How is Tracking Technology Effective for the Rail Freight Industry?
The Business Research Company Global Rail Freight Market Report 2021 – Impact and Recovery of COVID-19
LONDON, GREATER LONDON, United Kingdom, 23 November 2021 /EINPresswire.com/ – Rail freight tracking and tracing systems using GPS and GSM help transport organizations overcome the disadvantages of rail freight transport such as loss and theft. It offers full-fledged freight security and monetization and more efficient and effective freight transport over short distances for smaller loads. The ViWaS project equipped with intelligent telematics systems in Europe introduced tracking technology in rail freight.
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The Global rail freight market The size is expected to grow from $ 247.39 billion in 2020 to $ 271.87 billion in 2021 at a compound annual growth rate (CAGR) of 9.9%. The growth in the rail freight market is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of commercial activities which resulted in challenging operations. The rail freight market is expected to reach $ 351.00 billion in 2025 at a CAGR of 7%.
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The main players in the global rail freight market are CN Railway, SBB Cargo, SNCF, DB Schenker, Duetsche Bahn AG.
Asia-Pacific was the largest region of the global rail freight market, accounting for 42% of the market in 2020. North America was the second largest region, accounting for 26% of the global rail freight market. The Middle East was the smallest region in the world rail freight market.
TBRC Global Rail Freight Market report is segmented by Type into Intermodal, Tank Cars, Freight Cars, by Destination in Domestic, International, by Application in Oil & Gas, Mining Industry, Industry logistics, postal service, others, by type of containerized freight, liquid, raw materials, others.
Global Rail Freight Market Report 2021 – By Type (Intermodal, Tank Cars, Freight Wagons), By Destination (Domestic, International), By Application (Oil & Gas, Mining Industry, Logistics Industry, Postal Service), By Cargo Type (Container, Liquid, Commodities), COVID-19 Impact and Recovery is part of a series of new reports from The Business Research Company that provides Rail Freight Market Overview, Size and Growth Forecast Rail freight market for the entire market, rail freight market segments and geographies, rail freight market trends, rail freight market drivers, restraints, revenue, profiles and market shares of major competitors .
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