Worldwide Intermodals Industry to 2030 - Featuring Union Pacific Railroad, Canadian National Railway & CSX Transportation Among Others - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jul 5, 2021--
The “Intermodals Global Market Report 2021: COVID-19 Impact and Recovery to 2030” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global intermodals market as it emerges from the COVID-19 shut down.
The global intermodals market is expected to grow from $49.48 billion in 2020 to $54.26 billion in 2021 at a compound annual growth rate (CAGR) of 9.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $69.44 billion in 2025 at a CAGR of 6.4%.
- Union Pacific Railroad
- Canadian National Railway
- CSX Transportation
- Norfolk Southern Railway
- BNSF Railway
- DB Schenker
- SBB Cargo
- CTL Logistics
- VTG Rail Logistics
- Kuehen+Nagel Logistics
- Union Pacific
- RSI Logistics
- Deutsche Bahn AG
- Fedex Corp.
- Indian Railways
- Japan Freight Railway Company (JR Freight)
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The intermodal market consists of sales of intermodal rail freight transportation services and related goods by entities (organizations, sole traders, and partnerships) that provide the transportation of freight in an intermodal container. In this mode, handling of the freight is not done manually when changing a rail carrier, thus increasing the security of the transported product substantially. Only goods and services traded between entities or sold to end consumers are included.
Organizations are implementing precision scheduled railroading that is gaining popularity in the intermodal market over recent years. Precision scheduled railroading (PSR) is a plan that includes centralizing operations, reducing staff, running less, heavier, faster trains, and optimizing the network to increase efficiency. For instance, in April 2019, Norfolk Southern rolled out the precision-scheduled railroading (PSR) plan to improve its services. In addition to this, according to the Railway Gazette International, in 2019, Kansas City Southern has implemented precision scheduled railroading for improved cost structure, improved customer service, and consistent and reliable operations.
The intermodal market covered in this report is segmented by type into container-on-flatcar (COFC), trailer-on-flatcar (TOFC), by destination into domestic, international, by application into oil and gas, aerospace and defense, industrial and manufacturing, construction, chemical, food and beverages, healthcare, others.
The sustainable nature of intermodal rail transport is expected to drive the intermodals market. Unlike truckloads, rails use less fuel and are faster, which makes intermodal transportation energy and cost-efficient. Over the years, rail fuel efficiency has firmly increased, making it the most environmentally sustainable means of transporting goods overland transport. According to the Association of American Railroads (AAR), the USA freight railways can move one tonne of freight more than 470 miles per gallon of fuel on an average. AAR analysis of federal data finds that if 25% of truck traffic traveling at least 750 miles went by rail instead, annual greenhouse gas emissions expected to fall by around 13.1 million tonnes and if 50% of truck traffic moving at least 750 miles, the greenhouse gas emissions dropped by about 26.2 million tonnes. The most fuel-efficient form of land transport is moving freight by rail, which reduces transportation costs and promotes brand control for a sustainable environment that encourages the growth of the intermodal market.
For more information about this report visit https://www.researchandmarkets.com/r/nqed6q
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INDUSTRY KEYWORD: TRANSPORT RAIL
SOURCE: Research and Markets
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PUB: 07/05/2021 09:25 AM/DISC: 07/05/2021 09:25 AM