The global railcar mover market is likely to experience steady growth over the period of forecast owing to its rising demand from various industries, particularly oil and gas and mining industries. Railroad transport working together with the railcar mover is an efficacious method that makes it capable of handling cargos in huge quantities over a short period of time. Utilizing hybrid engines to manufacture railcar movers make them independent of crude oil price volatilities. As such, cost effectiveness is thus achieved makes railcars more preferred options.
Some of the renowned market players that are functioning in the global railcar mover market are Brandt Road Rail Corp., Unilokomotive Ireland Limited, Railquip Inc., Shuttlewagon, Trackmobile, and Stewart & Stevenson LLC.
A detailed report on the global railcar mover market has been prepared using extensive research methods to include information that is pertinent to the market. This report by Transparency Market Research (TMR) offers the stakeholders all the required data needed to make informed decision about the global railcar mover market. The market is prophesized to register growth at 1.02% CAGR over the forecast period.
Driven by Rapid Industrialization, Asia Pacific to Emerge as a Leading Region for the Market
Latin America, Middle East and Africa, Asia Pacific, Europe, and North America comprise the regional segments of the global railcar mover market. These segmentations are expected to offer deeper understanding of the market in terms of region.
According to the study, Asia Pacific is likely to emerge as the leading contributor of revenue to the global railcar mover market. The trend is likely to continue in forthcoming years owing to rapid pace of industrialization and expansion of corridors of freight rail transport. Africa is likely to emerge as a leading regional player as well, thanks to recent discoveries of oil and gas reserves in the region, which deploys railcar movers extensively. In addition, India and China are also exploring for new reserves of oil and gas, which calls for use of railcar movers, thereby presenting copious growth opportunities for the market in the region.
However, the railcar movers market in America estimated to witness sluggish growth over the period of assessment. The growth of the market in the region is due to the discovery of some oil and gas reserves. It is highly likely that North America would lose out some of its market share to Asia Pacific in forthcoming years.
Integration of IoT with Railcar Movers to Bolster Demand in the Market
Generally lightweight, railcar movers are obtaining more of tractive effort through transfer of weight from the vehicle that they hauling onto its wheels. This is to augment their effective weight.
The mid-segment tractive effort railcar movers are becoming increasingly popular among the manufacturers owing to technological progress made in the railcar movers. The global railcar mover market is likely to witness expansion due to the growing demand for rail services and equipment. In addition, demand from various industries, such as construction, agricultural, manufacturing, and chemical industries are boosting the global railcar mover market.
A railcar mover can travel both on roads and rail tracks effortlessly and are utilized extensively. Furthermore, cost effectiveness and ease of operation as compared to locomotives render them fit for use in various applications.
Incorporating internet of things (IoT) with technologically advanced railcar movers enables attaching sensors with electronic gadgets in railcar movers. This is expected to assist in the supervision and monitoring of many statistical data like speed of the track, position of the throttle, and electronic devices. Incorporation of IoT into railcar movers offers increased productivity and fuel efficiency. It also enables hassle-free data collection, data analysis, and making of predictive analysis. As such, integration of IoT technology is highly likely to support the growth of the global railcar mover market during the assessment period.
The information shared in this review is based on a TMR report, bearing the title, “Railcar mover market (End-User – Metals and Minerals and Oil and Gas) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020.”
The global Railcar Mover market is segmented based on:
- Metals and Minerals
- Oil and Gas
- North America
- Rest of Europe
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
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