Product ID: UCMIG20U2010
Report ID:
UCMIG20U2010 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global freight wagon market, with a valuation of USD 13.48 billion in 2022, is expected to experience growth, reaching USD 18.06 billion by 2030, projecting a compound annual growth rate (CAGR) of 4.08% throughout the forecast period, starting from USD 13.65 billion in 2023. Freight wagons, also referred to as goods wagons, are non-powered railway vehicles designed for transporting cargo and goods. These wagons serve various purposes, such as open wagons for coal transportation, tank wagons for chemicals, and hopper wagons for the movement of food, grain, and coal. Increasing traffic congestion on both intercity and urban highways is driving transportation planners at the state and regional levels to consider a shift towards alternative freight transportation methods, potentially moving from road-based to rail-based solutions to alleviate roadway congestion.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Railroads by segment aggregation, the contribution of the Railroads in Transportation and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG20U2010