The Global Railcar Mover Market size is forecast to reach $1519.4 million by 2026, growing at a CAGR of 6.9% from 2021 to 2026. Increasing demand from oil & gas, mining, manufacturing and related industries along with surge in railroad transportation or shipment of goods are the major factors that drive the market growth of rail car movers. Compared to switcher locomotive, adoption of rail car movers helps in minimizing operation costs with higher reliability, flexibility, versatility and energy efficient safer transport, which aids its market demand.Key Takeaways
Rising investments on railway freight corridors along with increasing growth of chemical industries is analysed to significantly drive the Rail car Mover market during the forecast period 2021-2026.
Electric/battery powered rail car mover sector is anticipated to grow with the highest CAGR during 2021-2026, attributing to factors including reduced vehicular emissions, ease of operation and others.
APAC held the largest market share in 2020, owing to various factors including rapid industrialization, investment on upgrading railway tracks and so on.
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Railcar Mover Market Segment Analysis- Geography
APAC region had contributed with the largest market share of around 39% in 2020 and is also analysed to have a significant growth over the forecast period 2021-2026. Increasing investments on chemical industries, metal processing and others along with surge of goods shipment for varied end use sectors can be considered as some of the major factors attributed to the market growth of rail car movers in the region. Rapid industrialization, investments on enhancing logistics services, growth of mining, oil & gas, and related sectors overtime have been also assisting the growth of rail car movers. In addition, expansion of rail networks in China, India along with governmental initiatives or investments towards rail freight corridor projects will facilitate the demand for rail car movers in the long run.
Rail car Mover Market Drivers
Increasing growth of chemical industries
Rising investments on railway freight corridors drives the market forward
Rail car Mover Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Rail car Mover market. Rail car Mover top 10 companies include Nordco Inc., Trackmobile LLC, Mitchell Equipment Corporation, Zephir S.p.A, Shuttle Wagon Inc., Railking, LEAF Automotive, BOSS Railcar Movers, Wolter Group LLC and DJ Products among others.
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