest rail network in the world, Indian Railways (IR), moved 1.2 billion tonnes of freight during the fiscal year that ended in March 2020. However, just 17% of India's freight is moved by rail; 71% of it is conveyed by road. Volumes have been constrained, and shipping speeds and reliability have suffered due to IR capacity restrictions. Since trucks have been gaining market share throughout the years, IR has been losing market share; in 2017-18, its market share was 32%, down from 52% a decade earlier.
- Road freight accounts for about 95% of the freight sector's emissions, making it the biggest source of GHG emissions. Additionally, trucks were involved in 15.8% of all fatal road transport-related accidents and 12.3% of all traffic fatalities in 2018. Rail emits about one-fifth of the GHG emissions from trucks. With IR expecting to become a net-zero carbon emitter by 2030, rail has the ability to reduce 7.5 million tonnes of carbon dioxide and other greenhouse gases annually.
