Latest News- Railcar Leasing Market in North America: Petroleum and chemical is expected to lead the End-user segment during 2025-2029

The Railcar Leasing Market in North America is being driven by Increasing demand for tank cars due to growing crude oil production

The Railcar Leasing Market in North America is expected to grow at a CAGR of 9.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 8.30 billion. In the Railcar Leasing Market within North America, the longevity of railcars is a significant concern due to their continuous usage and exposure to various environmental factors. The deterioration of railcars, particularly tank cars, is a common issue, as they transport crude oil and its derivatives, which can react adversely with the metal surface. To mitigate such damage, the application of certified coatings, such as sulfuric acid, epoxy, and phenolic coatings, is essential. These coatings not only prevent corrosion but also ensure compliance with regulatory bodies like the Food and Drug Administration (FDA) and the National Science Foundation (NSF). Adherence to these standards is crucial to maintain the safety and efficiency of the railcar fleet. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Petroleum and chemical
  • Coal
  • Agricultural products
  • Others
• Product
  • Freight cars
  • Tank cars
  • Locomotives
• Geography
  • North America
    • Canada
    • Mexico
    • US

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for tank cars due to growing crude oil production
• Increasing expansion of railway network
• Cost advantages of railcar leasing

However, the market also witnesses some limitations, which are as follows:

• Risks associated with railcar leasing
• Declining demand for coal
• Stringent regulations for railcars

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Market Scope in Railcar Leasing Market in North America Research Report

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Research Analysis Overview

The railcar leasing market in North America is witnessing significant growth, driven by the freight transport sector in railroads. Tax incentives and insurance benefits are boosting the demand for railcar leasing services in the logistics industry. Global freight traffic sectors like petrochemicals, food products, and seafood are major consumers of freight cars. Emerging economies and industries such as chemical products, energy and coal, steel & mining, aggregates & construction are also increasing their usage of railcar leasing.

Market Research Overview

The Railcar Leasing Market in North America is a significant segment of the global diversified financial services industry, focusing on freight transport and logistics, particularly in the petrochemicals sector. This market is characterized by companies offering financial services, including banking, insurance, and capital markets. Technavio projects the growth of this market, driven by the digital transformation sweeping through the financial services sector. Companies are adopting advanced technologies and platforms to enhance operational efficiency and customer experience. The market's size is determined by the combined revenue generated from the provision of bonds and stocks.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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