Rail Greases Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type, Application ; Distribution Channel, and Geography
- July 2020 •
- 169 pages •
- Report ID: 5950867 •
- Format: PDF
Surging demand for biodegradable rail greases is expected to provide lucrative opportunities to the market players operating in rail greases market.Using grease in the railways and trains reduces surface damage and subsurface deformation of rail curves.
Most of these greases consist of petroleum hydrocarbons.After the operation, these lubricants fall on the railroad tracks and pollute the environment.
These greases do not decompose in natural conditions and damage ecosystems associated with the rail.Thus, to improve the ecological compatibility of works and equipment, new biodegradable, eco-friendly lubricants are developed by the key players operating in the market.
These biodegradable greases show high performance and their additives are either synthetic ester or vegetable oil based. It degrades sooner compared to its mineral oil-based alternatives and do not release harmful residues after use. Companies operating in the global rail greases market are focusing on development of such products through its constant research and development activities. For instance, in March 2018, the company Klüber Lubrication introduced biodegradable rail flank lubricating grease for stationary systems. Moreover, the manufacturers of these greases comply with environmental regulations. Thus, the demand for biodegradable greases is projected to boost during the forecast period due to increasing concern towards the environment.
Based on product type, the rail greases market is segmented into lithium grease, calcium grease, and other grease.In 2018, the lithium grease segment dominated the global rail greases market and is expected to grow at a fastest growth rate during the forecast period.
Lithium grease is multi-purpose type grease with a buttery texture and dropping point above 350°F.Moreover, it can also be used with occasional temperatures up to 300°F.
Lithium grease has excellent resistance to water and breakdown or softening.Lithium-based greases are the most commonly used in railway applications due to its higher melting point compared to other types of greases.
Lithium greases are used in various parts in railways and trains such as curved tooth coupling, cardan shaft, axle boxes, and brake system due to their high pumpability. Regular maintenance activities of different parts used in railway transportation is expected to drive the demand for lithium grease during the forecast period.
Geographically, the global rail grease market is segmented into North America, Europe, Asia Pacific (APAC), South America (SAM), and the Middle East and Africa (MEA).Asia Pacific has dominated the global rail greases market with highest market share and is estimated to be the fastest growing region during the forecast period.
The growth of the rail greases market in this region is attributed to booming economy, rapid urbanization, and growing investment by the government of emerging countries in the development of railway infrastructure.The countries across the region is experimenting with state-of-the-art transport technologies to make urban rail systems more efficient, reliable and passenger friendly.
The Asia Pacific metro systems are progressively moving from semi-automatic to driverless/unmanned train operations.Most of the upcoming systems are introducing the deployment of cutting-edge technological solutions for the comfort and safety of commuters.
Hence, the rail greases market is expected to experience rapid growth in the region during the forecast period. Furthermore, numerous government initiatives for digitization in the region’s conventional railway networks will also drive the rail greases market during the forecast period.
The COVID-19 pandemic began in Wuhan (China) in December 2019, and since then, it has spread around the globe at a fast pace.COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.
The global chemical and material industry are one of the major industries facing serious disruptions such as supply chain breaks, disruptions in manufacturing due to lockdown, and office shutdowns as a result of this outbreak.For instance, China is the global hub of manufacturing and the largest raw material supplier for various industries.
The lockdown of various plants and factories in leading regions such as Asia Pacific and North America is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various goods.
Royal Dutch Shell Plc, Exxon Mobil Corporation, Total SA, BP Australia Pty Limited, Petroliam Nasional Berhad (Petronas), FUCHS, SKF Group, Chevron Corporation, Klüber Lubrication, Sinopec Corp are among the key players present in the global rail grease market.
Overall size of the rail grease market has been derived in accordance with to both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants participating in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the rail grease market.