Tracking and tracing systems of rail freight using GPS and GSM helps the transportation organizations to overcome the rail freight transportation drawbacks such as lost and theft. It provides full-fledged security and monetarization of freights and more effective and efficient freight transportation over short distances for smaller loads. ViWaS project equipped with smart telematics systems in Europe has introduced tracking technology in rail freight.
THE BUSINESS RESEARCH COMPANY VALUED THE RAIL FREIGHT TRANSPORTATION GLOBAL MARKET AT $270 BILLION IN 2017
Asia Pacific was the largest geographic region in the market, accounting for nearly half of the global market. China was the largest country accounting for nearly one-fifth of the global rail freight transportation market.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, rail transportation companies are using alternative energy sources to operate their rolling stock and stations. Alternatives for diesel include hydrogen and LNG (already being tested by some rail operators) that can be used to power trains. The use of alternative energy sources is primarily driven by growing environmental concerns due to climate change and rising fears of energy security. For instance, The Netherlands’ national railway company Nederlandse Spoorwegen (NS) and electricity company Eneco is running all its trains on wind energy, since January 2017.
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Canadian National Railway was the biggest player in the rail freight market, with revenues of $11.3 billion in 2016. CN Railway’s growth strategy aims at providing integrated transportation services such as rail, intermodal, trucking, and supply chain. It also aims at diversified and balanced portfolio of goods including petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal and automotive.
The rail freight market is segmented into Intermodals; Tank Wagons; and Freight Cars.
Intermodal freight transport services segment involves the transportation of freight in an intermodal container through rail transportation. In this mode, handling of the freight is not done manually when changing a rail carrier, thus increasing the security of transported product substantially.
Tank Wagons are a type of railroad cars or rolling stock that are designed to transport liquid and gaseous commodities on rail transport system.
Freight Cars are a type of railroad cars or rolling stock that are designed to transport goods on a rail transport system.
Rail Freight Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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