The global railroads market is expected
to reach USD 829.3 billion by 2025, according to a new report by Grand View
Research, Inc. Increasing investments by governments across the globe for
construction of new rail lines and to upgrade the existing network can be the
key factor for the growth of railroads market in the coming years. Approvals
for initiation of new projects, growing tourism industry in Europe and Asia
Pacific, and availability of passenger rail as a cheap mode of transport can be
other factors that are expected to boost the market growth in the coming years.
In the recent years,
tourism industry has witnessed a substantial growth in Asia Pacific and
European countries. These countries are attracting tourists from within the
region and from other nations. Many tourists are selecting trains owing to
their low fares and high connectivity. In addition, there has been an
increasing demand for freight due to rapid industrialization and growth in
imports and exports in Asian countries.
Many governments and
private organizations are increasingly investing to expand railways in their
countries. For instance, in October 2017, the Indian Railway minister announced
USD 150 million investments over 2018-2023. These investments are expected to
be directed towards comfortable, safe, and secure travel of the passengers in
the country. Similarly, in January 2018, China’s national railway operator
announced an investment of USD 113 billion in fixed rail assets. This fund is
expected to be diverted towards the construction of 4,000 km of new lines in
the country. Such investments are expected to boost the market growth during
the forecast period.
To request a sample copy or view summary of this report,
click the link below:
https://www.grandviewresearch.com/industry-analysis/railroads-market
https://www.grandviewresearch.com/industry-analysis/railroads-market
Further Key Findings From the Report Suggest:
· Passenger rail segment held majority of the
market share in 2016 and is anticipated to witness fastest rate during the
forecast period, due to rising tourism industry and construction & usage of
metro & bullet trains in the emerging nations
· U.S. dominated the global market owing to
an increase in demand freight rail and increasing investments for the expansion
of lines
· Asia Pacific is anticipated to witness the
fastest growth owing to growing tourism industry, improving economic
conditions, and government investment for construction of new rail lines
· Middle East region is expected to witness
the second fastest rate owing to availability of funds for new rail projects
and increasing usage of passenger rails
· Some of the key players includeCentral
Japan Railway Company, SNCF Group, Union Pacific Corporation, and OAO RZD
(Russian Railways)
Grand View Research has
segmented the railroads market on the basis of type and region:
Railroads Type Outlook (Revenue, USD Billion, 2014 -
2025)
·
Passenger Rail
·
Rail Freight
Railroads Regional Outlook (Revenue, USD Billion, 2014 -
2025)
·
U.S.
·
Europe
·
Asia Pacific
·
Middle East
·
Rest of the World
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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