Railcar Mover Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020
Albany, NY -- (SBWIRE) -- 06/23/2015 -- According to a new market report published by Transparency Market Research "Railcar Mover Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020," the railcar mover market is growing at a CAGR of 1.02% from 2014 to 2020.
Railway transit network is one of the booming sectors in Asia Pacific and is expected to grow significantly in the next few years, opening new avenues for international and domestic railcar mover manufacturers. Moreover, the market is boosted with investment in rail road infrastructure reduces costs and pollution while increasing efficiency of access to goods and transportation. With technological advancements, railcar movers are being electrically-powered to reduce fuel cost and time.
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Railcar movers are usually light weight; however, with the increase in demand, they are gaining more tractive effort by transferring weight from the car they are hauling onto their wheels, in order to increase their effective weight. Due to technological advancements, the market for railcar mover in mid segment tractive effort is growing significantly. Increasing demand for rail equipment and services further boosted the market for railcar movers. In addition, growth in chemical, construction, and agricultural industries and railroads, and manufacturing sectors is driving demand for railcar movers in Europe, North America and parts of Asia Pacific, creating opportunities in these regions.
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North America held the largest market share in 2013 with an estimated CAGR of 0.69% between 2014 and 2020. With the decline in oil prices the demand for railroad tank cars is growing. Increase in the shipment of grains, autos, chemicals and construction materials, and minerals boosted growth of the railcar mover market in North America. The increase in production of oil, natural gas, renewable, coal, and other liquid bio-fuels further spurred growth of the railcar movers market in North America.
Major industry participants include Trackmobile, Railking, and Shuttlewagon.
The market has been segmented as follows:
Railcar Mover Market, by Geography:
Rest of the World
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