Tank Car Market Outlook :
The tank car is also called a rail wagon. The railroad cars are of two types namely tank cars and freight cars. The railroad tank cars are constructed and are designed for the transportation of commodities such as gas and liquid. The key advantage for the railroad tank car operators is the customization of rail wagons based on the requirements such as size or capacity, interior coating and material type for long-distance transportation. The railroad tank cars are available in various volume capacities from 50 to 200 cubic meters. The manufacturers from Asia are expected to enhance their fleet capacity in the forecast period due to driving demand for liquefied gases in most developing countries. Hence, the increasing cost advantages offered with railcar transportation of goods is anticipated to be the major driver for the railcar leasing market and is increasingly being used by numerous industry sectors. The market is expected to further grow in the forecast period.
COVID-19 scenario analysis:
- The train became one of the major aspects of the fight against the coronavirus, many trains organizations in various countries have turned bogies into quarantine hospitals.
- The market will show tremendous growth after the lockdown is over, as the government is going to introduce many more new projects to maintain social distancing.
- The trains as public transport will be more into trend after the lockdown, as people will be more concerned about safety and security as well as for the clean air in the bogies
- The production has been shut down of new bogies which will impact the profitability of the market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Some of the factors that boost DRIVER are expected to spur the demand over the forecast period. However, the leasing of railroad tank cars for export and import activities is anticipated to hamper the growth of the market. Furthermore, the reduction in the newly built as the service companies are looking for cost optimization. But, the number of projects related to retrofitting is gaining momentum are expected to offer lucrative opportunities for the market in the forecast period.
The tank car market trends are as follows:
Deploying new railroad tank car for services in the developing economies
Compare to the cost of any alternative travel, trains are the most popular option when it comes to cost. In addition, the developments in railroad tank cars that are insulated as it is incorporated with refrigeration or heating systems are driving the global railroad tank car market. Hence, for common people in the country, the most preferred choice is always training to travel. Moreover, manufacturers of these modules are specialized to design systems in such a manner that they are not only boosting the operating expense of trains majorly, and this is often expected to drive the tank car market in the forecast period.
Governments strengthening their railway network by investing
As the population is increasing at a very high rate, the local transportation demand is also increasing at a very high rate. In the forecast period, the adoption of fleet utilization in the developed and developing economies will drive the global railroad tank car market. Moreover, the governments of major developing countries are investing huge amounts in strengthening their railway networks across their respective countries. Now with these huge investments are made into developing the rail network, it is expected to boost the tank car market as well in the forecast period.
Key benefits of the report:
- This study presents the analytical depiction of the tank car market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the tank car market share.
- The current market is quantitatively analyzed to highlight the tank car market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed tank car market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the tank car market research report:
- What are the leading market players active in the tank car market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Tank Car Market Report Highlights
Key Market Players
Caterpillar, Kelso Technologies, American Railcar Industries, National Steel Car, Japan Oil Transportation, Trinity Industries, Om Besco Rail Products, Union Tank Car Company, GATX, Procor Limited