Railroads Market Growth Drivers, Vendor Landscape and Raw Material Outlook by 2030

Railroads Industry Overview

The global railroads market size is expected to reach USD 436.4 billion by 2030, exhibiting a CAGR of 4.4% during the forecast period, according to a new report by Grand View Research, Inc. Increased government investments in various countries to enhance railway infrastructure and create new lines, as well as the growing tourism industry in Asia Pacific and European countries, are important factors driving market expansion. Moreover, growing industrialization in underdeveloped and developing countries is likely to drive railroad demand throughout the forecast period.

The rail freight segment is predicted to grow significantly throughout the forecast period, owing to a growing reliance on rail routes for the transportation of goods and lower rail freight rates. Furthermore, a strong rail network facilitates the transportation of commodities to isolated places that are otherwise impossible to reach by air. The availability of less expensive alternatives for transporting large products or shipments is likely to boost rail freight demand in the coming years.

Railroads Market Segmentation

Grand View Research has segmented the global railroads market based on type, end use, and region:

Based on the Type Insights, the market is segmented into Rail Freight and Passenger Rail

• The passenger rail segment led the market with a share of 58.7% of the global revenue in 2021. The segment is projected to witness growth over the coming years as the tourism industry picks up speed thanks to inexpensive passenger train fares.
• Furthermore, increased investments in the expansion of passenger railroad networks and the introduction of newer and faster trains, like bullet trains and metros, are likely to propel segment growth.
• The rail freight segment has been witnessing steady growth owing to the growing reliance on railroad routes for the transportation of goods and lower rail freight rates.

Based on the End-use Insights, the market is segmented into Mining, Construction, Agriculture, and Others

• The agriculture segment held the largest share of 34.2% in the railroad market in terms of revenue in 2021. Stable and efficient railroad service is especially crucial for the agriculture industry.
• The mining segment is expected to register the fastest CAGR over the forecast period to overtake the agriculture segment in terms of market size by 2030.
• Monorail systems are being increasingly employed in coal and ore mines because of their efficiency and cheap running costs.

Railroads Regional Outlook

• North America
• Europe
• Asia Pacific
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market includes both international and domestic participants who focus on strategies such as innovation, mergers and acquisitions, and investments in technology, infrastructure, and expansions to enhance their position in the market.

Some prominent players in the global Railroads market include:

• Central Japan Railway Company
• SNCF Group
• Union Pacific Corporation
• OAO RZD (Russian Railways)
• BNSF Railway
• Indian Railways
• Deutsche Bahn
• JSC Russian Railways
• CSX Corporation

Order a free sample PDF of the Railroads Market Intelligence Study, published by Grand View Research.