Global Railcar Mover Market Expected to Hit 1.02% CAGR from 2014 to 2020
“Railcar Mover Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”
Albany, NY -- (SBWire) -- 10/12/2017 --Railcar movers refer to road-rail vehicles i.e. the vehicles that are capable of traveling on both rail tracks and roads. They are attached with couplers in order to move railroad cars in a small yard or a rail siding. Some railcar movers comprise two drive systems, while others only have a single drive system. Railcar movers are being majorly utilized by railroad customers owing to them being cheaper as compared to switcher locomotives. They present a more productive way for moving cars as compared to manual moving of cars.
As per the report, the growing economic activities in a number of regions worldwide and the increasing industrialization are the major factors fuelling the growth of the market for railcar movers. The increasing export and import of food and beverages, chemicals and minerals, construction materials, and automobiles have also augmented the growth of the market. The reduced fuel consumption by railcar movers and the advantage of moving both off and on rail track have also impacted the railcar mover market positively.
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Additionally, the increasing economic prosperity, the GDP gains, and the growing industrialization within developed nations of Asia Pacific and Rest of the World (RoW) will also propel the growth of the market in the forecast horizon. However, the low adoption of railcar movers in nationalized railway networks may negatively impact the development of the market for railcar movers.
On the basis of geography, the report segments the global railcar mover market into North America, Europe, Asia Pacific, and Rest of the World (RoW). Of these, the North America railcar mover market held the largest share in 2013 due to the increasing activities of research and development and the rising count of investments within this region. Furthermore, the increasing production of oil, coal, natural gas, and other liquid biofuels within this region will also propel the demand for railcar movers here.
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In the forthcoming years, however, the railcar mover market within North America is expected to rise at a very low CAGR of 0.69% between 2014 and 2020. Thus, the railcar movers market in North America is poised to lose some of its share and will be overtaken by the region of Asia Pacific. This is due to the expanding economy and the rising disposable income of individuals residing in the countries of Asia Pacific.
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The Asia Pacific railcar mover market is poised to rise at a CAGR of 1.33% between 2014 and 2020. On the other hand, the railcar movers market in the Middle East is also anticipated to grow swiftly all through the forecast horizon.
According to the report, the chief manufacturers dominant in the railcar movers market in North America are Shuttlewagon, Trackmobile, Railkin, Railquip Inc., Brandt Road Rail Corp., Unimog, Zweiweg, Unilokomotive, Zephir, UCA, and Zwiehoff, among others.
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