Market Size of Canada Rail Freight Transport Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 3.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Canada Rail Freight Transport Market Analysis
The Canadian rail freight transport market is expected to register a CAGR of 3.5% during the forecast period.
- The freight rail sector of Canada's economy is its backbone, moving more than 320 billion dollars worth of goods annually across a coast-to-coast network. Almost all sectors of the Canadian economy are served by its freight trains, including manufacturing, agriculture, natural resources, wholesale, and retail.
- The export and import of goods are essential to Canada's economic development and standard of living, and the nation's freight trains make sure that these goods reach their destinations as quickly and cheaply as possible.
- Canadian railways transported 30.1 million tonnes of freight in June 2022, edging up 1.3% from June 2021 and the second consecutive month of the year-over-year increase in tonnage. Large increases in loadings of iron ores and energy products offset the ongoing declines in grain shipments.
- Also contributing to the overall increase were freight loadings from US rail connections, which reached 3.9 million tonnes in June 2022, a 9.2% increase from June 2021.
Canada Rail Freight Transport Industry Segmentation
From a point of loading or a goods station to a point of unloading, goods are transported through rail. These products, such coal, building supplies, iron, and steel, are frequently large and heavy. Along with the transportation of large items, the rail freight market also offers this service. Service providers provide value-added services and logistics. Loading and documentation, unloading, services, and packaging are a few of them. As a result, this promotes the growth of the rail freight transportation market.
The Canada Rail Freight Transport Market is Segmented by Cargo Type (Containerized (Intermodal), Non-containerized, and Liquid Bulk), Destination (Domestic and International), and Service (Transportation and Services Allied to Transportation). The report offers market size and forecasts for Canada Rail Freight Transport Market in value (USD Billion) for all the above segments.
| Service | |
| Transportation | |
| Services Allied to Transportation (Maintenance of Railcars and Rail Tracks, Switching of Cargo, and Storage) |
| Cargo Type | |
| Containerized (Includes Intermodal) | |
| Non-containerized | |
| Liquid Bulk |
| Destination | |
| Domestic | |
| International |
Canada Rail Freight Transport Market Size Summary
The Canadian rail freight transport market serves as a crucial component of the nation's economy, facilitating the movement of goods across a vast network that spans the country. This sector supports various industries, including manufacturing, agriculture, and natural resources, by ensuring efficient and cost-effective transportation of goods. The market is characterized by its reliance on advanced technologies and innovations, such as machine learning and IoT sensors, to enhance operational efficiency and safety. These technological advancements are pivotal in optimizing transport expenditures and improving infrastructure planning, thereby driving growth in the rail freight transport sector. The government's investment in trade corridors and safety programs further bolsters the market's expansion, ensuring that Canadian supply chains remain competitive on a global scale.
Dominated by major players like Canadian National Railway and Canadian Pacific Railway, the market is also supported by a range of logistics and transportation companies. These Class I railways account for a significant portion of the industry's revenues, underscoring their pivotal role in the market. Recent developments, such as the deployment of enhanced train control systems and international collaborations like the Deutsche Bahn contract, highlight the ongoing efforts to improve safety and efficiency within the sector. As the market continues to evolve, the integration of big data and predictive analytics is expected to play a significant role in shaping strategic business outcomes and enhancing the overall reliability of rail freight transport in Canada.
Canada Rail Freight Transport Market Size - Table of Contents
-
1. MARKET DYNAMICS AND INSIGHTS
-
1.1 Current Market Scenario
-
1.2 Market Dynamics
-
1.2.1 Drivers
-
1.2.2 Restraints
-
1.2.3 Opportunities
-
-
1.3 Value Chain/Supply Chain Analysis
-
1.4 Technological Advancements
-
1.5 Government Regulations and Key Initiatives
-
1.6 Spotlight on the Effects of the Belt and Road Initiative (BRI)
-
1.7 Elaboration on Key Trade Agreements Related to Rail
-
1.8 Review and Commentary on the Freight Transportation Costs by Rail
-
1.9 Insights into Key End Users of the Rail Freight Sector
-
1.10 Impact of COVID-19 on the Market
-
-
2. MARKET SEGMENTATION
-
2.1 Service
-
2.1.1 Transportation
-
2.1.2 Services Allied to Transportation (Maintenance of Railcars and Rail Tracks, Switching of Cargo, and Storage)
-
-
2.2 Cargo Type
-
2.2.1 Containerized (Includes Intermodal)
-
2.2.2 Non-containerized
-
2.2.3 Liquid Bulk
-
-
2.3 Destination
-
2.3.1 Domestic
-
2.3.2 International
-
-
Canada Rail Freight Transport Market Size FAQs
What is the current Canada Rail Freight Transport Market size?
The Canada Rail Freight Transport Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)
Who are the key players in Canada Rail Freight Transport Market?
Canadian National Railway, Canadian Pacific Railway, Paige Logistics Ltd, eShipper and M3 Transport are the major companies operating in the Canada Rail Freight Transport Market.
