According to new research from Market Reports World, the railcar leasing market in North America is expected to grow at a CAGR of 9.01% from 2017 to 2021.

The railcar leasing market is involved in the leasing of railcars to shippers and rail freight operators. The contract term varies from two to 20 years. The contract is made under a given lease rate that provides the lessors with the expected amount of returns over the duration. The majority of railcars are private cars owned by the railcar leasing companies that are leased to the rail freight operators and shippers. Railcar leasing companies enter a lease contract with the lessees (shippers and freight operators), which can be for a duration of two to five years or even for 20 years. The contract is made under a given lease rate, which provides the lessors with the expected amount of returns over the duration.

GATX, Trinity Industries, CIT, American Railcar Industries, C.K. Industries, Chicago Freight Car Leasing, Compass Capital, Connell Finance, Wells Fargo Rail and GLNX are the top railcar leasing companies in the region, according to the report.