Top players in the global rail lubricants market such as Exxon Mobil Corporation and Royal Dutch Shell PLC are strategically focused on the development of new categories of rail lubricants, such as bio-based lubricants, which are highly efficient as compared to synthetic products. Furthermore, players such as SKF Group and Loram Maintenance of Way Inc. are also installing railway lubrication systems beside railway networks to provide proper lubrication to curve rails and top-of-rails. This is expected to boost the global sales of rail lubricants over the forecast period. Moreover, rising demand for antifreeze rail lubricants in colder countries such as Canada, Russia, and the U.S. is also expected to support demand in the rail lubricants market in the foreseeable future.
New Railway Projects in Developing Countries to Propel Market Growth
Brazil, Indonesia, and India are considered as emerging countries in the rail lubricants market, on account of the sprawling railway network anticipated to develop in the foreseeable future in these countries. Automation and digitalization in the current railway network is expected to boost the demand for rail lubricants over the coming years. Government policies for a smart and intelligent railway network across the world are anticipated to provide bilateral support for the growth of the railway lubricants market on a global scale.
Regular Maintenance and Constant Consumption to Offer Substantial Prospects for Global Players
The railways plays an important part in the transportation of both, cargo and passengers, and frequent movement leads to wear and tear of rail tracks as well as railway components. Railway tracks and rolling stock components, and locomotive engine parts such as traction motors, bearings, and gears, require timely and proper maintenance and servicing. Leading players such as HP Lubricants strive to produce and sell railway lubricants along with locomotive engine oil lubricants. However, small-scale players focus only on the production and sales of lubricants specifically meant for railway tracks and railway bogie components.
Global Rail Lubricants Market: Competitive Landscape
The rail lubricants market landscape is moderately fragmented, with numerous global players in the market, especially small- and medium-scale manufacturers and suppliers. Key participants in the rail lubricants market are Royal Dutch Shell PLC, Exxon Mobil Corporation, BP, and China Petroleum & Chemical Corporation, FUCHS LUBRITECH GmbH, Klüber Lubrication, and The Timken Company.
Expansion and Product Launches to Remain Key Market Strategies
Over the last five years, key players in the rail lubricants market have been focusing on expansion and product launches, and these are expected to be winning strategies in the foreseeable future. Owing to the constant demand for rail lubricants, small-scale players are focusing on a similar strategy used by leading players to develop their businesses.
Most manufacturers in the rail lubricants market are shifting their focus toward bio-based rail lubricant product offerings. PMR has identified developing nations such as India and Brazil to be the most lucrative markets, attributable to the growing metro train networks in these countries. On the flip side, the rail network in U.S is very old, necessitating continuous maintenance and servicing. This is anticipated to offer significant opportunities to suppliers in the rail lubricants market.
Rail Lubricants Market - Scope of the Report
Persistence Market Research recently published a research report on the rail lubricants market, which includes global industry analysis for 2014-2018 and forecasts for 2019-2029. The report offers a detailed value-volume analysis of the rail lubricants market, along with insights via BPS analysis in (US$ Mn), market attractiveness analysis, and Y-o-Y growth on the basis of composition, application, distribution channel, and region. The volume analysis of the rail lubricants market has been considered in Mn Litre, and data has been provided for the historical period ranging from 2014-2018 and forecast period up to 2029, with 2018 as the base year. In this research report, PMR considers only oil-based rail lubricants, and the team has excluded semi-solid rail lubricants.
In addition to the quantitative analysis provided by market size estimates and growth trends, the report on the global rail lubricants market also provides qualitative analysis through market dynamics such as drivers, restraints, trends, opportunities, forecast factors, macroeconomic factors, key success factors, market definition, value chain, and other factors that influence and impact the global rail lubricants market.
The report on the global rail lubricants market strives to provide insights about the market size and its associated development for interested stakeholders. Marketing and business intelligence has been facilitated through information based on the competition landscape, business strategies, key demand-side trends, product life cycle, and a list of market participants with relevant information on rail lubricants. PMR has not only presented the research findings, but also added suitable recommendations and market dynamics that can be helpful for market entry, business development, and sustenance in the rail lubricants market.
Key Segments of Rail Lubricants Market
PMR has divided the rail lubricants market into four different segments for the purpose of this report - composition, application, distribution channel, and region. This enables the readers to gain comprehensive data and information about the important rail lubricants market dynamics and growth parameters related to these categories.
Key Questions Answered in PMR’s Rail Lubricants Market Report
Rail Lubricants Market: Research Methodology
In PMR’s global rail lubricants report, an exclusive research methodology is utilized to conduct comprehensive research on the development of the rail lubricants market and reach conclusions on the future growth prospects of the market. In this research methodology, secondary and primary research is utilized by our analysts to ensure precision and reliability of the conclusions.
Secondary resources referred by analysts during the evaluation of the rail lubricants market study include facts and figures from World Bank, manufacturer websites, government websites, white papers, trade journals, and external and internal databases. Our analysts have thoroughly interviewed several rail Lubricants industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, and production managers to provide insightful information.
Comprehensive information acquired from primary resources and secondary resources is validated from companies in the rail lubricants market to make PMR’s projection on the growth prospects of the rail lubricants market more accurate and reliable.