North America Rail Infrastructure Market Size Worth USD 162.72 Billion by 2029 at a CAGR of 4.52%
North America Rail Infrastructure Market to Surge Substantially; Rising Adoption of IoT and Artificial Intelligence in Railway Infrastructure to Propel Market Growth
Pune, India., Sept. 18, 2023 (GLOBE NEWSWIRE) — The North America rail infrastructure market size was valued at USD 114.31 billion in 2021. The market is expected to grow from USD 119.43 billion in 2022 to USD 162.72 billion by 2029, exhibiting a CAGR of 4.52% during the forecast period. Rapid globalization and increasing IoT and Artificial Intelligence (AI) adoption are expected to foster this industry’s growth. Fortune Business Insights™ provides this information in its report titled “North America Rail Infrastructure Market, 2022-2029.”
Drivers & Restraints-
Robust High-speed Rail Links and Existing Line Expansions to Propel Market Progress
Rail infrastructure refers to rail transport system foundations. Strong high-speed rail links and line expansions are expected to boost the adoption of efficient railway infrastructures. Furthermore, substantial investments in railway line expansions are likely to foster the progress of railway infrastructure. Moreover, the rapid development of infrastructures in developing countries is expected to foster the demand for excellent railway services and transportation services. Further, the increasing adoption of Artificial Intelligence (AI) and Big Data in rail infrastructure technologies is expected to boost this industry’s progress. These factors may drive the North America rail infrastructure market growth.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 4.52% |
| 2029 Value Projection | USD 162.72 Billion |
| Base Year | 2021 |
| Market Size in 2022 | USD 119.43 Billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 122 |
Competitive Landscape-
Key Players Enter into Agreements to Boost their Growth Prospects
The prominent companies operating in the market enter into agreements to enhance their growth prospects. For example, the Kansas City Southern and Mexican Ministry of Infrastructure, Communications, and Transportation (SICT) entered in an agreement to invest in Celaya Railway Bypass and fund novel investments in Celaya-NBA Railway Line and other infrastructures for USD 196 million. This strategy may enable the company to enhance its growth prospects in the coming years. Further, companies deploy mergers, acquisitions, partnerships, novel product announcements, and expansions to enhance their market position globally.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/north-america-rail-infrastructure-market-107025
Segments-
Railway Fleet Operator Segment to Lead Backed by Rising Freight Train Density in North America
By service provider, the market is segmented into railway fleet operator and infrastructure manager. The railway fleet operator segment is expected to lead due to increasing freight train density.
Freight Railway Segment to Lead Owing to Increasing Adoption of Railways to Transport Goods
By railway fleet operator, the market is classified into rapid transit railway, passenger railway, and freight railway. The freight railway segment is expected to lead due to the rising adoption of railways for goods transportation.
New Track Investment Segment to Dominate Attributable to Rising Government Plans for Novel Track Development
As per infrastructure manager, the market is categorized into rail networking & signaling, new track investment, and maintenance investment. The new track investment segment is expected to dominate due to increasing government plans for new track development.
| Segmentation | By Service Provider, Railway Fleet Operator, Infrastructure Manager, and Country |
By Service Provider
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By Railway Fleet Operator
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By Infrastructure Manager
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Report Coverage:
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
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A list of prominent Automotive HMI manufacturers operating in the global market:
- CSX (U.S.)
- Norfolk Southern (NS) (U.S.)
- Burlington Northern and Santa Fe (BNSF) (U.S.)
- Union Pacific (UP) (U.S.)
- Canadian Pacific (CP) (Canada)
- Canadian National Railway (CN) (Canada)
- Kansas City Southern (KCS) (U.S.)
- Via Rail Canada (Canada)
COVID-19 Impact:
Rail Infrastructure Project Cancellations and Delays Hampered Market Progress During the Pandemic
This market was negatively affected during the COVID-19 pandemic due to cancellations and delays in rail infrastructure projects. The rapid spike in COVID-19 infections led to the adoption of strict lockdowns. This factor negatively affected the transport and travel sector, which, in turn, hampered this market’s progress. Further, lack of production activities created supply chain disruption, thereby hindering this industry’s growth prospects. However, key players’ adoption of reduced capacities, part-time shifts, and industrial automation helped them recover their costs. These factors bolstered the North America rail infrastructure market share during the pandemic.
Notable Industry Development:
• March 2022: J.B. Hunt Transport Services Inc., alongside BNSF Railway Corporation (BNSF), declared a joint venture to substantially enhance capacity in the intermodal marketplace to meet consumer demands.
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Latest Technological Advancements –North America
- IT spending- North America
- North America Rail Infrastructure Market Analysis, Insights 2018-2021
- Key Findings / Definitions
- Market Analysis, Insights– By Service Provider
- Railway Fleet Operator
- Infrastructure Manager
- Market Analysis, Insights– By Railway Fleet Operator
- Rapid Transit Railway
- Passenger Railway
- Freight Railway
- Market Analysis, Insights and Forecast – By Infrastructure Manager
- Rail Network & Signaling
- New Track Investment
- Maintenance Investment
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Market Analysis, Insights– By Service Provider
- Railway Fleet Operator
- Infrastructure Manager
- Market Analysis, Insights– By Railway Fleet Operator
- Rapid Transit Railway
- Passenger Railway
- Freight Railway
- Market Analysis, Insights and Forecast – By Infrastructure Manager
- Rail Network & Signaling
- New Track Investment
- Maintenance Investment
- Market Analysis, Insights– By Service Provider
- Canada
- Market Analysis, Insights– By Service Provider
- Railway Fleet Operator
- Infrastructure Manager
- Market Analysis, Insights– By Railway Fleet Operator
- Rapid Transit Railway
- Passenger Railway
- Freight Railway
- Market Analysis, Insights and Forecast – By Infrastructure Manager
- Rail Network & Signaling
- New Track Investment
- Maintenance Investment
- Market Analysis, Insights– By Service Provider
- U.S.
- Competitive Analysis
- Global Market Share Analysis (2021)
- Competition Dashboard
- Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
- CSX (The U.S.)
- Norfolk Southern (NS) (The U.S.)
- Burlington Northern and Santa Fe (BNSF) (The U.S.0
- Union Pacific (UP) (The U.S.)
- Canadian pacific (CP) (Canada)
- Canadian National Railway (CN) (Canada)
- Kansas City Southern (KCS) (The U.S)
- Via Rail Canada (Canada)
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