Global Railcar Leasing Market Report 2023

Railcar Leasing Market

The global Railcar Leasing market was valued at US$ 10860 million in 2022 and is anticipated to reach US$ 13990 million by 2029, witnessing a CAGR of 4.3% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

 The worldwide railcar leasing market is anticipated to be driven by the demand for railcar transportation of chemical products, oil & gas, energy and coal, steel & mining, food & agriculture, aggregates & construction.

Railcars with built-in detecting technology benefit in many ways. The global railcar leasing market is anticipated to be driven by intelligent railcars, which connect the complete supply chain and digitalize railcar operations.

Railcar Leasing Market Trends

The demand for the train transportation of chemical products, oil and gas, energy and coal, steel and mining, and food and agriculture is expected to drive the global railcar leasing industry. Historically, bulk commodities like chemicals, coal, wood products, metals, minerals, and agricultural products have been transported using rail goods wagons. The suppliers to the market are investing money in a new generation of goods vehicles to increase capacity so they can transport substantial loads of goods in a single trip and enhance the efficiency of each container.  Because leasing is generally less expensive than purchasing a more modern railcar, more and more consumers are making this decision. 

The transportation of perishable goods in refrigerated containers would be advantageous to the railcar rental sector. Demand for railcar leasing is anticipated to rise due to the increased demand for temperature-controlled containers used to keep perishable goods like pharmaceuticals and seafood on a global scale. One of the most dependable methods of transporting industrial and automotive goods has been using railway networks. The expansion of the industrial sectors, especially in developing economies, and the presence of a well-established rail infrastructure both contribute to the growth of regional markets.

The railcar rental industry would benefit from the movement of perishable products in refrigerated containers. The increased need for temperature-controlled containers, which are used to store perishable products like pharmaceuticals and seafood on a global scale, is expected to increase demand for railcar leasing. Using railway networks has been one of the most dependable ways to move industrial and automotive products. Regional markets expand as a result of the development of industrial sectors, particularly in developing economies, and the existence of an established rail system.

The global railcar leasing market is anticipated to be driven by intelligent railcars, which connect the complete supply chain and digitalize railcar operations. Due to the Internet of Things (IoT) being integrated into railcars, which provides features like digital assistance for loading and unloading and arrival notification, the global railcar leasing market is anticipated to expand. The integration of sensor technology into railcars has many benefits, including assisting in the data collection for accurate position tracking and temperature-sensitive goods status monitoring. The information can also be used by railcar lessors to better comprehend their situation. Temperature sensors also provide useful information on traffic conditions, which is useful for controlling the cold supply chain.

Railcar Leasing Market Share Analysis

Wells Fargo, GATX, Union Tank Car, and other significant players are a few of those involved in Global Railcar Leasing. The top three producers in the globe hold about 35% of the market.

North America is in the lead with a market share of more than 60%. Europe is second, followed by Asia-Pacific, both of which have market percentages of over 30%.

Freight Cars are the largest product category, accounting for more than 70% of the industry.

Segment by Type

• Tank Cars
• Freight Cars
• Others

Segment by Application

• Oil & Gas
• Chemical Products
• Energy and Coal
• Steel & Mining
• Food & Agriculture
• Aggregates & Construction
• Others

BY REGION

• United States
• Europe
• China
• Japan
• Southeast Asia
• India
• Other Regions

BY COMPANY

• Wells Fargo
• GATX
• Union Tank Car
• CIT
• VTG
• Trinity
• Ermewa
• SMBC (ARI)
• BRUNSWICK Rail
• Mitsui Rail Capital
• Andersons
• Touax Group
• Chicago Freight Car Leasing
• The Greenbrier Companies

Scope of Global Railcar Leasing Market Report