FELTON, California, May 2, 2018 /PRNewswire/ --
The U.S. rail infrastructure market is projected to reach USD 5.93 billion by 2025. The market is expected to witness a lucrative growth on account of increasing population and demographics in this country. United States is becoming an urbanized country and it is anticipated that it will cover larger network of metropolitan areas. Growing population and effective investment in transportation infrastructure is anticipated to add rail Infrastructure market growth over the forecast period. According to U.S. Department of Transportation, Federal Railroad Administration, U.S. rail industry consist of 140,000 rail miles operated by class 1 railroads, 510 local railroads, and 21 regional railroads. Industry also provides 221,000 jobs across United States and also offers various public benefits such as highway fatalities, logistics cost, greenhouse gases and fuel consumption, reduction in road congestion, and public infrastructure maintenance cost. Rising passenger volume, increasing number of rail routes and network, rolling infrastructure and stock, growing awareness regarding passenger rail is anticipated to boost the U.S. rail infrastructure market over the forecast period. Increasing invest to modernize and expand the capacity of the rail and to purchase the equipment is anticipated to add U.S. rail infrastructure market over the forecast period. However, growing dominance from automobiles and airplanes is anticipated to be the key restraint for U.S. Rail Infrastructure Market.
Railroads are continuously developing and researching high tech innovations to enhance rail operations which in turn is expected to add market growth. Growing investment in locomotives, freight cars, computer equipment, highway equipment, and other equipment is anticipated to add U.S. rail infrastructure market growth over the forecast period. According to American Public Transportation Association, in 2016, number of light rail passengers in 14 United States cities grew by an average of 4.3%, whereas Houston, New Orleans, Baltimore, Seattle, and Phoenix showed nearly double-digit growth. Increasing problems related to traffic congestion as well as parking capacities had led parliaments and many city administrations to rediscover the advantage of mass transit. As a result, there are cities in United States that especially seeking to make neighborhoods around rail stations more attractive and others making less crowded areas more attractive by providing new rail lines. Increasing investment on rail infrastructure is expected to boost the market over the forecast period. According to U.S. Department of Commerce, U.S. freight operators invested over 600 billion dollars from 1980 to 2015 for the maintenance and expansion of train fleets and rail infrastructure.
Browse full research report with TOC on "U.S. Rail Infrastructure Market Size and Forecast By Type (New track construction, Track Addition & Maintenance), By Ownership (Private Rail Road, Public Rail Road), And Trend Analysis, 2015 - 2025" at: https://www.hexaresearch.com/research-report/us-rail-infrastructure-market
Rail infrastructure industry in United States is consolidated in nature with limited number of industries operating in this country accounted for most of the market shares. Some of the well-known players in this industry include National Railroad Passenger Corporation, BNSF Railway Company, Norfolk Southern Corp, The Kansas City Southern Railway Company, and Union Pacific Railroad Company. In addition, approval of light rail extension projects in this country is expected to add market growth over the forecast period. For instance, in November 2017, Massachusetts Bay Transportation Authority approved build and design agreement for Boston's green line light rail extension.
Browse more reports by Hexa Research:
- U.S. Dump Truck Service Market - U.S. dump truck service market size was valued at USD 18.27 billion in 2017 and is expected to witness a significant growth, pertaining to the growing construction and mining activities over the forecast period. The market is primarily driven by the high demand of material handling vehicles.
- Electric Motorcycles & Scooters Market - Global electric motorcycles and scooters are also known as electric power two wheelers, E-bike, E-motorcycle, E-scooters or e-PWT market is predicted to have continuous growth shortly. However, the market growth was steady over the past decade.
- Wiper System Market - Global Wiper Systems market is expected to witness substantial growth over the forecast period on account of the steady increase in the production of automobiles in the developing countries. Wiper systems are used for removing dust, snow, ice, rain and debris from the windshield of an automobile.
- Driver Assistance Systems Market - Driver assistance systems market is expected to grow at a significant pace from 2016 to 2024 owing to the increased demand for premium passenger cars. Factors such as growing number of households, economic prosperity, increase in people holding driving licenses and growth in employment contributes to the increasing passenger car demand.
Hexa Research has segmented the U.S. rail infrastructure market report based on type and ownership:
Segmentation by type, 2015 - 2025
• New track construction
• Track addition & maintenance
Segmentation by ownership, 2015 - 2025
• Private rail road
• Public rail road
Key players analyzed:
• National Railroad Passenger Corporation
• BNSF Railway Company
• Norfolk Southern Corp
• The Kansas City Southern Railway Company
• Union Pacific Railroad Company
About Hexa Research
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
Corporate Sales Specialist
Toll Free: 1-800-489-3075
SOURCE Hexa Research