Rail Greases Market 2022
The global rail greases market is expected to be worth US$ 310 Mn by the year 2031. A new market research on the global rail greases market, published by Persistence Market Research (PMR), estimates that, the global demand for rail greases is anticipated to reach 56,000 tons by 2031.Rambling network of rail lines coupled with growing number of railroad activities are seen throughout. This trend is expected to continue even going forward.
Factors such as increasing focus of railway operators on reducing operation as well as maintenance costs, and development of a number of high-speed and metro rail projects, are anticipated to create significant growth opportunities in the global rail greases market.
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Key Companies-
- Royal Dutch Shell PLC (Shell)
- Exxon Mobil Corporation
- SKF
- FUCHS
- Chevron Corporation
- Idemitsu Kosan Co., Ltd.
- China Petroleum & Chemical Corporation
- L.B. Foster Company
- Momar, Inc.
- Brugarolas, S.A.
- SPMS Group
- Carl Bechem GmbH
- Kyodo Yushi Co., Ltd.
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Key Takeaways of Rail Greases Market Report
- Growing high-speed rail and metro rail projects in urban cities is one of the primary driving factors propelling the growth of the global rail greases market.
- Lithium grease is projected to remain the most preferred type for wheel bearing and rail track applications, due to its high temperature resistance. However, calcium grease and other types of greases such as sodium, calcium, and sulfonate are anticipated to witness elevated growth in demand due to their good water resistance, high drop point, and extreme pressure handling capabilities.
- Although biodegradable rail greases have limited adoption across the industry, they are anticipated to capture a greater market share during the forecast period.
- North America is projected to lead the market demand for rail greases, owing to its vast railway network, while China’s Belt Road Initiative is anticipated to create a number of market opportunities for rail greases across African and Asian countries.
- The railway vehicle elements segment is projected to hold an upper hand in terms of demand amongst the application types, given the number of components that require frequent lubrication for efficient functioning.
“Growing focus on environment-friendly solutions has been driving manufacturers to develop biodegradable rail greases, which can attain 90-95% of biodegradability after application. Hence, biodegradable rail greases with a better friction coefficient are anticipated to gain momentum going forward,” says a PMR analyst.
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Sluggish Growth to Prevail throughout Forecast Period
Although rail greases are vital elements in railway operations and maintenance, the market is anticipated to register rather slow growth, owing to linear demand for rail greases for existing rail networks, and a number of railway expansion projects that are not expected to be completed in the next 4-5 years.
Key Questions Answered in Report
- How much is the rail greases market expected to be worth?
- What will be the volume-wise forecast for the rail greases market?
- What was the last 5 year market CAGR?
- What are the key trends of the rail greases market?
- What is driving the demand for rail greases?
- What is the market share of top 5 players?
- What are the top 5 countries driving demand?
- What is the North America’s market Outlook?
- At what percentage XYZ is going to register growth in Europe?
- What is the key market statistics in Korea and Japan?
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