World's largest railway companies by market value 2024

Union Pacific is one of the leading railroad companies in the world, with an estimated market value of 149.46 billion U.S. dollars as of June 2024. 

North America leads the world's largest railway companies

With over 24 billion U.S. dollars in operating revenue, Union Pacific focuses on hauling freight like coal, industrial, chemical or agricultural products on the largest railway network in the world. Canadian National Railway came in second, valued at some 81 billion U.S. dollars. The railroad company is Canada’s largest railway freight provider, also hauling freight throughout the Midwestern and Southern parts of the U.S.. Overall, the five companies with the highest market capitalization as of June 2024 were all located in North America, in part due to the region's reliance on Class I freight railroads for trading across borders. Hong Kong's Mass Transit Railway (MTR) came sixth in the ranking, with a market valuation under half that of Canadian Pacific Railway. 

The U.S. rail industry

While only 0.55 percent of the United States' 2019 gross domestic product was invested in the construction and maintenance of its infrastructures, the high-speed rail line in California was one of the largest rail infrastructure projects worldwide as of February 2022, based on its value. The U.S. also relies heavily on rail freight to cover the country's large distances between urban areas: The mileage of Class I railroads amounted to 91,800 statue miles for 66 billion U.S. dollars in total operating revenue in 2020.