YORK, Oct. 1, 2023 /PRNewswire/ -- The
North America railcar leasing
market size is expected to grow by USD 5.16 billion from 2022 to 2027.
However, the growth momentum of the market will progress at a
CAGR of 6.76% during the forecast period. The
market is segmented by product (freight cars, tank cars, and
locomotives) and end-user (petroleum and chemical, coal,
agricultural products, and others). The efficiency and
reliability of rail over road transport are key factors driving
market growth. Transporting goods by rail goes a long way in
reducing traffic congestion and carbon emissions. The rail network
allows customers to ensure on-time delivery of products thanks to
the network structure and consistent arrival and departure times.
Additionally, rail transport is cheaper than road transport,
causing many manufacturing companies to use freight trains instead
of road transport. For example, products such as oil, gas, cement,
chemicals, and other bulk goods are mainly transported by rail cars
instead of trucks due to low transportation costs and reliability
of the mode of transport. Hence, these factors are expected to
drive market growth during the forecast period. The report
analyses the market size and growth and provides accurate
predictions on the growth of the market. View a Free PDF
- The report recognizes the following as some of the key players
in the railcar leasing market in North
America: American Industrial Transport Inc., Arrendadora
Nacional de Carros de Ferrocarril S.A. de C.V., Berkshire Hathaway
Inc., Everest Railcar Services Inc., First Citizens Bancshares
Inc., GATX Corp., GLNX Corp., Herzog Contracting Corp., HiRail
Leasing, Mitsui and Co. Ltd., Nucor Corp., PFL Petroleum Services
LTD., RESIDCO, RTEX Rail, Sasser Family Companies, Stonebriar
Commercial Finance, Sumitomo Mitsui Financial Group Inc., Trinity
Industries Inc., VTG GmbH, and Wells Fargo and Co.
- Railcar Leasing Market in North
America is fragmented in nature.
- Market to observe 6.58% YOY growth in 2023.
- The application of advanced coatings on railcars is a major
trend in the market.
- Railcars are susceptible to wear and tear, especially over
extended periods of use, and there are many different factors that
contribute to their deterioration.
- Furthermore, causes of their deterioration include reactions
between the rolling stock and its contents, as well as the effects
of climate change.
- It is essential that the coating applied to these rail cars
meet certification standards set by regulatory agencies such as the
Food and Drug Administration (FDA) and the National Science
- Tank cars, in particular, are susceptible to damage because
they carry crude oil and its various derivatives, which can easily
react with metal surfaces, thereby leading to wear.
- Hence, these factors are expected to drive market growth during
the forecast period.
- The risks associated with railcar leasing are significant
challenges restricting market growth.
- Renting a railcar involves two significant risks technological
advances and reduced residual values of railcars.
- The rental period for rail cars is usually determined by the
operators and is generally relatively short. As technology
advances, newer and more efficient railcar models are introduced,
making older versions obsolete once their lease periods
- Additionally, the residual value of a rail car will decrease as
it goes through multiple rental cycles. railcars rented for long
periods of time tend to have a lower market value than new models
introduced to the market every year.
- Hence, these factors are expected to restrict market growth
during the forecast period.
The report also covers information on upcoming trends and
challenges. Explore detailed information by purchasing a
- The market share growth by the freight cars segment will
be significant during the forecast period. Freight vehicles are
used for the transport of goods, e.g. coal, forest products, metal,
and minerals, or the production of crops. Freight car manufacturing
companies are focusing a lot on redesigning freight cars to
increase container capacity, thereby improving transportation
efficiency during a trip. This has increased the demand for new
freight cars from many different end-user industries. In addition,
freight cars include open cars, covered cars, flat cars, and
sliding-wall freight cars. Based on the material that must be
transported, it is decided which freight cars shall be used.
Another type of transport vehicle is the covered hoppers that are
mainly used for transporting cement, frac sand, and coal.
Hence, these factors are expected to drive segment growth during
the forecast period.
Get a glance at the market contribution of the
segments, Request a Free Sample
The Rail Wheel Market size is estimated to grow at a CAGR
of 5.27% between 2022 and 2027 and the size of the market is
forecast to increase by USD 1,203.58
The Railcar Leasing Market size is estimated to grow at a
CAGR of 7.12% between 2022 and 2027 and the size of the market is
forecast to increase by USD 18,365.83
Market Scope in North America
Growth momentum &
Accelerate at a CAGR of
YoY growth 2022-2023
Market Positioning of Companies, Competitive Strategies, and
Transport Inc., Arrendadora Nacional de Carros de Ferrocarril S.A.
de C.V., Berkshire Hathaway Inc., Everest Railcar Services Inc.,
First Citizens Bancshares Inc., GATX Corp., GLNX Corp., Herzog
Contracting Corp., HiRail Leasing, Mitsui and Co. Ltd., Nucor
Corp., PFL Petroleum Services LTD., RESIDCO, RTEX Rail, Sasser
Family Companies, Stonebriar Commercial Finance, Sumitomo Mitsui
Financial Group Inc., Trinity Industries Inc., VTG GmbH, and Wells
Fargo and Co.
Parent market analysis,
Market growth inducers and obstacles, Fast-growing and slow-growing
segment analysis, COVID-19 impact and recovery analysis and future
consumer dynamics, and Market condition analysis for the forecast
If our report has not
included the data that you are looking for, you can reach out to
our analysts and get segments customized.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-User
Market Segmentation by Geography
Drivers, Challenges, & Trends
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