Railcar Leasing Market in Europe 2017-2021
About Railcar Leasing
Rail freight transportation is used for the movement of heavy goods, such as coal, metals, and oils. Often, rail freight service providers go beyond logistics and provide value-added services, such as loading and unloading, documentation services, and packaging. They also provide strategic and operational value to many shippers worldwide. Freight service providers are improving logistics services by introducing innovative supply chain management. The European rail freight transportation market accounts for 15% of the freight market in Europe. The main countries where rail freight is flourishing are Germany, Poland, and France.
Technavio’s analysts forecast the railcar leasing market in Europe to grow at a CAGR of 4.13% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the railcar leasing market in Europe for 2017-2021. To calculate the market size, the report presents the vendor landscape and a corresponding detailed profiling of the market participants across the value chain of the railcar leasing market in Europe.Technavio's report, Railcar Leasing Market in Europe 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Railcar Leasing Market in Europe 2017-2021
Technavio recognizes the following companies as the key players in the railcar leasing market in Europe: Beacon Rail Leasing, GATX Corporation, Touax Rail, and VTG.
Other Prominent Vendors in the market are: Alpha Trains, Beacon Rail, Akiem, British American Railway Services, CIT Group, GE Capital, Hanson Traction, Knoxville Locomotive Works, RAILPOOL, Macquarie European Rail, and Mitsui Rail Capital.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is applications of advanced coatings on railcars. Railcars, due to their extensive use, are prone to wear and tear. In addition, railcars are susceptible to weather changes and are also capable of reacting with the contents. To eliminate damage or reaction of railcars, solid coatings, such as epoxy coatings, sulfuric acid, and phenolic acid are used.”
According to the report, one driver in market is increased funding by the European Commission. Government funding in the European railway industry has increased significantly since 1990. For example, in Switzerland, two-third of the revenue from the heavy vehicle fee is designated for rail investments. In the past, this revenue was used for two long tunnels through the Alps (Gotthard and Lotschberg routes) that were designed to increase rail freight productivity and make rail competitive with road freight. Many countries, such as the UK, Germany, Spain, and France have privatized their railways. Governments support the railway industry by providing freight grants to encourage the movement of freight by rail. For instance, during 2013-2014, the British government provided $25.73 million to support the rail industry through freight grants. These grants are incentives that take freight off the congested roads and move it by rail. Moreover, they are secured through the mode shift revenue support (MSRS) scheme.
Further, the report states that one challenges in market is shortage of skilled labor in the industry. Timely maintenance of railcars is vital in the railcar industry. Maintenance and servicing of railcars are mainly done by the railcar leasing companies. Railcar and locomotive machinery are complex in nature, and their maintenance and servicing need to be done by skilled railway engineers. At present, Europe is experiencing a shortage of skilled railway engineers. Europe railroad is aiming at improving the railway infrastructure by application of innovative and emerging technologies. However, high competition from other sectors, such as avionics, marine, and inland waterways, is hindering the rail industry's ability to retain engineers, who are adept with the latest technology.
Beacon Rail Leasing, GATX Corporation, Touax Rail, VTG, Alpha Trains, Beacon Rail, Akiem, British American Railway Services, CIT Group, GE Capital, Hanson Traction, Knoxville Locomotive Works, RAILPOOL, Macquarie European Rail, and Mitsui Rail Capital.
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