LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global rail freight industry and the industry is poised to experience spend growth of more than USD 60 billion between 2019-2024 at a CAGR of more than 4% during the forecast period. Request Free Sample Pages.
Read the 143-page research report with TOC and LOE on "The Global Rail Freight Industry – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, top suppliers, supplier selection and negotiation strategies, and insights into best practices to optimize procurement spend.”
Despite coal and crude continue constituting the major parts of cargo ferried via railways, the gradual shift of consumers towards renewable energy sources and their preference towards sustainable vehicles that utilize electric energy are inhibiting demand growth in the rail freight industry.
In North America, the increase in oil and gas production is increasing buyers’ reliance on rail freight services to ferry crude oil and gas. This is driving spend growth in the rail freight industry in this region. Europe is witnessing a steady growth in the spend momentum because of the intra-European freight movement, innovations by service providers to increase efficiency, and the rise in the volume of rail freight between China and Europe.
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The Top Rail Freight Service Providers Enlisted in this Report:
Frequent fluctuations in energy prices are propelling service providers’ OPEX which is compelling them to increase their service charges. On this note, this report has listed the top rail freight service providers, SLA agreement insights, and the selection and negotiation strategies that buyers must undertake to achieve optimal and cost-effective procurement in this industry. Insights into some of the service providers are given below:
SNCF Group- Employee cost is serving as another major cost accelerator in this industry which is propelling service providers’ OPEX at a significant rate. To tackle this increasing OPEX, service providers such as SNCF Group are exploring the possibilities of investing in autonomous trains that can run without locomotive pilots. SNCF Group had pledged to invest USD 65 million in 2018 for the development of autonomous trains in partnership with other service providers and a major rail technology company.
BNSF Railway Co- BNSF invested USD 45 million in 2018 in the electrification of trucks, cranes, loaders, and trains as part of its green initiatives. It is among those service providers that are known to invest in the reduction of emissions from trains to avoid penalties related to nonadherence to US emission standards for railway locomotives.
Union Pacific Railroad Co- In 2018, Union Pacific adopted UAVs to monitor infrastructure condition and for maintenance operations. Such investments in automation technologies will reduce manual errors, improve service quality, and mitigate the impact of the rise in labor costs.
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Some of the key topics covered in this report are:
- Rail freight industry spend segmentation by region
- Rail freight supply market analysis
- Regional spend opportunity for rail freight service providers
- Rail freight service providers cost structure
- Total cost of ownership analysis in the rail freight industry
- Rail freight pricing models analysis
- Category management objectives
- Cost saving opportunities in the rail freight industry
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