Europe 40-foot Platform Wagons Industry Overview
The Europe 40-foot platform wagons market size is expected to reach USD 856.2 million by 2028, registering a CAGR of 4.7% from 2021 to 2028, according to a new study by Grand View Research, Inc. The European Union (EU) significantly relies on the efficiency of rail transportation to haul freight for all industries that play an important role in driving the economy. Promoting more efficient and sustainable transportation of rail freight has been a key part of the EU policy. The development of favorable government strategies for rail freight operations can provide an opportunity to evaluate the current process and identify the potential scope for the current and future requirements of rail freight wagons.
The high capital investments required to rollout the railway infrastructure is one of the major restraints hampering the growth of the market. Rail projects can be considerably expensive owing to the huge investments required in having the necessary infrastructure in place. Moreover, rail operators need to continuously invest in upgrading the rail lines and power lines and installing new tracks, among other activities. Around 70% of the investments are spent on track infrastructure to ensure an efficient and safe network. This includes the replacement of rail and the construction of bridges and power lines. For instance, in June 2021, Rail Cargo Group, a rail freight transportation company based in Austria, announced an investment of USD 235.5 million to buy 2,150 freight wagons by 2026.
The growing demand for mobility in Europe has created a need for a well-integrated and efficient railway system capable of addressing all the logistical, technical, and environmental constraints and ensuring sustainable growth of the enlarged European Union. Replacing legacy technology with advanced train-control and signaling systems, such as European Rail Traffic Management System (ERTMS) Level 2 and above, which is based on wireless communications to supervise the train movement, can be considered the core element for the digitization of traffic management and train control. Advanced technologies, such as freight information systems, Positive Train Control (PTC), machine vision, and RFID, are unfolding new opportunities for reducing logistics costs, improving operational efficiency, and enhancing customer service while providing personalized door-to-door delivery.
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Europe 40-foot Platform Wagons Market Segmentation
Grand View Research has segmented the Europe 40-foot platform wagons market based on country:
Europe 40-foot Platform Wagons Country Outlook (Revenue, USD Million, 2018 – 2028)
- Rest of Europe
Key Companies Profile & Market Share Insights
Companies are also focusing on mergers and acquisitions and strategic partnerships to develop technologically advanced products and gain a competitive edge in the market.
Some prominent players in the Europe 40-foot platform wagons market include
- AstraRail Industries S.A.
- Altaivagon Joint-Stock Company
- ELH Waggonbau Niesky GmbH
- NYMWAG CS
- RM RAIL
- Tatravagónka a.s.
- TMH International
- United Wagon Company
- VTG AKTIENGESELLSCHAFT
Order a free sample PDF of the Europe 40-foot Platform Wagons Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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