Rail Greases Market
Global Market Study on Rail Greases: Cutting-edge Innovations in Ingredients of Rail Greases Unthreading New Growth Opportunities
Rail Greases Market Segmented By Lithium Grease, Calcium Grease Product in Railway Vehicle Elements, Railway Track Elements, Switches and Fish Plates, Curve Rails, Screw and Bolts
Rail greases market is pegged to grow at a sluggish rate; therefore, leading players such as Royal Dutch Shell PLC and Exxon Mobil Corporation are focused on coming up with new categories of railway lubricants by changing the ration of ingredients. Bio-based products and perfluropolyether are some examples of new rail greases, which are expected to set a new benchmark in the global rail greases market.
Furthermore, rising demand for gauge face lubrication and growing demand for antifreeze rail greases across the globe are projected to drive the global sales of rail greases over the coming years.
Moreover, players are also making rail greases according to train types, such as for light rail metro trains - synthetic oil and calcium soap are referable lubricants.
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- Royal Dutch Shell PLC (Shell)
- Exxon Mobil Corporation
- 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.
Emerging Countries to Shape Global Rail Greases Market Growth
Emerging countries such as Brazil, India, and Indonesia are considered as growth-driving countries in the global rail greases market. Increasing number of railway projects and sprawling railway network with healthy growth rate are expected to fillip the global demand for rail greases over the coming years.
Moreover, rising digitalization and automation in existing railway networks is also accelerating the demand for rail greases. In addition, supportive government policies to make smart railway transportation and grow metro train transportation will also boost the demand for rail lubrication over the coming decades.
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Regular Maintenance and Servicing of Rail Lines and Vehicles
Railway is a vital means of transportation for passengers and cargo from one city to another. Constant movement of railways creates greater chances of wear and tear to parts as well as the tracks.
This creates the need for proper, constant, and timely lubrication of both, rail parts and railway vehicles, such as curved rails, axles & wheels, chains and bearings, among others. Thus, the need for constant and continuous maintenance of railways is projected to significantly drive the demand for rail greases.
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Global Rail Greases Market: Competitive Landscape
The rail greases market landscape is fragmented, with a large number of global players in the market, especially small- and medium-scale manufacturers and suppliers. Key participants in the rail greases market are Royal Dutch Shell PLC, Exxon Mobil Corporation, BP, and China Petroleum & Chemical Corporation, FUCHS LUBRITECH GmbH, Klüber Lubrication, and The Timken Company, among others.
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Acquisitions and Expansions Stay Prominent Strategies in Global Rail Greases Market
Over the last few years, the rail greases market has been witnessing an increase in the number of acquisitions and expansions by leading manufacturers in a bid to have a strong business footprint and maintain their brand value across the globe.
- In November 2019, The Timken Company acquired BEKA Lubrication (BEKA) for around US$ 165 Mn, aiming to diversify its lubrication and lubrication system offerings.
- On 21st January 2019, Momar, Inc. completed the acquisition of Specialty Products, Inc., a cleaning supplies and industrial maintenance company, to complement its business structure and product portfolio.
- In 2019, Petroliam Nasional Berhad (PETRONAS) introduced a new range of PETRONAS Syntium with °CoolTech™ to the Brazil market, bringing the latest ‘track-to-road technology’ in the most advanced engine lubricants to-date.
In the global rail greases market, leading players account nearly 1/3 share, with the remaining held by tier-2 and other players. As such, small-scale players can focus on tie-ups with leading players. This strategy has dual benefits, as small-scale players will get an opportunity to expand their global presence, while the leading players will strengthen their regional foothold.
Key Segments of Rail Greases Market
PMR’s study on the rail greases market is divided into four different segments - product type, application, distribution channel, and region. This report offers comprehensive data and information about the important rail greases market dynamics and growth parameters related to these categories.
Key Questions Answered in Report
- How much is the rail greases market expected to be worth?
The global rail greases market is expected to be worth US$ 310 Mn by the year 2031.
- What will be the volume-wise forecast for the rail greases market?
The rail greases market is expected to cross 56K tons by the year 2031.
- What was the last 5 year market CAGR?
The rail greases market recorded a CAGR of 0.3% between 2015 and 2020.
- What are the key trends of the rail greases market?
Rambling network of rail lines coupled with growing number of railroad activities are seen throughout. This trend is expected to continue even going forward.
- What is driving the demand for rail greases?
Quest for energy saving and inclination regarding noise control in railway system across the globe are driving the demand for rail greases all over.
- What is the market share of top 5 players?
The top 5 players – namely The Timken Company, Royal Dutch Shell Plc, Kluber Lubrication, Exxon Mobil Corporation, and FUCHS Lubritech GmbH contribute for more than 60% of the market share.
- What are the top 5 countries driving demand?
The top 5 countries driving the demand for rail greases include the US, UK, Brazil, Indonesia, and India.
- What is the North America’s market Outlook?
North America will continue to be a prominent revenue generator to the rail greases market.
- At what percentage XYZ is going to register growth in Europe?
Europe will grow at the rate of 0.2% in the rail greases market between 2021 and 2031.
- What is the key market statistics in Korea and Japan?
Japan and Korea will witness advanced versions of railway infrastructure in the upcoming period, thereby driving the rail greases market.