The new report by Expert Market Research titled, ‘Australia Railroads Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the country’s railroads market, assessing the market based on its segments like type, distance, and major states.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 33.8 billion
• Forecast CAGR (2023-2028): 6.9%
• Forecast Market Size (2028): USD 50.2 billion
The rail sector of Australia plays a vital role in the country’s economy. The country’s rail sector is the sixth largest network in the world and employs around 1,42,000 people. Australia has one of the most technologically advanced rail networks in the world and has several rail projects underway, such as Cross River Rail and Inland Rail. In the coming years also, Australia’s rail sector is expected to prosper and would support the market for railroads. The increasing demand for railroads for transporting commodities for use in several industry verticals will be a major growth propeller for the country’s market. Further, the increasing passenger traffic coupled with the development of enhanced bullet trains is likely to favour the market in the coming years.
Industry Definition and Major Segments
Railroads are a mode of land transportation in which flange-wheeled vehicles moves over two parallel tracks through the propulsion of a locomotive or by self-propulsion. Compared to road transport, rail transport is a cost-effective transportation medium and is reliable as the transportation through them is not hindered by traffic.
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The Australian railroads market is divided on the basis of type:
• Passenger Rail
• Rail Freight
Based on distance, the market has been bifurcated by distance type:
• Long Distance
• Short Distance
The report also studies the Australian railroads market scenario by segmenting it on the basis of states, namely New South Wales, Victoria, Queensland, Western Australia, South Australia, and others.
In Australia, the demand for rail transport is constantly increasing as rail transport leads to low carbon emissions, lower congestion costs, and offers safety benefits. Furthermore, the increasing government spending on the development of rail networks is also boosting the market growth. Rail freight is a major input for several Australian industries, which together spent around USD 4.7 billion on rail transport, and thus, rail freight is a major market strengthening factor.
Key Market Players
The major players in the market are Bombardier Transportation, Downer Group, UGL Rail, Alstom SA, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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