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DUBLIN, April 19, 2023 /PRNewswire/ — The “Rail Transportation: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Rail Transportation Market to Reach $692.2 Billion by 2030
The global market for Rail Transportation estimated at US$457 Billion in the year 2022, is projected to reach a revised size of US$692.2 Billion by 2030, growing at a CAGR of 5.3% over the analysis period 2022-2030.
Passenger, one of the segments analyzed in the report, is projected to record 5.9% CAGR and reach US$377.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Freight segment is readjusted to a revised 4.6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $105.4 Billion, While China is Forecast to Grow at 6.9% CAGR
The Rail Transportation market in the U.S. is estimated at US$105.4 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$124.1 Billion by the year 2030 trailing a CAGR of 6.9% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 5.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet.
Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on…
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