Railroads have played a major role in industrial revolution, especially in the US. Their construction brought political, economic, and social changes in the early ages. Even today, railway is responsible for providing affordable transportation to people around the world and creating a large number of job opportunities in emerging countries such as India. Renowned as the “Father of Railways,” English civil engineer George Stephenson created the first successful locomotive of the world. It was Great Britain that developed the first railroad. Stephenson’s company in England supplied the first engines used in the US. American inventor and engineer, John Stevens is considered to be the “Father of American Railroads.”
Job creation and automation are two of the main factors impacting the global railroads market. The Association of American Railroads hosted a Rail and Tech event at America’s Capitol Hill in early May 2019. Important entities from the railroad industry participated in the event to push a different policy approach and discuss rail innovation. The fear of automation killing jobs has urged the US House and over 10 US states to pass bills such as the Safe Freight Act of 2019 in favor of mandating two-person crews on every train.
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- Passenger Rail
- Rail Freight
According to analysts, passenger rail is foreseen to take a commanding share of and show quick growth in the global railroads market. Some of the important factors increasing the demand for passenger rail are low fares of passenger trains and the growth of the tourism industry. Furthermore, rising investment in the expansion of passenger rail networks is expected to push the growth of this segment.
The global railroads market marks the presence of top players such as Central Japan Railway Company, SNCF Group, Union Pacific Corporation, OAO RZD (Russian Railways), and others.
Market Analysis by Regions and Countries
The Middle East and Africa (GCC Countries and Egypt.)
North America (the United States, Mexico, and Canada.)
South America (Brazil etc.)
Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia.)
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