Freight Wagons Market: Introduction
Freight Wagons are the unpowered railway vehicles that are utilized for the transportation of goods through railway network. Transportation through freight wagons are more economical as compared to road transportation. The load carrying capacity of freight wagons is high and also ease to operate for loading and unloading the goods. There are different type of freight wagons are available for different applications such as hopper wagons are for fertilizer and grains, open-top wagons, covered wagons for steel, coal, ore and timber, flat wagons, double-deck container flat wagons & tank wagons are for all types of chemicals & liquids. These all freight wagons designed in an economical way that they have great loading capacity and simple handling. Now a days, the manufacturers of freight wagons are focusing on developing high loading capacity wagons that are more durable, reliable and light in weight.
Freight Wagons Market: Dynamics
Railways are an integral part of the goods transportation system across the globe and will play a key role in future due to increasing import-export trade across the nations and also the changing mode of private transportation to public transportation around the globe. These factors are estimated to accelerate the growth of the freight wagons market over the assessment period. In urban economies, governments are focusing on investing hefty money to promote the introduction of large-scale transport infrastructure, which in turn is expected to propel the demand for new freight wagons.
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Government investments on railways will directly increase the demand for freight wagons and will boost the growth of global freight wagons market. Moreover, the increase in demand for energy goods such as coal and gasoline will propel the demand for flat & tank wagons which in turn positively effect on the growth of freight wagons market. In addition, transportation of bulk commodities such as coal and other mineral ores by inland railways from mines to power generation and metallurgical facilities is a critical requirement which incorporates the use of railways as an optimal choice. The large capacity of railway wagons laden with economic transportation costs makes freight wagons the preferred choice by the end use sectors.
The rise in water based logistics activities in the recent past has led to increase seaborne trade and the several nations around the globe are shifting their focus to enhance its international business through marine transport. These factors are expected to hamper the growth of the freight wagons market over the forecast period.
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Freight Wagons Market: Segmentation
The global Freight Wagons market can be segmented on the basis of wagons type and material
On the basis of wagons type, Freight Wagons market can be segmented as:
- Covered Wagons
- Flat Wagons
- Tank Wagons
- Open-top Wagons
- Side Dump Wagons
- Hopper Wagons
- Special Wagons
On the basis of material, Freight Wagons market can be segmented as:
- Cast Iron
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Freight Wagons Market: Regional Outlook
Europe and North America are projected to witness healthy growth in the nearby future. Positive economic growth expectation from developing countries of Latin America is projected for a significant growth due to improving infrastructure of the region. Increasing awareness regarding public transportation in the developing regions such as China, India is one of the key factor for the growth of Freight Wagons market. China and India are expected to hold significant share in the freight wagons market owing to widespread and longest railway network.
The rail networks of China and India are among the biggest railway networks in the world. In India, rolling stocks is one of primarily used mode of transportation for long distance and with the developing infrastructure of the country, the demand for new wagons also increased which in turn, is expected to fuel the growth of the freight wagons market over the forecast period. Furthermore, developed region such as Japan is estimated to hold significant share in the freight wagons market due to high awareness regarding public transportation.
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