Current market situation and growth drivers

  • VTG is the clear market leader in the wagon hire business in Europe
  • Fleet of national railways often with high average age, only low investment in new wagons
  • Strong need for modernization of the railcar fleet in Europe
  • Private providers like VTG have been increasing their market share for years through investments
  • Growth potential stays high – predatory competition is far from being over


The liberalization and harmonization of the European rail freight transport market are key factors for VTG for ensuring sustainable growth. With the emergence of a unified, open European rail system, former monopolies are being dismantled and rail freight transport solutions are becoming generally more appealing. This process of radical change is giving VTG the opportunity to expand into new market segments and further consolidate what is already an extremely good market position. One initiative in this respect has been the gradual expansion and diversification of the original tank wagon fleet with the addition of both standard and sliding wall wagons. With the takeover of AAE at the beginning of 2015, VTG has also grown to become the largest provider of intermodal wagons. Suitable growth opportunities will also arise in the future in this market.

Of Europe's 700,000 freight wagons, more than 400,000 are still owned by state railways. Given the advanced age of many fleets, there is a great need for renewal. However, according to experts, a lack of capital and the prioritization of passenger transports mean that many state railways show little willingness to invest. This should prove advantageous for the growth of private wagon providers (such as VTG) in the next few years.

Wagon owners in Europe