The railcar mover market has been growing at a steady pace. Moreover, rising economic activities and rapid industrialization across the various regions globally are expected to boost the market in future. Rise in economic prosperity, GDP gains and rapid industrialization in developed countries in APAC and RoW poised the growth of the market during the forecast period from 2014 to 2020.
The rapid expansion of crude oil production in North America has increased the usage of railroad tank cars to carry crude to refineries. Asia Pacific railcar mover market is expected to grow at a CAGR of 1.33% during the period 2014 to 2020. The rising economy, high disposable income and GDP gains further drove the industrialization in Asia Pacific. Increasing expenditure for logistics in crude oil, natural gas and mining industry is one of the major factor boosted growth of the railcar mover in Middle East market. The global railcar mover market is highly concentrated among players such as Trackmobile, Shuttlewagaon, Railking and other players, who have substantial presence across the U.S., Canada, Europe, and Asia Pacific.
North America accounted for the largest market share in 2013, which is expected to lure heavy investment and at the same time high end research is expected to be carried out in the field of railcar mover. The increase in production of oil, natural gas, renewable, coal, and other liquid bio-fuels further spurred growth of the railcar movers market in North America. Key manufacturers of railcar movers in North America include Trackmobile, Railking, and Shuttlewagon.