Global Railway Tank Car Market Size, Share, and Trends Analysis Report, By Built Type (Newly Built and Retrofit), By Pressure (Pressurized Railroad Tank Car, General Purpose Tank Car, and Non-Pressurized Railroad Tank Car), and By Application (Crude Oil, Ethanol, Liquefied Gases, Bio Fuels, Milk, and Chemicals), Forecast (2022-2028)

The railway tank car market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). A rail wagon is another name for a railway tank car. Tank cars and freight cars are the two types of railroad carriages. Tank cars on the railroad are built and intended to transport goods, such as gas and liquid. The ability to customize rail wagons depending on criteria, such as size or capacity, interior coating, and material type, for long-distance transportation is a crucial benefit for railroad tank car operators. The railroad tank cars come in a variety of sizes, ranging from 50 to 200 cubic meters. Due to the rising demand for liquefied gases in most emerging nations, producers are likely to expand their fleet capacity during the forecast period.

The global railway tank car market is segmented based on the built type, pressure, and application. Based on the built type, the market is sub-segmented into newly built and retrofit. Based on the pressure, the market is sub-segmented into pressurized railroad tank cars, general-purpose tank cars, and non-pressurized railroad tank cars. Among these pressures, the pressurized railroad tank cars segment is expected to propel the growth of the market due to the increasing demand and usage of railway tank cars globally. Based on the application, the market is sub-segmented into crude oil, ethanol, liquefied gases, biofuels, milk, and chemicals.

The market players are also contributing significantly to the market’s growth by adopting various strategies, including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in April 2022, Industrial Nanotech announced a deal with a railroad tank car owner to offer thermal insulation for the tank cars they own and run. They will also be the world’s sole distributor for railroad tank cars. A future joint news release will provide further information about the new partner. The 9,300 automobiles will be the initial emphasis. In the US, there are around 500,000 tank vehicles. Each tank vehicle generates around $35,000 in income for the company.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Built Type
  • By Pressure
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- American Railcar Industries, Union Tank Car Co., Caterpillar, Japan Oil Transportation, Kelso Technologies, GATX, Procor Ltd., National Steel Car, Trinity Industries, and Om Besco Rail Products, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Railway Tank Car Market Report by Segment

By Built Type

• Newly Built
• Retrofit

By Pressure

• Pressurized Railroad Tank Car
• General Purpose Tank Car
• Non-Pressurized Railroad Tank Car

By Application

• Crude Oil
• Ethanol
• Liquefied Gases
• Bio Fuels
• Milk
• Chemicals

Global Railway Tank Car Market Report by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa