The growth in the railway transit network worldwide is opening new avenues for the development of the global railcar mover market. According to a research study, published by Transparency Market Research, the global market for railcar movers is projected to report a CAGR of 1.02% between 2014 and 2020. Analysts at TMR state that the global railcar movers market continues to follow a trend of outrageous demand. The rising investment in railroad infrastructure and rail assets is fueling the growth of this market.
The global railcar mover market is divided regionally into North America, Europe, Asia Pacific, and the Rest of the World. North America occupies the leading position in the global railcar movers market at present. However, this regional market is losing ground to the Asia Pacific railcar mover market. Over the period from 2014 to 2020, the North America railcar mover market is estimated to record a CAGR of 0.69%, whereas the market in Asia Pacific is likely to outgrow the North America market with a CAGR of 1.33%.
Browse Market Research Report of Railcar Mover Market:
The advancing economy, rising disposable income, and increasing profit from GDP in several nations is prompting rapid industrialization in the Asia Pacific region. The market is driven by growing investment in railroad infrastructure. With the development in railroad infrastructure, railcar movers are being electrically powered, which is anticipated to reduce fuel costs, travel time, and pollution, and increase efficient access to goods and transportation.
On the other hand, in North America, the increasing export and import of chemicals and minerals, food and beverages, automobiles, and construction materials have fueled the growth of the railcar mover market. The rise in the production of oil, coal, natural gas, and other liquid bio-fuels, coupled with the declining oil prices, has further stimulated the railcar movers market in this region.
- The most important factor behind the rise of the North American railcar mover market is the presence of the world’s biggest market players, Trackmobile, Railking, and Shuttlewagon, in this region.
- Trackmobile is the world’s leading railcar mover manufacturer. Established in 1947, the company has more than 10,000 Trackmobile units, which have been functioning in 54 countries across the globe.
- Railking is another big name in the global railcar mover market. It was developed by Stewart & Stevenson in 1990 and was produced in four technically enhanced generations. It supports railcar switching operations allover in North America and overseas.
- Shuttlewagon, a subdivision of Nordco, is among the topmost designers and developers of mobile railcar movers for various industries such as mining and refining. The firm offers 9 models of railcar movers, each one with a different type of engine configuration to suit the specific requirements of the end user. The latest one from the company is the Navigator Series, which boasts of the world’s highest capacity mobile railcar mover, named NVX8040.
Browse Press Release of Railcar Mover Market:
These 3 players together hold a majority share in the global railcar mover market. Other prominent players in this market are Brandt Road Rail Corp., Railquip Inc., Unilokomotive, Unimog, Zweiweg, Zwiehoff, Zephir, and UCA.