Freight Rail Transport in China - Market Research Report (2014-2029)

The Freight Rail Transport industry is expected to generate $76.3 billion in 2024, up by 3.2% from 2023. Over the five years to 2024, industry revenue is expected to increase at a CAGR of 9.7%. In 2024, approximately 19 establishments operate in the industry, employing about 255,220 workers and paying total wages of $9.9 billion. In 2023, the freight transportation turnover by railway increased by 1.4%, to 3.6 trillion ton-kilometers, representing 14.7% of the total freight transportation turnover in China . Profit is expected to account for 7.5% of industry revenue in 2024. The Chinese Government has invested heavily to expand the railway network. The Government spent over $100 billion annually on railway construction in the past decade to 2023. By the end of 2023, the length of China's railways in operation had reached 159,000 kilometers, among which the length of high-speed railways in operation has reached 45,000 kilometers, China's railway transportation capacity increased greatly.In 2013, the railway freight transportation turnover only accounted for less than 2% of total social freight transportation turnover in China, and the proportion increased to 14.7% in 2023. With stable development of economy, railway transportation will give full play to its advantages in reducing social logistics costs. With the further market-oriented reform of railway freight transportation, railway transportation will make greater contribution to reducing social logistics costs.Over the next five years to 2029, the Chinese Government will open the railway construction industry to more private and foreign investment. The only industry operator, China Railway, will also implement reforms to rail transport pricing. These reforms could significantly affect the industry, as freight transport pricing is currently market driven. ACMR-�鶹�� forecasts that industry revenue will increase at a CAGR of 4.5% to reach $94.9 billion in 2029.