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Rail Greases Market to Hit US$ 420.27 Mn by 2027 | CAGR 2.4%

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Rail Greases Market to Hit US$ 420.27 Mn by 2027 | CAGR 2.4%

November 23
21:56 2021
Regular maintenance activities of different parts used in railway transportation to escalate rail greases market at 2.4% CAGR during 2019-2027

According to our latest market study on “Global Rail Greases Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product Type (Lithium Grease, Calcium Grease, and Other Grease), Application (Railway Vehicle Elements, Railway Track Elements, Switches and Fish Plates, Curve Rails, and Screw and Bolts), Distribution Channel (Online and Offline), and Geography,” the market was valued at US$ 341.37 million in 2018 and is projected to reach US$ 420.27 million by 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Strategic Insights

Report Coverage

Details

Market Size Value in

US$ 341.37 Million in 2018

Market Size Value by

US$ 420.27 Million by 2027

Growth rate

CAGR of 2.4% from 2019-2027

Forecast Period

2019-2027

Base Year

2019

No. of Pages

169

No. Tables

83

No. of Charts & Figures

81

Historical data available

Yes

Segments covered

Product Type , Application ; Distribution Channel , and Geography

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

 

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Grease is solid or semi-solid lubricating oil. It usually comprises mineral oil and thickeners such as calcium-based soap and lithium-based soaps. Greases may also contain additional lubricating particles, such as molybdenum disulfide, graphite, or polytetrafluoroethylene (PTFE). Different types of greases combine the lubricating properties of oils with added stickiness, which allows the lubricant to adhere to the surfaces better. Grease possesses characteristic feature such as high initial viscosity, which make it frictional. For rails, greases can be used in mechanisms where lubrication is required frequently and where lubricating oil does not stay for long. Greases act as a sealant to avert ingress of water and incompressible materials. Grease is also being used for maintenance of various rail elements such as railway axles & wheels, bearings & chains, brake elements, interior components, pantographs and railway track components, as it prevents entry of contaminants or loss of lubricant. 

Regular maintenance activities of different parts used in railway transportation to escalate rail greases market at 2.4% CAGR during 2019-2027

Railway vehicle elements such as axles & wheels, bearings & chains, brake elements, interior components, and pantographs need frequent maintenance and lubrication for smooth running and high performance. Applying greases on wheels offer various benefits such as it reduces labor costs, extends repair intervals, and reduces lubricant consumption. Using greases for railway vehicle elements offers various operation benefits such as increases equipment reliability, reduces unplanned downtime, reduces energy and fuel consumption, and improves equipment profitability. Moreover, greases can help in saving energy and reducing noise. The axle box bearing of a vehicle-track system is an important component of a railway and train bogie, which bears a variety of complicated stochastic loads between the track and bogie. The reliability and service life of axle box bearings can influence railway safety. Grease plays a major part in the lubrication of railway axlebox bearings as lubrication failures in axle box bearings can lead to accidents, such as hot axle cutting and bearing burnout. Apart from this, greases are also used in other railway components such as track components, brakes, and interior components. Greases used in the railway track components are designed to minimize friction, reduce temperature, and prevent wear between wheel flange and rails.

Impact of COVID-19 on Rail Greases Market:

The COVID-19 pandemic originated in Wuhan (China) in December 2019, and since then, it has spread across the globe at a fast pace. The US, Russia, India, Italy, China, Spain, France and Germany are among the worst-affected countries in terms confirmed cases and reported deaths as of July 2020. The pandemic has affected economies and industries due to enforced lockdowns, travel bans, and business shutdowns. After the spread of the COVID-19 outbreak, demand for rail greases has hampered across various regions due supply chain breaks, disruptions in manufacturing due to lockdown and office shutdowns as a result of this outbreak. The lockdown of various plants and factories in leading regions such as Asia Pacific and North America is affecting the manufacturing, delivery schedules, and sales of rail greases thus impacting the global rail grease market negatively.

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Rail Greases Market: Product Type

Based on product type, the rail greases market is bifurcated into lithium grease, calcium grease, and other grease. In 2018, the lithium grease segment dominated the global rail greases and is expected to grow at 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 others. 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.

Rail Greases Market: Competitive Landscape and Key Developments

Royal Dutch Shell Plc (Shell), Exxon Mobil Corporation, Total SA., BP Australia Pty Limited, Petroliam Nasional Berhad (Petronas), SKF Group, FUCHS, Chevron Corporation, Klüber Lubrication and Sinopec Corp. are among the well-established players in the global rail greases market.

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