According to the latest market research study by Technavio, the railcar leasing market in North America is expected to grow at a CAGR of over 9% during the forecast period 2017 to 2021.
This report by Technavio provides a comprehensive examination of the railcar leasing market in North America in terms of revenue and developing market trends. The report also contains an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the mode of transportation
Railcar leasing market by freight cars: The increasing demand for covered hoppers due to the rise in the transportation of cement, coal, and frac sand will fuel the growth of freight cars in the North American market. The transportation of goods in rail freight cars primarily include bulk goods such as coal, forest products, metals and minerals, and agricultural produce. The US is the primary consumer of these railcars in North America. The vendors in the market are investing in redesigning freight cars to increase capacity, so as to transport high volumes of goods in a single trip, thus increasing the efficiency of each container.
“The manufacturers are redesigning railcars to increase the weight capacity of the freight cars from 2,200 tons to 3,600 tons. The use of technology will help vendors to introduce more efficient freight cars and thus, increase their revenues. The different type of freight transportation available in the market includes flat cars, open cars, box cars, and sliding wall freight cars,” says Sharan Raj, a lead analyst at Technavio for research on logistics.
Railcar leasing market in North America by tank cars: The extensive use of tank cars for the transportation of oil, petroleum, and natural gas products such as crude oil, natural gas, and flammable liquids will fuel the growth of this market segment. The different types of tank cars available in the market are general service tank cars/low-pressure tank cars, high-pressure tank cars, and special/cryogenic tank cars. The vendors are offering full-service lease that covers costs related to changes, modifications, and maintenance of equipment to attract more consumers and increase their profitability.
Railcar leasing market in North America by locomotives: The various locomotives that are leased in the market can transit through regional and short lines, Class I railways and industrial lines. The primary types of railcars that are leased in North America include six axle road locomotive and four axle road locomotive. The vendors are offering services such as technical support, maintenance, and labor management to help the end-users.
The top retailers functioning in the railcar leasing market in North America are:
- GATX
- Trinity Industries
- CIT
- American Railcar Industries
The other prominent vendors in the market comprise of C.K. Industries, Chicago Freight Car Leasing, Compass Capital, Connell Finance Company, Wells Fargo Rail, GLNX, Greenbrier Leasing, Helm Financial, Herzog Railroad Services, Infinity Rail, Kasgro Rail, Mitsui Rail Capital, The Andersons, and VTG Rail.
A more detailed analysis is available in the Technavio report titled, ‘Railcar Leasing Market in North America 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Rail Freight Transportation Market in Europe 2017-2021
- Global Rail Logistics Market 2017-2021
- Global Smart Railways Systems Market 2016-2020
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