Report : North America Rail Greases Market Forecast to 2027 - COVID-19 Impact and Regional 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), and Distribution Channel (Offline and Online)
Railway Vehicle Elements Segment to Dominate North America Rail Greases Market during 2019–2027
According to a new market research study on “North America Rail Greases Market Forecast to 2027 – COVID-19 Impact and 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), and Distribution Channel (Offline and Online),” is expected to reach US$ 92.46 million by 2027 from US$ 74.62 million in 2018 and is expected to grow at a CAGR of 2.5% from 2019 to 2027. The report provides trends prevailing in the North America Rail Greases Market along with the drivers and restraints pertaining to the market growth.
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 is the major factor driving the growth of the North America rail greases market. However, stringent environmental and continuous reforms by governments hinder the growth of North America rail greases market.
Based on application the rail greases market is divided into railway vehicle elements, railway track elements, switches and fish plates, curve rails, screw and bolts. The railway vehicle elements segment dominated the North America rail greases market whereas the curve rails segment is expected to grow at fastest growth rate during the forecast period of 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. This further propels the demand for rail greases used in the railway vehicle elements. Moreover, as the demand for railway vehicle elements increases, the need for rail greases also increases. The rail grease market is driven by developments in the railway industry in developed and developing countries such as US, Canada and Mexico. Also, rapid growth in population, intercity trade and commuting, upcoming metro projects, and extension of existing lines are projected to propel the demand for rail grease across North America.
COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. In North America, the US has the highest number of confirmed cases of coronavirus, as, compared to Canada and Mexico. This is likely to impact the rail transport in the country as, due to the COVID-19 outbreak, the supply and distribution chain is likely to get affected. In addition, the overall manufacturing processes, research, and development activities will also impact market growth.
Royal Dutch Shell Plc, Exxon Mobil Corporation, Total SA, Petroliam Nasional Berhad (Petronas), FUCHS, SKF Group, Chevron Corporation, Klüber Lubrication and Sinopec Corp. are among the leading companies in the North America rail greases market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, FUCHS announced the grand opening of a new $26 million grease manufacturing plant, research laboratory and warehouse near Chicago.
North America Rail Greases Market, By Country, 2018 and 2027 (%)
The report segments the North America rail greases market as follows:
By Product Type
- Lithium Grease
- Calcium Grease
- Other Grease
- Railway Vehicle Elements
- Railway Track Elements
- Switches and Fish Plates
- Curve Rails
- Screw and Bolts
By Distribution Channel
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