Rail - Jamaica | Statista Market Forecast

Transportation intensity in Jamaica is projected to amount to 0.03TKM/GDP in 2024..
Volume of goods transported in the Rail market is projected to amount to 530.90m TKM in 2024.
Number of container transported in in Jamaica is projected to amount to 140.50k TEU in 2024.

Definition

The Rail Transportation market involves the movement of goods by rail between businesses, manufacturing facilities, and distribution centers. The key feature of rail transportation is its capacity to handle heavy and bulk cargoes, making it well-suited for various industries, such as manufacturing, agriculture, and natural resources. Rail networks often connect major industrial hubs, providing businesses with a reliable and sustainable mode of transportation. The ability to transport goods in large volumes contributes to economies of scale, enhancing the overall efficiency of supply chain operations.

Additional Information

The Rail Transportation market covers CO2 emissions, volume of goods transported, and transportation intensity. Key players in the Rail Freight market include major rail operators, freight rail companies, and logistics providers specializing in rail-based cargo transportation. These companies play a crucial role in shaping the market dynamics, improving efficiency, and advancing technological innovations in rail freight operations.

Rail freight transportation

Non-rail freight transportation
Passenger transportation

Rail transportation stands out for its efficiency in moving large quantities of freight across extensive distances, especially excelling in transporting bulk goods like coal, minerals, and manufactured products. Its strength lies in efficiently moving heavy and bulky goods, making it an economical choice for certain industries, particularly due to its capacity for large-volume journeys.

Part of intermodal transportation networks, rail collaborates with other modes like trucks and ships, optimizing the movement of goods over various distances. Recognized for its environmental friendliness, especially for long-haul freight, trains exhibit lower fuel consumption per ton-mile compared to trucks.

Extending across countries and continents, rail networks play a crucial role in international trade, connecting regions and offering an alternative to maritime transportation for specific cargo types. Despite its strengths, rail transportation faces challenges such as competition from other modes, aging infrastructure, and the necessity for continuous modernization. Opportunities for growth lie in expanding high-speed rail networks and embracing digitalization.

As a vital component of the broader transportation industry, rail transportation contributes efficiently and sustainably to the movement of goods and passengers. The sector continually evolves to meet the changing demands of the global economy.

Data coverage:

The data encompasses B2B enterprises. Figures are based on the activities of the Rail freight market.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting transportation activity due to the non-linear growth of this market

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

As a result of strict precautionary measures and reduced trains in operation since March 2020, rail transport reduced significantly worldwide during the COVID-19 pandemic. The impact on rail freight was intensified by a global drop in goods production as well as demand due to national lockdowns. By April 2020, monthly rail freight intermodal traffic in the United States had dramatically slumped to 937,000 carloads, compared to over 1.1 million carloads across the same month the year before. Europe faired similarly, with a dip in freight volume of around 20 percent year-over-year in April 2020, and overall recovery was slow worldwide.