The rail freight transport is a usage of railroads & trains to transport the cargo on land. It is generally used for transporting various kinds of goods/products all, or some of the way between the shipper/carter and intended destination. Some examples of cargo that rails transport are: automotive, agriculture, chemicals, energy (coal, oil, and wind turbines), raw construction material and forest productions. Moving products/goods by train is perfect for the high-value industrial products like electronics & computer equipment, vehicles, as well as promotional equipment that must reach their final destination as fast as possible.
Rail freight can haul bulk cargo, specially designed cars for a specific type of freight and standardized shipping containers. All these rail freights are used to environmental-friendly transport with the lower fuel consumption; short transit times for long distances connected by railway corridors, and increased certainty of deliveries owing to strict rail freight timetables.
Some of the key advantages of rail freight include low-price for long distance transport, possible to transport very large shipments at once, well-organized transportation resulting in accurate rail freight quotes, lower fuel consumption makes rail freight more eco-friendly than road transport, transport by rail is the safest way of transporting goods by land and delivery time is not influenced by traffic or weather conditions. Beside this, few of the disadvantages include expensive for short-distance transport, slower booking process compared to transport by road, border stations may cause delays as there is usually a change of the train operator and low flexibility due to strict routes & timetables.
Referring to the study, “Rail Freight Global Market Report 2020-30: Covid 19 Impact and Recovery” some of the major companies that are presently working in the global rail freight market include SNCF, Duetsche Bahn AG, CN Railway, DB Schenker and SBB Cargo.
On the basis of type, rail freight market is bifurcated into freight cars, intermodal and tank wagons. Intermodal is a more efficient & environmentally friendly alternative to truckload for shipments of various miles or more. On the basis of freight type, market is bifurcated into commodities, liquid, containerized and others. On the basis of destination, market is bifurcated into international destination and domestic destination. Additionally, on the basis of application, market is bifurcated into post services, mining industry, logistic industry, oil & gas industry and others.
Increase in international transportation, growth in infrastructure development and concentrating on rebuilding & improving the framework of railways, rapidly growing economies of developed & developing countries and rise in disposable income are some of the major driven factors for growth of the rail freight market. Additionally, growth in adoption of advanced technologies is a key opportunity for market.
By regional analysis, the Asia-pacific is a prevalent region in global rail freight market due to growth in industrial as well as cross-border trade activities across the region. Both Europe and North-America regions are estimated to exhibit substantial growth rate because of rise in adoption of containerization over the forecast period. It is anticipated that future of the global rail freight market will be bright owing to growth in domestic intermodal transportation during the forecast period.
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Related Report:-
Rail Freight Global Market Report 2019
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