Canada Rail Freight Transport Market Size
| 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 |
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 Market Trends
This section covers the major market trends shaping the Canada Rail Freight Transport Market according to our research experts:
Government initiatives, investments and Technological innovation in rail freight industry has driven the market
Every industry needs innovation. The resurgence of the rail sector is all about incorporating everything high-tech and intelligent, whether it be holographic projection, augmented reality, improved fuel management systems, 3D laser scanners for freight visibility solutions, or machine learning.
The Automated Vehicles Comprehensive Plan, for instance, was created by the U.S. Department of Transportation to increase rail safety, encourage cooperation and transparency, transform the regulatory landscape, and get the transportation system ready for a variety of disruptions.Investment in new technologies is essential to monitor thousands of miles of lines and prevent human involvement as railways expand. The use of data and artificial intelligence to generate insights that can improve services and save costs will receive a lot of attention.
Also, through initiatives such as the National Trade Corridors Fund and the Rail Safety Improvement Program, the Government of Canada is investing in well-functioning trade corridors to help Canadians compete in key global markets, trade more efficiently with international partners, and keep Canadian supply chains competitive which inturn is contributing the revenue growth in rail freight transport sector
Increase in Rail freight revenue use of Artificial Intelligence and Big Data in Rail Planning
Large-scale data gathering and analysis, along with AI-based tools and machine learning, are being utilised to demonstrate new insights that may improve decision-making and produce strategic business outcomes.
Predictive analytics, asset management, passenger information systems, and data management platforms are all made possible by the use of big data in the rail industry. To further enhance the security, safety, and dependability of the infrastructure, smart railway sensors assess a wide range of data points. The availability of rail backup is increased by the ability of train operators to schedule repairs in advance of any breakdowns. IoT sensors are being developed by startups and scale-up businesses to gather information about rail infrastructure's nearly every component, including railcars, rails, and signalling units.
New technological trends like improved digitization have led to the optimization of transport expenditure and efficient planning of infrastructure in rail transport leading to growth in rail freight transport market
Canada Rail Freight Transport Industry Overview
Canadian National Railway ( CN ) and Canadian Pacific Railway ( CPR ) are the two dominant freight rail operators in Canada and are both Class I railways, meaning their revenues exceeded USD 250 million in the past two years. Of total Canadian rail transport industry revenues, CN accounts for over 50% and CPR for approximately 35%. Paige Logistics Ltd, eShipper, M3 Transport, Excel Transportation, MSolution Groups, Alpha Logistiques, Liberate Logistics, Fastfrate are other market participants in Canada Rail Freight Transport Market.
Canada Rail Freight Transport Market Leaders
-
Canadian National Railway
-
Canadian Pacific Railway
-
Paige Logistics Ltd
-
eShipper
-
M3 Transport
*Disclaimer: Major Players sorted in no particular order
Canada Rail Freight Transport Market News
- April 2022: Deutsche Bahn International Operations (DB IO) will plan, operate and maintain the GO regional rail public transportation network in Toronto and the wider province of Ontario. The contract has a duration of 25 years and carries a value of 10 Billion of euros.
- August 2022: Transport Canada has taken steps to ensure major freight railways in the country deploy enhanced train control, a safety technology that tracks the distances between trains. In the United States, positive train control (PTC) is the term used to describe the technology that certain freight and passenger railroads, including the American operations of Canadian Pacific (NYSE: CP) and CN (NYSE: CNI), are required to install in order to prevent train-to-train collisions, over-speed derailments, and movements of trains through switches left in the incorrect position. Enhanced train control would be Canada's equivalent of PTC.
Canada Rail Freight Transport Market Report - Table of Contents
1. INTRODUCTION
1.1 Market Definition and Scope
1.2 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Current Market Scenario
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Value Chain/Supply Chain Analysis
4.4 Technological Advancements
4.5 Government Regulations and Key Initiatives
4.6 Spotlight on the Effects of the Belt and Road Initiative (BRI)
4.7 Elaboration on Key Trade Agreements Related to Rail
4.8 Review and Commentary on the Freight Transportation Costs by Rail
4.9 Insights into Key End Users of the Rail Freight Sector
4.10 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 Service
5.1.1 Transportation
5.1.2 Services Allied to Transportation (Maintenance of Railcars and Rail Tracks, Switching of Cargo, and Storage)
5.2 Cargo Type
5.2.1 Containerized (Includes Intermodal)
5.2.2 Non-containerized
5.2.3 Liquid Bulk
5.3 Destination
5.3.1 Domestic
5.3.2 International
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Canadian National Railway
6.2.2 Canadian Pacific Railway
6.2.3 Paige Logistics Ltd
6.2.4 eShipper
6.2.5 M3 Transport
6.2.6 Excel Transportation
6.2.7 MSolution Groups
6.2.8 Alpha Logistiques
6.2.9 Liberate Logistics
6.2.10 Fastfrate*
- *List Not Exhaustive
7. FUTURE OF CANADA RAIL FREIGHT TRANSPORT MARKET
8. APPENDIX
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 Research 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.
What years does this Canada Rail Freight Transport Market cover?
The report covers the Canada Rail Freight Transport Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Canada Rail Freight Transport Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Canada Rail Freight Transport Industry Report
Statistics for the 2024 Canada Rail Freight Transport market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Canada Rail Freight Transport analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Canada Rail Freight Transport Report Snapshots
