North America - Rail Freight Transportation Market by Mode Of Transportation and End-user - Forecast and Analysis 2024-2028

Published: Dec 2023

Pages: 160

SKU: IRTNTR75033

Snapshot

North America - Rail Freight Transportation Market 2024-2028

The North America - Rail Freight Transportation Market size is estimated to grow at a CAGR of 7.45% between 2023 and 2028. The market size is forecast to increase by USD 35.83 billion. Several factors play a crucial role in the market's growth such as low transportation cost of freight, increase in cross-border trades and increasing demand for freight rail network.

The report includes a comprehensive outlook on the North America Rail Freight Transportation Market offering forecasts for the industry segmented by Mode Of Transportation, which comprises freight cars, tank wagons, and intermodals. Additionally, it categorizes End-user into petroleum and chemical, coal, metals and minerals, agriculture products, and others. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.

What will be the size of the North America Rail Freight Transportation Market During the Forecast Period?

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North America Rail Freight Transportation Market: Key Drivers, Trends and Challenges

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key North America Rail Freight Transportation Market Driver

An increase in cross-border trades is notably driving market growth. Cross-border e-commerce is significantly high in countries such as the US and Canada. Canadian railways transported over 332 million tons of freight in 2020. Its railways help move approximately USD 200 billion in Canadian exports to North America - rail freight transportation markets and through a network of multimodal terminals such as rail, ship, and truck throughout the continent. The freight rail sector is the backbone of the Canadian economy, carrying more than USD 320 billion in commodities yearly through a coast-to-coast network.

Moreover, rail transported products worth USD 84 billion across the US-Mexico border in 2021, with over 246,000 loaded train containers crossing through the Laredo, Texas, port of entry. The Laredo rail crossing is the busiest on the border, with over 24 trains running daily in both directions. Therefore, increasing cross-border trades are expected to boost the growth of the market during the forecast period.

Key North America Rail Freight Transportation Market Trends

Increasing use of artificial intelligence (AI) in rail infrastructure technology is an emerging trend shaping the market growth. Advancements in rail infrastructure technology using artificial intelligence (AI) and the Internet of Things (IoT) have the potential to boost the growth of the North America - rail freight transportation market by increasing efficiency, reducing costs, and improving safety. Furthermore, the use of innovative technologies such as AI, machine learning, and machine vision for automating rail inspections has also increased in the US, with machine vision sensors and cameras installed on railcars or tracks used to inspect various components.

For instance, in 2020, the Federal Railroad Administration (FRA) updated rail integrity and track safety standards to reduce costs, improve data collection and analysis, and maintain integrity. The new regulations focus on developing innovative inspection methods and improving data quality, leading to the digital transformation of the rail industry across the region. Therefore, such development and advancement are anticipated to boost the growth of the market during the forecast period.

Major North America Rail Freight Transportation Market Challenge

Interoperability issues associated with rail transportation are a significant challenge hindering market growth. Interoperability refers to the ability of a rail system to allow safe and uninterrupted movement of trains between different places. Interoperability issues can be of three types such as operational interoperability, technical operability, and legal interoperability. The differences in the rail gauge are the most common operational interoperability issue that can hinder the movement of rail freight between different countries.

Moreover, challenges related to interoperability with other rail networks, particularly about the handling of intermodal traffic. Intermodal traffic involves the movement of shipping containers or trailers between different modes of transportation, such as from truck to rail or vice versa which may limit North America - rail freight transportation market growth. Thus, interoperability issues may hinder the growth of the market during the forecast period.

North America Rail Freight Transportation Market Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Rail Freight Transportation Market in North America Customer Landscape

Who are the Major North America Rail Freight Transportation Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Berkshire Hathaway Inc. - The company offers rail freight transportation solutions under the subsidiary of BNSF Railway for agriculture and consumer goods.

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

What is the Largest-Growing Segments in the North America Rail Freight Transportation Market?

The freight cars segment is estimated to witness significant growth during the forecast period. Freight cars such as boxcars, center beam cars, flat cars, gondola cars, and hoppers are used to transport goods such as coal products, forest products, metals and minerals, construction raw materials, and agricultural products for various end-user applications.

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The freight cars segment was the largest and was valued at USD 31.94 billion in 2018. Freight car manufacturing companies are highly focused on redesigning freight cars to increase the capacity and life span of containers, thereby enhancing the efficiency of transportation in a single trip and in the long run. This led to an increase in demand for new freight cars from end-user industries. Compared with other modes of transportation, rail freight transportation has a lower environmental impact, and it is 55% more fuel-efficient. In addition, opting for rail freight transportation will reduce road traffic congestion, which will reduce greenhouse gas emissions and environmental pollution. Thus, the freight cars segment will contribute to the growth of the market during the forecast period.

Segment Overview

The North America Rail Freight Transportation Market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.

Mode Of Transportation Outlook
- Freight cars
- Tank wagons
- Intermodals

End-user Outlook
- Petroleum and chemical
- Coal
- Metals and minerals
- Agriculture products
- Others

Rail Freight Transportation Market In North America Scope
Report Coverage	Details
Page number	160
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 7.45%
Market Growth 2024-2028	USD 35.83 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	7.75
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Berkshire Hathaway Inc., Brookfield Business Partners LP, Canadian National Railway Co., Canadian Pacific Kansas City, CSX Corp., DB Schenker, Deutsche Post AG, DSV AS, GeoMetrix Rail Logistics Inc., Grupo Mexico SAB de CV, Harsco Corp., Hub Group Inc., Kerry Logistics Network Ltd., Norfolk Southern Corp., Patriot Rail Co., RSI Logistics Inc., Union Pacific Corp., United Parcel Service Inc., VIA Rail Canada Inc., and WSP Global Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this North America Rail Freight Transportation Market Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the market between 2024 and 2028
Precise estimation of the market size and its contribution of the market in focus to the parent market
Accurate predictions about upcoming trends and changes in consumer behaviour
Growth of the market across North America
Thorough analysis of the market’s competitive landscape and detailed information about companies
Comprehensive analysis of factors that will challenge the growth of market companies

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Mode of Transportation
- Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 13: Market segments

3.3 Market size 2023

3.4 Market outlook: Forecast for 2023-2028
- Exhibit 14: Chart on North America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
- Exhibit 16: Chart on North America: Year-over-year growth 2023-2028 (%)
- Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)

4 Historic Market Size

4.1 Rail freight transportation market in North America 2018 - 2022
- Exhibit 18: Historic Market Size – Data Table on rail freight transportation market in north America 2018 - 2022 ($ billion)

4.2 Mode of Transportation Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size – Mode of Transportation Segment 2018 - 2022 ($ billion)

4.3 End-user Segment Analysis 2018 - 2022
- Exhibit 20: Historic Market Size – End-user Segment 2018 - 2022 ($ billion)

4.4 Geography Segment Analysis 2018 - 2022
- Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 22: Five forces analysis - Comparison between 2023 and 2028

5.2 Bargaining power of buyers
- Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028

5.3 Bargaining power of suppliers
- Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2023 and 2028

5.4 Threat of new entrants
- Exhibit 25: Threat of new entrants – Impact of key factors in 2023 and 2028

5.5 Threat of substitutes
- Exhibit 26: Threat of substitutes – Impact of key factors in 2023 and 2028

5.6 Threat of rivalry
- Exhibit 27: Threat of rivalry – Impact of key factors in 2023 and 2028

5.7 Market condition
- Exhibit 28: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Mode of Transportation

6.1 Market segments
- Exhibit 29: Chart on Mode of Transportation - Market share 2023-2028 (%)
- Exhibit 30: Data Table on Mode of Transportation - Market share 2023-2028 (%)

6.2 Comparison by Mode of Transportation
- Exhibit 31: Chart on Comparison by Mode of Transportation
- Exhibit 32: Data Table on Comparison by Mode of Transportation

6.3 Freight cars - Market size and forecast 2023-2028
- Exhibit 33: Chart on Freight cars - Market size and forecast 2023-2028 ($ billion)
- Exhibit 34: Data Table on Freight cars - Market size and forecast 2023-2028 ($ billion)
- Exhibit 35: Chart on Freight cars - Year-over-year growth 2023-2028 (%)
- Exhibit 36: Data Table on Freight cars - Year-over-year growth 2023-2028 (%)

6.4 Tank wagons - Market size and forecast 2023-2028
- Exhibit 37: Chart on Tank wagons - Market size and forecast 2023-2028 ($ billion)
- Exhibit 38: Data Table on Tank wagons - Market size and forecast 2023-2028 ($ billion)
- Exhibit 39: Chart on Tank wagons - Year-over-year growth 2023-2028 (%)
- Exhibit 40: Data Table on Tank wagons - Year-over-year growth 2023-2028 (%)

6.5 Intermodals - Market size and forecast 2023-2028
- Exhibit 41: Chart on Intermodals - Market size and forecast 2023-2028 ($ billion)
- Exhibit 42: Data Table on Intermodals - Market size and forecast 2023-2028 ($ billion)
- Exhibit 43: Chart on Intermodals - Year-over-year growth 2023-2028 (%)
- Exhibit 44: Data Table on Intermodals - Year-over-year growth 2023-2028 (%)

6.6 Market opportunity by Mode of Transportation
- Exhibit 45: Market opportunity by Mode of Transportation ($ billion)
- Exhibit 46: Data Table on Market opportunity by Mode of Transportation ($ billion)

7 Market Segmentation by End-user

7.1 Market segments
- Exhibit 47: Chart on End-user - Market share 2023-2028 (%)
- Exhibit 48: Data Table on End-user - Market share 2023-2028 (%)

7.2 Comparison by End-user
- Exhibit 49: Chart on Comparison by End-user
- Exhibit 50: Data Table on Comparison by End-user

7.3 Petroleum and chemical - Market size and forecast 2023-2028
- Exhibit 51: Chart on Petroleum and chemical - Market size and forecast 2023-2028 ($ billion)
- Exhibit 52: Data Table on Petroleum and chemical - Market size and forecast 2023-2028 ($ billion)
- Exhibit 53: Chart on Petroleum and chemical - Year-over-year growth 2023-2028 (%)
- Exhibit 54: Data Table on Petroleum and chemical - Year-over-year growth 2023-2028 (%)

7.4 Coal - Market size and forecast 2023-2028
- Exhibit 55: Chart on Coal - Market size and forecast 2023-2028 ($ billion)
- Exhibit 56: Data Table on Coal - Market size and forecast 2023-2028 ($ billion)
- Exhibit 57: Chart on Coal - Year-over-year growth 2023-2028 (%)
- Exhibit 58: Data Table on Coal - Year-over-year growth 2023-2028 (%)

7.5 Metals and minerals - Market size and forecast 2023-2028
- Exhibit 59: Chart on Metals and minerals - Market size and forecast 2023-2028 ($ billion)
- Exhibit 60: Data Table on Metals and minerals - Market size and forecast 2023-2028 ($ billion)
- Exhibit 61: Chart on Metals and minerals - Year-over-year growth 2023-2028 (%)
- Exhibit 62: Data Table on Metals and minerals - Year-over-year growth 2023-2028 (%)

7.6 Agriculture products - Market size and forecast 2023-2028
- Exhibit 63: Chart on Agriculture products - Market size and forecast 2023-2028 ($ billion)
- Exhibit 64: Data Table on Agriculture products - Market size and forecast 2023-2028 ($ billion)
- Exhibit 65: Chart on Agriculture products - Year-over-year growth 2023-2028 (%)
- Exhibit 66: Data Table on Agriculture products - Year-over-year growth 2023-2028 (%)

7.7 Others - Market size and forecast 2023-2028
- Exhibit 67: Chart on Others - Market size and forecast 2023-2028 ($ billion)
- Exhibit 68: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
- Exhibit 69: Chart on Others - Year-over-year growth 2023-2028 (%)
- Exhibit 70: Data Table on Others - Year-over-year growth 2023-2028 (%)

7.8 Market opportunity by End-user
- Exhibit 71: Market opportunity by End-user ($ billion)
- Exhibit 72: Data Table on Market opportunity by End-user ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 73: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Exhibit 74: Chart on Market share by geography - 2023-2028 (%)
- Exhibit 75: Data Table on Market share by geography - 2023-2028 (%)

9.2 Geographic comparison
- Exhibit 76: Chart on Geographic comparison
- Exhibit 77: Data Table on Geographic comparison

9.3 US - Market size and forecast 2023-2028
- Exhibit 78: Chart on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 79: Data Table on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 80: Chart on US - Year-over-year growth 2023-2028 (%)
- Exhibit 81: Data Table on US - Year-over-year growth 2023-2028 (%)

9.4 Canada - Market size and forecast 2023-2028
- Exhibit 82: Chart on Canada - Market size and forecast 2023-2028 ($ billion)
- Exhibit 83: Data Table on Canada - Market size and forecast 2023-2028 ($ billion)
- Exhibit 84: Chart on Canada - Year-over-year growth 2023-2028 (%)
- Exhibit 85: Data Table on Canada - Year-over-year growth 2023-2028 (%)

9.5 Mexico - Market size and forecast 2023-2028
- Exhibit 86: Chart on Mexico - Market size and forecast 2023-2028 ($ billion)
- Exhibit 87: Data Table on Mexico - Market size and forecast 2023-2028 ($ billion)
- Exhibit 88: Chart on Mexico - Year-over-year growth 2023-2028 (%)
- Exhibit 89: Data Table on Mexico - Year-over-year growth 2023-2028 (%)

9.6 Market opportunity by geography
- Exhibit 90: Market opportunity by geography ($ billion)
- Exhibit 91: Data Table on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges
- Exhibit 92: Impact of drivers and challenges in 2023 and 2028

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape
- Exhibit 93: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption
- Exhibit 94: Overview on factors of disruption

11.4 Industry risks
- Exhibit 95: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
- Exhibit 96: Vendors covered

12.2 Market positioning of vendors
- Exhibit 97: Matrix on vendor position and classification

12.3 Berkshire Hathaway Inc.
- Exhibit 98: Berkshire Hathaway Inc. - Overview
- Exhibit 99: Berkshire Hathaway Inc. - Business segments
- Exhibit 100: Berkshire Hathaway Inc. - Key news
- Exhibit 101: Berkshire Hathaway Inc. - Key offerings
- Exhibit 102: Berkshire Hathaway Inc. - Segment focus

12.4 Brookfield Business Partners LP
- Exhibit 103: Brookfield Business Partners LP - Overview
- Exhibit 104: Brookfield Business Partners LP - Business segments
- Exhibit 105: Brookfield Business Partners LP - Key offerings
- Exhibit 106: Brookfield Business Partners LP - Segment focus

12.5 Canadian National Railway Co.
- Exhibit 107: Canadian National Railway Co. - Overview
- Exhibit 108: Canadian National Railway Co. - Product / Service
- Exhibit 109: Canadian National Railway Co. - Key offerings

12.6 Canadian Pacific Kansas City
- Exhibit 110: Canadian Pacific Kansas City - Overview
- Exhibit 111: Canadian Pacific Kansas City - Product / Service
- Exhibit 112: Canadian Pacific Kansas City - Key offerings

12.7 CSX Corp.
- Exhibit 113: CSX Corp. - Overview
- Exhibit 114: CSX Corp. - Product / Service
- Exhibit 115: CSX Corp. - Key offerings

12.8 DB Schenker
- Exhibit 116: DB Schenker - Overview
- Exhibit 117: DB Schenker - Business segments
- Exhibit 118: DB Schenker - Key offerings
- Exhibit 119: DB Schenker - Segment focus

12.9 Deutsche Post AG
- Exhibit 120: Deutsche Post AG - Overview
- Exhibit 121: Deutsche Post AG - Product / Service
- Exhibit 122: Deutsche Post AG - Key news
- Exhibit 123: Deutsche Post AG - Key offerings

12.10 GeoMetrix Rail Logistics Inc.
- Exhibit 124: GeoMetrix Rail Logistics Inc. - Overview
- Exhibit 125: GeoMetrix Rail Logistics Inc. - Product / Service
- Exhibit 126: GeoMetrix Rail Logistics Inc. - Key offerings

12.11 Grupo Mexico SAB de CV
- Exhibit 127: Grupo Mexico SAB de CV - Overview
- Exhibit 128: Grupo Mexico SAB de CV - Business segments
- Exhibit 129: Grupo Mexico SAB de CV - Key offerings
- Exhibit 130: Grupo Mexico SAB de CV - Segment focus

12.12 Hub Group Inc.
- Exhibit 131: Hub Group Inc. - Overview
- Exhibit 132: Hub Group Inc. - Product / Service
- Exhibit 133: Hub Group Inc. - Key offerings

12.13 Norfolk Southern Corp.
- Exhibit 134: Norfolk Southern Corp. - Overview
- Exhibit 135: Norfolk Southern Corp. - Business segments
- Exhibit 136: Norfolk Southern Corp. - Key offerings
- Exhibit 137: Norfolk Southern Corp. - Segment focus

12.14 Patriot Rail Co.
- Exhibit 138: Patriot Rail Co. - Overview
- Exhibit 139: Patriot Rail Co. - Product / Service
- Exhibit 140: Patriot Rail Co. - Key offerings

12.15 RSI Logistics Inc.
- Exhibit 141: RSI Logistics Inc. - Overview
- Exhibit 142: RSI Logistics Inc. - Product / Service
- Exhibit 143: RSI Logistics Inc. - Key offerings

12.16 Union Pacific Corp.
- Exhibit 144: Union Pacific Corp. - Overview
- Exhibit 145: Union Pacific Corp. - Product / Service
- Exhibit 146: Union Pacific Corp. - Key offerings

12.17 VIA Rail Canada Inc.
- Exhibit 147: VIA Rail Canada Inc. - Overview
- Exhibit 148: VIA Rail Canada Inc. - Product / Service
- Exhibit 149: VIA Rail Canada Inc. - Key offerings

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist
- Exhibit 150: Inclusions checklist
- Exhibit 151: Exclusions checklist

13.3 Currency conversion rates for US$
- Exhibit 152: Currency conversion rates for US$

13.4 Research methodology
- Exhibit 153: Research methodology
- Exhibit 154: Validation techniques employed for market sizing
- Exhibit 155: Information sources

13.5 List of abbreviations
- Exhibit 156: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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