Railcar Leasing Market in North America 2019-2023| Integration of Intelligent Systems Drives Growth| Technavio
Technavio’s research report on the railcar leasing market in North
America projects the market to grow at a CAGR of almost 7% during
the forecast period.
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Technavio has released a new market research report on the railcar leasing market in North America for the period 2019-2023. (Graphic: Business Wire)
The integration of intelligent systems in freight cars will be one of
the major trends in the railcar
leasing market in North America during 2019-2023. The
modern freight cars are integrated with intelligent systems such as
telematics and IT monitoring systems that help in storing and processing
the data received through various sensors attached to the railcars.
These integrated systems also assist in determining unauthorized access
to doors. This ensures safe and reliable transfer of goods.
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market snapshot before purchasing
According to Technavio analysts, one of the key drivers for the railcar
leasing market in North America is the increasing demand for tank cars
due to growing crude oil production:
Railcar leasing market in North America:
Increasing demand for tank cars due to growing crude oil production
The tank cars contribute a significant share to the railcar leasing
market. They are used to transport crude oil and gasoline products.
During the last six years, the crude oil production has increased in
North America, particularly the US. This is due to the increasing
automotive sales and new oil exploration projects in the region.
According to a senior analyst at Technavio for research on logistics,
“There will be an increase in the production of refined products such as
gasoline due to the increasing crude oil production. The demand for tank
cars has increased in North America over the last few years due to the
rise in the production of flammable products. The tank cars carrying
flammable and toxic materials must be manufactured as per Federal Road
Administration regulations due to which many manufacturers prefer
leasing of rail cars for crude oil transportation.”
Railcar leasing market in North America:
Segmentation analysis
This research report on the railcar leasing market in North America
provides market segmentation by end-user (petroleum and chemical, coal,
agricultural products, and others), by product (freight cars, tank cars,
and locomotives), and by region (the US and rest of North America). This
report provides an in-depth analysis of the prominent factors
influencing the market, including drivers, opportunities, trends, and
industry-specific challenges.
Of the three major end-users, the petroleum and chemical segment held
the largest railcar leasing market share in 2018, contributing to nearly
30% of the market. This end-user segment will dominate the global market
throughout the forecast period.
The US region held the largest share of the market in 2018, accounting
for close to 66% share. The region is expected to grow at a CAGR of
approximately 7% during the period 2019-2023.
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Some of the key topics covered in the report include:
Market Landscape
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Market ecosystem
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Market characteristics
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Market segmentation analysis
Market Sizing
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Market definition
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Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Regional comparison
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Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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Vendors covered
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Vendor classification
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Market positioning of vendors
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Competitive scenario
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