Yahoo Finance China-Europe Rail Freight Transport - Rapid Expansion by 2029
China Europe Rail Freight Transport Market Number Of Trains. China Europe Rail Freight In Units 2017 2022
Dublin, Feb. 26, 2024 (GLOBE NEWSWIRE) -- The "China-Europe Rail Freight Transport - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029" report has been added to ResearchAndMarkets.com's offering.
The China-Europe Rail Freight Transport Market size is estimated at USD 12.70 billion in 2024, and is expected to reach USD 40.30 billion by 2029, growing at a CAGR of 25.99% during the forecast period (2024-2029).
Key Highlights
The development of a rail network between China and Europe is part of the long-term strategy of the government of China, to achieve global connectivity through its One-Belt-One-Road (OBOR) initiative. The strategy aims to restore and develop the ancient Silk Road between China and Europe, by encouraging investment in Eurasian transport and logistics, including rail networks, to boost Chinese trade and investment and economic integration.
Owing to the rising capital costs and wages in coastal areas, many manufacturing and production companies are relocating their plants to inland cities in China, which are far away from the Chinese commercial coastal lines. The companies like HP find it difficult to export products to Europe since the commodities need to travel thousands of kilometres east to the seaports and ship them back to the west of Europe. The development of railroads has offered companies in reducing transit times and shipping of goods from the production site directly to the Countries in Europe.
According to China Railway, the trains have transported 972,000 twenty-foot equivalent units of cargo this year, a 5% increase from the same period last year. With 82 routes, the trains may now go to 200 cities across 24 nations in Europe, creating a transportation system that spans the whole continent. 53 different categories of goods, including grain and timber, apparel and accessories, and autos and parts, are all transported by trains. China has worked hard to boost train capacity by modernizing domestic transportation systems and coordinating infrastructure development with foreign railways. The average daily freight volume for the China-European freight train services on the eastern route increased by 41.3% from 2020 to 2022.
A selection of companies mentioned in this report includes
Deutsche Bahn AG (DB Group)
United Parcel Service Inc.
Russian Railways (RZD)
China Railway (CR) Corporation
JSC United Transport and Logistics Company
Deutsche Post DHL Group
Kerry Logistics
Far East Land Bridge Ltd
KORAIL
InterRail Group
Nunner Logistics
Kazakhstan Temir Zholy (KTZ)
Beijing Changjiu Logistics
Hellmann Worldwide Logistics
HLT International Logistics
DSV
Wuhan Han'ou International Logistics Co*
For more information about this report visit https://www.researchandmarkets.com/r/ph9j3d
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