Freight Railcar Parts Market 2022-2030; Growth Forecast & Industry Share Report

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Freight Railcar Parts Market Forecasts Study
2030 Business Opportunities and Future
Investments
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• Industry Insights

• As per a recent study by Global Market Insights
  Inc., the global freight railcar parts market
  share could be worth USD 15 billion by 2030.
• The worldwide freight railcar parts market may
  register notable progression over the forthcoming
  years. Rail freights are an efficient, reliable,
  capable, more environmentally friendly, and
  cost-effective alternative to road transport. The
  increased adoption and utilization of freight
  cars or goods cargos for loading and hauling bulk
  commodities such as automobiles and components,
  equipment, construction materials, agriculture
  and energy products, chemicals, food, minerals,
  metals, paper, pulp, etc. over long distances may
  have an optimistic impact on the industry growth
  in the forthcoming years.
• Over the last few years, there has been a
  significant rise in oil fuel import and export
  activities. Governments across several economies
  are making efforts to improve their
  infrastructure for high-speed and freight trains
  by introducing investor-friendly policies and
  initiatives. This has encouraged players across
  the globe to make hefty investments to aid the
  expansion of freight car fleet scope and increase
  business productivity across large cities.

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• The rapid expansion of the railway infrastructure
  coupled with the rollout of the supportive
  government policy framework and escalating
  investments from major industry participants has
  stimulated the industry landscape.
• As per the latest IBEF report, the railway sector
  in India has experienced strong revenue growth,
  reaching USD 23.3 billion valuation mark by March
  2022. Freight remains the pivotal revenue-earning
  segment, accounting for USD 17.68 billion,
  registering almost 21.8 year-on-year growth.
• These optimistic scenarios point toward the
  fast-paced development of railway infrastructure
  across developed and developing economies. This,
  in addition to increasing technological
  advancements and extending public-private
  partnerships, may significantly push the freight
  railcar parts market forecast.

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• Regional Analysis

• North America may account for a considerable
  revenue share due to the continuous proliferation
  of freight rail networks and increasing crude oil
  and petroleum imports and exports across the US.
  As per the Overview of America's Freight
  Railroads 2020, the US freight rail industry is
  worth almost USD 80 billion. As the repair and
  maintenance of these railroads are handled by
  private organizations, it has substantially
  stimulated the industry share.
• As per the US Energy Information Administration,
  the US imported nearly 8.47 million exported
  roughly 8.63 million barrels per day of petroleum
  in 2021. The country further imported crude oil
  products from other economies to help maintain
  demand and supply across domestic and
  international markets.

• Competitive Analysis

• FreightCar America Inc.
• Penn Machine Company
• Greenbrier Companies
• Trinity Industries Inc.
• Wabtec Corporation

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