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The railroad transportation market is expected to expand significantly during the forecast period, owing to the growing demand for the timely yet cost-effective distribution of goods by industries. Furthermore, the railroad transportation industry is experiencing tremendous growth as a result of the continuous boom of bulk goods transportation, transportation of coal, cars, and other heavy commodities. Furthermore, with the introduction of various transportation developments and the development of the logistics industry in developed countries, the railroad transportation market is projected to have new growth opportunities during the forecast period. Since railroad transportation cannot be used for goods transportation where land is not accessible, railroad transportation is not used for goods transportation between continents. Furthermore, in some situations, air freight becomes the quickest mode of transportation for goods. Furthermore, some consumer goods firms and businesses are less interested in rail transportation of goods because transportation of small quantities of goods is not always cost effective.
The growing focus of the leading players on expanding their presence across the key developing markets and increasing the variety of products is expected to significantly boost the industry growth over the forecast period. Union Pacific Railroad Company is a subsidiary of Union Pacific Corporation (NYSE: UNP). The Union Pacific Railroad, legally Union Pacific Railroad Company and simply Union Pacific, is a freight-hauling railroad that operates 8,300 locomotives over 32,200 miles routes in 23 U.S. states, west of Chicago and New Orleans. Union Pacific is the second largest railroad in the United States after BNSF. On 4th May 2021, Union Pacific revealed that it would build a new intermodal terminal in the heart of Southern California's import distribution market. It is the fastest developing industrial warehousing area in the United States and aims to be a pioneer in the industry. The new terminal, which will be located between the Ports of Los Angeles and Long Beach, will open in the second quarter of 2021, providing consumers with increased connections to Chicago and other important markets. Such efforts are responsible for the market growth.
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The major players in the global railroads market are Central Japan Railway Company, SNCF Group, Union Pacific Railroad Company, and JSC Russian Railways Logistics, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, technological advancements, and capacity expansions of the major players.
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