Railcar Leasing Market in Europe to Grow at a CAGR of More Than 4% Through 2021: Technavio
Technavio
analysts forecast the railcar
leasing market in Europe to reach USD 3.93 billion during
the forecast period, according to their latest report.
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Technavio has published a new report on the railcar leasing market in Europe from 2017-2021. (Graphic: Business Wire)
The research study covers the present scenario and growth prospects of
the ‘Railcar
Leasing Market in Europe for 2017-2021’. The report further
segments the market based on application, including freight cars, tank
wagons, and intermodal.
The railcar leasing market in Europe is showing steady growth as it is a
sustainable and reliable mode of transportation. Tax benefits and
considerations extended to the lessee, by the lessor, is a
cost-effective method of financing equipment. Rail operators enter lease
agreements since they reduce capital expenditure and other credits that
can be allocated for other purposes. Also, it eliminates the risk of
equipment degeneration that could lead to reduced resale value.
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Technavio analysts highlight the following three factors that are
contributing to the growth of the railcar leasing market in Europe:
-
Growth in oil, gas, and mining industry
-
Increased funding by the European Commission
-
Liberalization of rail industry in Europe
Growth in oil, gas, and mining industry
The railcar market in Europe will be primarily driven by the oil and gas
industry, which accounted for 36.18% freight volume share in 2016. The
production of primary energy, such as oil, natural gas, and nuclear fuel
(uranium), accounted for over 800 million tonnes in 2016.
According to Sharan Raj, a lead logistics
research analyst from Technavio, “The growth in consumption and
production of primary and secondary energy in Europe will drive the
market for the oil and gas industry. Development in the oil and gas
industry will drive the growth of the railcar leasing market in Europe.”
Increased funding by the European Commission
Since the year 1990, there has been a significant increase in the
government funding in the European railway industry. For example, in
Switzerland, two-third of the revenue from the heavy vehicle fee is
designated for rail investments. For encouraging the movement of freight
by rail, governments provide freight grants to the railway industry.
“European Commission launched a public-private partnership called
Shift2Rail in the year 2013, where the commission planned to invest more
than USD 480 million during the forecast period, toward research,
innovation, and advancing the rail infrastructure. This will include
intelligent traffic management and control systems, and innovative IT
and inter-modal freight solutions,” adds Sharan.
Liberalization of rail industry in Europe
Monopoly control and the difference in policy regulations from region to
region has been the main reason behind the strict freight transport
regulation. The regulations mainly included fixing tariffs that are laid
down by public authorities and haulage committees; setting up licenses
for new entrants in the market (setting quality and quantity
restrictions); working conditions, which include driving time and labor
wage; and maintaining proper operating standards for vehicles, which
include industry measures, access to tracks, and speed.
Top vendors:
-
Beacon Rail Leasing
-
GATX Corporation
-
Touax Rail
-
VTG
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
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