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.
About The Business Research Company
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globally. It has specialist consultants in a wide range of industries including
manufacturing, healthcare, chemicals and technology.
The Business Research Company's
management has more than 20 years of varied business research experience. They
have delivered hundreds of research projects to the senior management of some
of the world's largest organizations.
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