Published on : Jun 10, 2016
The global railcar mover market has been experiencing robust growth. The extensive rise in the Asia Pacific railway transit network has fuelled the demand for railcar movers in this region and across the world significantly. However, North is likely to remain dominant in this global market.
Rising Production of Crude Oil Drives North America Railcar Mover Market
The rising production of crude oil in North America has triggered the need for railcars utilized for carrying crude oil to refineries, resulting in the increasing demand for railcar movers in this region.
Apart from this, the increasing number of the shipment of chemicals, autos, minerals, grains, and construction materials has also stimulated the growth of this regional market. The rising production of natural gas, coal, oil, and other liquefied bio-fuels is projected to boost the North America railcar mover market significantly in the coming years.
Growing Industrialization to Drive Asia Pacific Railcar Mover Market
The Asia Pacific railcar mover is also expected to report significant rise. The growing industrialization, supported by the improving economy is resulting in the increase in the GDP. The profit gained by the GDP in this region is likely to drive this regional market substantially over the next few years.
The railcar mover market in the Middle East is driven by the increasing expenses for logistics in the crude oil, natural gas, and mining industries. On the other hand, the market in the Rest of the world is propelled by the rapid industrialization and the advancement in the economic condition in the near future.
The worldwide market for railcar movers exhibits a highly consolidated structure, where just three players, namely, Shuttlewagon Inc., Railking, and Trackmobile Inc. account for the majority share in the overall market. Other prominent players operating in this market are Railquip Inc., Brandt Road Rail Corp., and Stewart & Stevenson LLC.