Dublin, Feb. 22, 2024 (GLOBE NEWSWIRE) -- The "Australia Rail Freight Transport - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029" report has been added to ResearchAndMarkets.com's offering.
The Australia Rail Freight Transport Market size is estimated at USD 4.75 billion in 2024, and is expected to reach USD 6.54 billion by 2029, growing at a CAGR of 6.63% during the forecast period (2024-2029).
Considering the vastness of the nation, Australian freight supply networks are often extensive and diverse.
Key Highlights
- A supply chain, in its simplest form, is the web of people, businesses, goods, and services that collects raw materials converts them into finished goods and carries them to their destination. Producers, transporters, customs officers, traders, and inspectors are just a few of the many actors on which they rely. Transporting freight from farms, mines, cities, and ports to domestic and foreign markets will be made simpler by Rail transport.
- Freight forwarders frequently base their decisions on availability and cost when deciding whether to convey freight by road or rail. For the Inland Rail Service Offering, it is crucial that new intermodal terminals are built in Melbourne and Brisbane with enough room to accommodate double-stacked, high-performance trains. In order to complete the development and operation of the Melbourne and Brisbane intermodal freight terminals in time for the start of Rail's full operations, the National Intermodal Corporation will collaborate with the Commonwealth, State Governments, the Australian Rail Track Corporation (ARTC), and industry.
- Economic growth and signals for private sector investment must be supported by investments in Australia's freight-related infrastructure. With the help of the USD 44 million Inland Rail Interface Improvement Program, project ideas are being developed for more efficient supply chains based on rail and upgrades to intersecting national rail lines. In order to implement priority infrastructure projects under the Infrastructure Investment Program, the Australian Government provided USD 150 million in the 2022-23 Budget, building on the success of the II Program.
- Over 80% of Australia's rail freight is exported iron ore and coal, making rail the country's primary carrier of goods and accounting for about 49% of all domestic freight. The Transcontinental Rail Line, which connects the Eastern coastline with the West coast, is one of the largest freight trains in the world. It travels across Australia's immense landmass.
- Australian suppliers of rail technology, equipment, and solutions are open to considering opportunities to collaborate with and represent U.S. businesses because significant investment in Australia's freight and passenger rail infrastructure is expected to continue. In Australia, rail is a USD 26 billion contributor to the national economy and a leader in productivity, innovation, and best practises globally. Some of the heaviest and longest freight trains in the world travel on Australia's heavy haul railways.
Australia Rail Freight Transport Market Trends
Increasing rail investment infrastructure has given positive outlook to rail freight transport market
Australia is seeing unprecedented levels of infrastructure investment, which is anticipated to reach a peak of USD 36 billion in 2023. The majority of investment activity and resource demand will be concentrated on road and rail, with rail activity being the main driver of growth, according to Infrastructure Australia's "2021 Infrastructure Market Capacity" report. It is anticipated that transportation activity will increase 68% over the next five years compared to the preceding five. The transportation industry will account for more than 80% of total resource demands at its peak in 2022 to 2023.
The construction phase of the mining boom in the past has been a major driver of rail infrastructure investment, which has then been partially sustained by periods of strong extraction-based phases. Australians have significantly increased their desire for a rural lifestyle over the past five years as the trend toward working from home is fueled by technology and the worldwide pandemic. The local accessibility of smaller cities and regional hubs is considered as a key new driver of rail infrastructure investment in order to facilitate economic diversification and sustainable population expansion. State and territorial transportation authorities are pursuing urban transportation projects, while the National Faster Train Agency is creating business cases for a number of rail networks.
Growing in exports due to the mining industry has driven the market in Australia
Australia's economy is susceptible to commerce and is generally open. This means that changes in the demand for products and services in other nations could have a big impact on australia's economy. Large price increases for certain of Australia's exports of commodities were the primary cause of the terms of trade boom. Natural resources abound in Australia, with the fifth-largest coal reserves, the second-largest accessible reserves of iron ore, and sizable gas resources among them. The increase in global demand owed to a large increase in demand for steel and energy, driven by rapid urbanization and industrialization in China and some other emerging economies has increased dependency on the internal rail transport system.
The mining capital of Australia and a significant player in the global mining market is Western Australia (WA). It is home to some of the biggest mines in the nation as well as a significant number of high-grade materials. With numerous iron ore mines, particularly in the Pilbara region in the state's north, WA is the largest supplier of iron ore in the world. The mining sector in Australia accounts for 75% of exports, employs a sizeable portion of the workforce, and has a large positive impact on the country's improving standard of life, rising incomes, and thriving economy. Thus, an increase in global demand for Australia's exports and imports would lead excess trade activities driving the Australia rail freight transport market
Australia Rail Freight Transport Industry Overview
The majority of the Australian railway network infrastructure is held by the government, either at the federal or state level, with the exception of a small handful of privately owned railroads. Aurizon Holdings Limited, Pacific National Holdings Pty Ltd, Southern Shorthaul Railroad, SCT Logistic, KTI Transport are major market participants in Australia Rail Freight Transport Market.
The competition amongst service providers is further heightened by the strict regulatory requirements that must be met. Businesses participate in M&A transactions to develop their product lines and expand regionally.
A selection of companies mentioned in this report includes
- Aurizon Holdings Limited
- Pacific National Holdings Pty Ltd
- Southern Shorthaul Railroad
- SCT Logistic
- KTI Transport
- Wakefield Transport
- Innovation Transport Services
- FM Global Logistics
- Express-Link Global
- MYC International Logistics
For more information about this report visit https://www.researchandmarkets.com/r/ioyn1m
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