(EMAILWIRE.COM, November 26, 2018 ) Rail transportation companies are using alternative energy sources to operate their rolling stock and stations. Alternatives for diesel include hydrogen and LNG (already being tested by some rail operators) that can be used to power trains. The use of renewable energy sources is primarily driven by growing environmental concerns due to climate change and rising fears of energy security. For instance, The Netherlands national railway company Nederlandse Spoorwegen (NS) and electricity company Eneco is running all its trains on wind energy, since January 2017.
THE BUSINESS RESEARCH COMPANY EXPECTS THE TRANSPORTATION SERVICES MARKET TO GROW TO $7 TRILLION BY 2021
Asia Pacific was the largest region in the transportation services market in 2017, accounting for more than one-fifth of the market share. This was mainly due to a large population, presence of extensive public and private transportation network and government subsidies for transportation services.
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According to The Business Research Companys Consultant, Nitin Gianchandani, global airlines are focusing on alternate streams of revenue to increase revenues and profit margins by generating stream for air carriers is the sales of ancillary products and services across their value chain. Ancillary products and services include pre-checking of baggage, booking preferred seats, excess baggage and Wi-Fi connectivity. For instance, according to a report by IdeaWorksCompany, airlines globally made $40.5 billion in ancillary fees in 2015.
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China Railway Corporation was the largest player in the transportation services market in 2017, with revenues of $137 billion in 2016. China Railway Corporations growth strategy aims at expanding its network within and outside of China by forming strategic partnerships and increasing investments. In 2016, it entered into a collaboration with MTR, a Hong Kong-based transport operator to explore opportunities in high-speed railway line construction, rail operations and staff training. The company has also planned to invest $115 billion in 2017, for track-doubling, electrification and construction of new high-speed railway lines
The transportation services market includes general transportation, truck transportation, air transportation, rail transportation, transit and ground passenger transportation, warehousing and storage, water transportation, and pipeline transportation.
Transportation Services Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $8000 for an individual user. To use across your office, the price is $12000 and $16000 if you wish to use across a multinational company.
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