Road Freight Transportation Market in North America 2017-2021
About Rail Freight Transportation
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 services to many shippers worldwide. Freight service providers are improving logistics services by introducing innovative supply chain management.
Technavio’s analysts forecast the rail freight transportation market in North America to grow at a CAGR of 5.57% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the rail freight transportation market in North America for 2017-2021. To calculate the market size, the report considers the rail freight services provided by the vendors in North America.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Rail Freight Transportation Market in North America 2017-2021
Technavio recognizes the following companies as the key players in the rail freight transportation market in North America: CN Railway, CSX, Kansas City Southern, and Union Pacific.
Other Prominent Vendors in the market are: BNSF, Canadian Pacific, DB Schenker, Ferromex, GeoMetrix Rail Logistics, Genesee & Wyoming, Hub Group, Norfolk Southern, and RSI Logistics.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing congestion on roads and highways. The transportation of goods over North American roads is getting more difficult due to high congestion on highways as well as urban areas, which causes a delay in deliveries and high fuel consumption. Thus, shippers are switching to rail transportation as it is more cost effective and reliable.”
According to the report, one of the major drivers for this market is environmental efficiency of rail transportation. Compared with other modes of transportation rail freight transportation has a lower impact on the environment and provides 55% more fuel efficiency. In addition, transportation through rail freight also reduces highway congestion, which directly results in lower greenhouse gas emissions and pollutions levels.
Further, the report states that one of the major factors hindering the growth of this market is increase in rail freight congestion. Increased transportation of freight volume of commodities across the US and the growing trade activities between the US and Mexico have resulted in an increase in the volumes of freight being carried across railroads. This has, in turn, resulted in increased traffic on the rail freight lines.
CN Railway, CSX, Kansas City Southern, Union Pacific, BNSF, Canadian Pacific, DB Schenker, Ferromex, GeoMetrix Rail Logistics, Genesee & Wyoming, Hub Group, Norfolk Southern, RSI Logistics.