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The global railcar leasing market size will grow by USD 3.29 billion during 2019-2023. This market report provides a detailed analysis of the market by type of railcar (freight cars, tank cars, and locomotives) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including American Railcar Industries Inc., CIT Group Inc., GATX Corp., Trinity Industries Inc., and VTG AG.
Some of the key findings from our railcar leasing market forecast report are summarized below
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The global railcar leasing market is witnessing several advances in railcar systems, including design innovations and the integration of intelligent systems in freight cars. Freight cars integrated with intelligent systems and monitoring systems use multiple cameras and sensors to collect data. These systems ensure safe and reliable transportation of goods by preventing unauthorized access. Design for Six Sigma (DFSS) and Theory of Inventive Problem Solving (TRIZ) are also being used for making efficient and better railcar designs. The use of advanced coatings such as sulfuric acid coatings, epoxy coatings, and phenolic coatings have also increased to protect railcars from wear and tear due to long-term usage. High solid coatings are used to protect cylindrical tank cars from volatile organic compounds and hazardous air pollutants. These advances in railcar systems are identified as one of the critical railcar leasing market trends, which will have a positive impact on the growth of the market.
The demand for railcar leasing is increasing among end-users as it allows them to use the latest equipment and technologies without incurring additional costs. By leasing, end-users can use railcars as per their convenience without any concern of possession costs, devaluation, and repair and maintenance charges. The increase in rail logistics has fueled the demand for railcars and consequently inducing leasing companies to increase their investments in well-maintained quality railcars. The cost advantages offered by railcar leasing is expected to boost its demand among end-users and propel the growth of the market at a CAGR of almost 7% during the forecast period.
The global railcar leasing market is fragmented. To help clients improve their market position, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this railcar leasing market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.
The report offers a detailed analysis of several leading railcar leasing companies, including:
The freight cars segment will account for the highest railcar leasing market share. The growth in freight car logistics and the increasing demand for cement and sand due to the rise in construction activities are some of the factors fueling railcar leasing market growth in this segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the railcar leasing market size.
With a complete study of the growth opportunities for companies, it has been identified that North America will account for the highest share of the railcar leasing market throughout the forecast period. Factors such as rising demand for rail freight logistics, rising environmental concerns, and increasing efficiency of rail networks are contributing to the growth of the railcar leasing market in this region.
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