How Is The Tracking Technology Effective For The Rail Freight Industry?

Company’s Rail Freight Market Report 2021 - COVID-19 Impact and Recovery

Company’s Rail Freight Global Market Report 2021 – COVID-19 Impact and Recovery

The Business Research Company’s Rail Freight Global Market Report 2021 – COVID-19 Impact and Recovery

LONDON, GREATER LONDON, UK, November 23, 2021 / — 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.

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The global rail freight market 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 of the rail freight market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The rail freight market is expected to reach $351.00 billion in 2025 at a CAGR of 7%.

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Major players covered in the global rail freight market are CN Railway, SBB Cargo, SNCF, DB Schenker, Duetsche Bahn AG.

Asia Pacific was the largest region in 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. Middle East was the smallest region in the global rail freight market.

TBRC’s global rail freight market report is segmented by type into intermodals, tank wagons, freight cars, by destination into domestic, international, by application into oil and gas, mining industry, logistic industry, post service, others, by freight type into containerized, liquid, commodities, others.

Rail Freight Global Market Report 2021 – By Type (Intermodals, Tank Wagons, Freight Cars), By Destination (Domestic, International), By Application (Oil and Gas, Mining Industry, Logistic Industry, Post Service), By Freight Type (Containerized, Liquid, Commodities), COVID-19 Impact and Recovery is one of a series of new reports from The Business Research Company that provides rail freight market overview, forecast rail freight market size and growth for the whole market, rail freight market segments, and geographies, rail freight market trends, rail freight market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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Here Is A List Of Similar Reports By The Business Research Company:

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Source: EIN Presswire