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Rail Tank Cars Market Share

Report ID: GMI11832
Published Date: Oct 2024
Report Format: PDF

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Rail Tank Cars Market Share

Rail Tank Cars Company Market Share, 2023

The Greenbrier Companies, GATX Corporation, and Union Tank Car Company (UTLX) collectively held a substantial market share of over 16% in the rail tank cars industry in 2023. Greenbrier is expanding its railcar manufacturing capabilities with a strong emphasis on sustainability, particularly in developing lightweight and energy-efficient tank cars. Additionally, the company is investing in advanced railcar management services and leasing solutions. This strategy aims to enhance customer support and operational efficiency while capitalizing on the growing demand for safer, environmentally friendly railcars.

GATX is prioritizing long-term leasing solutions and fleet optimization, ensuring a diversified tank car portfolio that meets various industry needs. The company is enhancing its asset management capabilities through digital tools and analytics. Furthermore, GATX is committed to maintaining strong customer relationships and investing in modern, compliant tank cars to address evolving safety regulations and market demands.

UTLX is focused on designing and manufacturing high-quality, compliant tank cars for a wide range of industries. The company is investing in research and development to improve the safety and durability of its fleet. Additionally, UTLX emphasizes fleet management services, offering maintenance, repair, and leasing solutions to enhance customer satisfaction and meet regulatory standards.

Rail Tank Cars Market Companies

Major players operating in the rail tank cars industry are:

Alstom
CRRC
FreightCar America
GATX
National Steel Car
The Greenbrier Companies
Trinity Industries
Union Tank Car Company (UTLX)
VTG
Wabtec

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of rail tank cars reached USD 5.7 billion in 2023 and is set to grow at a 4.5% CAGR from 2024 to 2032, driven by rising global energy demand, particularly for crude oil, LPG, and chemicals.

Pressurized rail tank cars held around 57% of the market share in 2023, owing to their capability to transport hazardous, volatile, and liquefied gases under high pressure.

The North America market accounted for over 45% of the market share in 2023 and is poised to exceed USD 4 billion by 2032, led by the extensive rail network in the U.S. and the rising demand for bulk transportation of oil, chemicals, and industrial liquids.

Major players in the industry include Alstom, CRRC, FreightCar America, GATX, National Steel Car, The Greenbrier Companies, Trinity Industries, Union Tank Car Company (UTLX), VTG, and Wabtec.