Wednesday, 14 June 2023 07:34 AM
Company Update
WILMINGTON, DE / ACCESSWIRE / June 14, 2023 / The global railcar leasing market is projected to flourish at a CAGR of 5.4% from 2021 to 2031. As per the report published by TMR, a valuation of US$ 26.5 billion is anticipated for the market in 2031. In 2022, the market for railcar leasing was valued at US$ 16.4 billion.
The rapidly improving transport infrastructure in developing and developed nations is expected to drive the railcar leasing market as railcar leasing is the cost-effective and flexible option.
The increasing global trade volumes increase and intermodal transportation networks expand, the demand for railcar leasing to support these logistics networks is expected to rise.
Increased focus on sustainability and reducing carbon emissions and increased interest in rail transportation as an environmentally friendly mode of freight transport, to boost the market demand.
Rail transportation is more fuel-efficient and emits fewer greenhouse gases compared to trucking. As businesses strive to meet sustainability goals, the demand for railcar leasing services may increase
The growing manufacturing and construction sector and increased demand for railcar for the transportation of raw material, equipment, and finished goods is expected to provide an opportunity for market growth.
The increasing technological advancements in the railcar industry, and the use of improved tracking and monitoring systems, telematics, and data analytics, are expected to enhance the railcar leasing market demand during the forecast period.
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Market Snapshot:
| Report Coverage | Details |
| Market Revenue | US$ 16.4 Bn |
| Estimated Value | US$ 26.5 Bn |
| Growth Rate - CAGR | 5.4% |
| Forecast Period | 2023-2031 |
| No. of Pages | 135 Pages |
| Market Segmentation | Railcar Type, Lease Type, Lease Duration, End-use Industry, Ownership Type |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America |
| Companies Covered | Akiem Group SAS, Alpha Trains Luxembourg Sarl, American Railcar Industries Inc., Angel Trains Ltd., Beacon Rail Leasing Ltd., CTI Group Inc., Ermewa Interservices, ERR European Rail Rent GmbH, GATX Corporation, Mitsui and Co. Ltd., Porterbrook Leasing Co. Ltd., Rail Innovators Group B.V., The Greenbrier Companies Inc., Touax SCA, TRANSCHEM Sp zoo, TRANSWAGGON GmbH, VTG GmbH, Wells Fargo Company |
Key Takeaways from the Market Report
- As of 2023, the railcar leasing market is forecast to reach US$ 17.3 billion
- Based on railcar type, the tank car segment is expected to remain popular during the forecast period.
- Based on end-use, petrochemical, and gases segment to account for a significant market share during the forecast period.
- Based on lease duration, the long-term leases segment remains the most favored segment in the railcar leasing market
- North America is projected to be the lucrative market for the railcar leasing market
Railcar Leasing Market: Prominent Drivers and Trends
- The increasing demand for freight transportation is expected to drive the railcar leasing market.
- The increased demand for railcar leasing to transport petrochemical and gas to drive the market growth during the forecast period
- Increasing technological advances in manufacturing and the availability of cost-effective and more efficient railcar leasing offer an opportunity for market expansion.
- Increase in research & development activities and technological innovation accelerates the growth of the railcar leasing market during the forecast period
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Railcar Leasing Market: Regional Analysis
- North America accounts for the largest share of the railcar leasing market this is due to the well-developed railcar transportation network and the presence of a robust industrial sector.
- The presence of extensive rail systems catering to various industries like agriculture, energy, chemicals, and automotive in the United States and Canada. The increasing government policies and regulations promoting rail transportation also drive the railcar leasing industry.
- Asia Pacific is expected to witness lucrative growth opportunities for the railcar leasing market during the forecast period. Rapid industrialization and urbanization, driving the demand for rail transportation and railcar leasing services.
Competitive Landscape
Transparency Market Research has profiled the following players in its global railcar leasing market report:
- Akiem Group SAS
- Alpha Trains Luxembourg Sarl
- American Railcar Industries Inc.
- Angel Trains Ltd.
- Beacon Rail Leasing Ltd.
- CTI Group Inc.
- Ermewa Inter services
- ERR European Rail Rent GmbH
- GATX Corporation
- Mitsui and Co. Ltd.
- Porterbrook Leasing Co. Ltd.
- Rail Innovators Group B.V.
- The Greenbrier Companies Inc.
- Touax SCA
- TRANSCHEM Sp zoo
- TRANSWAGGON GmbH
- VTG GmbH
- Wells Fargo Company
Market players in railcar leasing are implementing various strategies such as investments in R&D, product expansions, and mergers & acquisitions to acquire new growth opportunities in the market and extend the market reach.
- In October 2021- Beacon partnered with the first group and Hitachi Rail for a new green rail service.
- In December 2020 - GATX Corporation announces the acquisition of Trifleet Leasing Holding B.V., with headquarters in the Netherlands. Trifleet has over 18,000tank containers to lease for chemical, industrial gas, energy, food, cryogenic and pharmaceutical industries
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Railcar Leasing Market: Key Segments
Railcar Type
- Tank Cars
- Hopper Cars
- Flat Cars
- Box Cars
- Refrigerated Cars
- Others
Lease Type
- Full-service Leasing
- Net Leasing
- Modified Gross Leasing
Lease Duration
- Short-term Leases
- Long-term Leases
End-use Industry
- Chemical
- Petroleum and Gas
- Agriculture
- Construction
- Automotive
- Food and Beverage
- Others
Ownership Type
- Private Leasing Companies
- Railroads
- Financial Institutions
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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