LONDON--(BUSINESS WIRE)--The global railcar leasing market is expected to post a CAGR almost 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Factors such as cost advantages of railcar leasing, rising need for railcars, and increasing rail logistics activities are encouraging leasing companies to increase funding for well-maintained quality railcars. Leasing equipment enables end-users in the market to use the latest equipment and technologies without incurring a huge cost. Moreover, railcar leasing is gaining prominence with the increasing developments in railway infrastructure in emerging economies including Brazil, Russia, China, Indonesia, and India. Thus, the cost advantages offered by railcar leasing will boost the growth of the railcar leasing market during the forecast period.
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As per Technavio, the advances in railcar systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Railcar Leasing Market: Advances in Railcar Systems
Monitoring systems including IoT and intelligent systems including telematics help in storing and processing the data received through various sensors attached to the railcars. In addition, these integrated systems ensure safe and reliable transportation of goods by identifying unauthorized access to the doors. Furthermore, railcar systems with integrated conditioning systems monitor the distance covered and conditions of railcars during transportation. This helps the manufacturers in planning the maintenance work to ensure the efficient functioning of the railcar. Thus, with the innovations in design and the integration of intelligent systems in freight cars, the market for railcar leasing is expected to showcase a positive outlook during the forecast period.
“Apart from the advances in railcar systems, cost advantages of railcar leasing coupled with rising global crude oil and energy consumption are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Railcar Leasing Market: Segmentation Analysis
This market research report segments the global railcar leasing market by type of railcar (freight cars, tank cars, and locomotives) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2018, followed by APAC, Europe, MEA, and South America respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market. This is due to the increasing efficiency of rail networks and growing demand for rail freight logistics in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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