published Date SEP 2018

North American Rail Freight Industry is expected to reach USD 183.85 billion by 2023 | CAGR of 3.75%

Increasing congestion on highways and roads, and rail's low cost and less emission transport, are the factors driving the global Insomnia therapeutics market.

September 10, 2018: The North American Rail Freight Industry is expected to reach over USD 3.2 billion by 2023, as per a new report published by Mordor Intelligence, LLP. The market is expected to rise, owing to factors, such as increasing congestion on highways and roads, and rail's low cost and less emission transport. In addition, the integration of advanced technologies, such as big data analytics, positive train control, etc. are expected to reinforce growth prospects over the forecast period.

The government of North American countries plays a significant role in shaping the transportation sector. Federal government constitute several associations and governing bodies to regulate, monitor, and designs the necessary plans to improve the rail transportation network. The U.S. Department of Transportation (USDOT) announced USD 1.5 billion Notice of funding opportunity through the launch of BUILD transportation Program. The pre-existing Transportation Investment Generating Economic Recovery (TIGER) grant program will be replaced by the new program where grants are used for investments in infrastructure and surface transportation. The grants will be awarded to the projects, which have significant regional or local impact. To build a robust rail network, support capital projects, and boost safety measures, Federal Railroad Administration (FRA) has been accepting applications to provide funding for rail projects.

To know more about the coverage of the North American Rail Freight Industry report, click the below link:

https://www.mordorintelligence.com/industry-reports/north-america-rail-freight-industry

Rail Transportation is regarded as one of the most invested and funded sectors in Canada. In an attempt to construct a safe, affordable, and efficient world-class rail system, railroads continuously allocate around 20% of their inflows to develop and maintain their networks every year. The rail industry makes necessary yearly investments in building, maintaining, and upgrading its network. Railroad operators mainly focus on replacing ageing railcars and bridges, modernizing signal control systems, expanding the capacity of intermodal yards and further invest in safety innovations. Additionally, the government of Canada initiated plans for the rail relocation process in the metropolitan and urban areas.

Technology aids railroad operators to achieve global safety milestones, which minimize the impact on the environment and maintain a competitive edge over other modes of transport in the current fast-paced global economy. Railroads pour billions of dollars in technology, which make them more productive than ever, delivering more goods without significantly increasing the size of the railroad network.

Get a free overview on North America Rail Freight Industry (2018-2023)

Key Insights from the Report:

  • The United States account for highest share in the North American region. The presence of major railroads, consistent investments in the rail infrastructure and technology, growing demand for the intermodal transport, aids the rail freight transport market in the United States.
  • In 2016, Canadian railways invested USD1.5 billion in new capital programs, to support the rail's growth and service enhancements. Majority of these investments went to track, and roadway improvements, which held more than half of the capital, and it was followed by investments in new buildings, machinery, and equipment.
  • The North American Rail Freight Industry is fragmented in nature, owing to the presence of multiple companies ranging from railroads to rail freight forwarders. Key players in the market include Union Pacific, BNSF, CSX, Norfolk Southern Railway, Canadian National Railway, Canadian Pacific Railway, Ferromex, Alaska Railroad Corporation, and others

North American Rail Freight Industry Segmentation by Cargo Type, by Destination, by Services, Perspectives on End-users, and by Geography,

North American Rail Freight Industry by Cargo Type,

  • Containerized
  • Liquid Bulk
  • Non-containerized

North American Rail Freight Industry by Destination

  • Domestic
  • International

North American Rail Freight Industry by Services

  • Transportation
  • ervices Allied to Transportation

North American Rail Freight Industry - Perspectives on End-users

North American Rail Freight Industry by Region

  • United States
  • Mexico
  • Canada

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