Rail stations are evolving from a traditional transit facility to a facility offering leisure and entertainment services. Some of the services offered by rail transportation companies include automated ticketing, helipads and facilities with ergonomic design. Rail stations also serve as a crucial link between commercial, leisure and residential spaces, and are thus redeveloped to generate additional revenues for rail operators. For instance, in 2017, the redevelopment of Darlington station was announced in the UK. The new station is expected to have 98,500 square meters of commercial space providing over 3,000 direct and indirect jobs, and additional revenues to its operators. These redeveloped stations will offer digital signage, escalators and elevators, self-ticketing counters, executive lounges, luggage screening machines, walkways and holding areas for passengers.
THE BUSINESS RESEARCH COMPANY EXPECTS THE GLOBAL RAIL TRANSPORTATION MARKET TO GROW TO $660 BILLION BY 2021
Asia Pacific was the largest region in the rail transportation market in 2017, accounting for half of the market share. This is mainly due to a large population and fairly well-developed rail network in countries such as China and India. In addition to this, transportation of coal, minerals, steel, fertilizers, chemicals, petroleum products by rail has increased the market growth in Asia Pacific region.
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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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China Railway Corporation was the largest competitor in the rail transportation market, with revenues of $136.6 billion for the financial year 2016. China Railway Corporation aims to expand its network within and outside of China by forming strategic partnerships and increasing investments. In 2016, China Railway Corporation entered into a collaboration with MTR, a Hong Kong-based transport operator to explore opportunities in high-speed railway line construction, rail operations and staff training. The company has also planned to invest $115 billion in 2017, for track-doubling, electrification and construction of new high-speed railway lines.
The rail transportation market is segmented into Freight and Passenger Transportation.
Freight Transportation includes organizations the provide rail car services for passenger, freight and military use. These railcars include gondolas, tank cars, flatcars, refrigerator cars, covered hoppers and intermodal cars.
Passenger Transportation includes organizations that operate railroads worldwide. These include large railroads and regional and local line-haul railroads that carry passengers.
Rail Transportation Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $6000 for an individual user. To use across your office, the price is $9000 and $12000 if you wish to use across a multinational company.
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