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)
Number of Pages: 88
Market Introduction
Grease is a solid or semi-solid lubricating oil. It is usually comprised of 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). Grease possesses characteristic feature such as high initial viscosity, which make it frictional. It is popularly used across various industries such as automobile, railway, construction, pharmaceutical, food & beverage, mining and numerous others. For rails, greases can be used in mechanisms where lubrication is required frequently and where a lubricating oil does not stay for long. Grease acts 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. Soft grease used in gearboxes, for noise reduction, as leakage resistant, and for suspension of solid additives. Greased components consumes a small amount of power and is an even less vulnerable impact to any wear tear damage. Thus, the regular maintenance activities of different parts used in railway transportation is expected to create a significant demand for rail greases in the coming years, which is further anticipated to drive the rail greases market.
Market Overview and Dynamics
The rail greases market in North America 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. Using grease in the railways and trains reduces surface damage and subsurface deformation of rail curves. Most of these greases consist of petroleum hydrocarbons. After the operation, these lubricants fall on the railroad tracks and pollute the environment. These greases do not decompose in natural conditions and damage ecosystems associated with the rail. Thus, to improve the ecological compatibility of works and equipment, new biodegradable, eco-friendly lubricants are developed by the key players operating in the market. These biodegradable greases are high performing and their additives are either synthetic ester or vegetable oil based. It degrades sooner compared to its mineral oil-based alternatives and do not release environmentally harmful residues after use. Companies operating in the North America Rail Greases Market are focusing on development of such products through its constant research and development activities. For instance, in March 2018, the company introduces biodegradable rail flank lubricating grease for stationary systems. Moreover, the manufacturers of these greases comply with environmental regulations. Thus, the demand for biodegradable greases is projected to boost over the forecast period due to increasing concern towards the environment 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.
Key Market Segments
In terms of product type, the lithium grease segment accounted for the largest share of the North America Rail Greases Market in 2018. In terms of application, the railway vehicle elements segment held a larger market share of the rail greases market in 2018. Further, the offline segment held a larger share of the market based on distribution channel in 2018.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the rail greases market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Royal Dutch Shell Plc, Exxon Mobil Corporation, Total SA, Petroliam Nasional Berhad (Petronas), FUCHS, SKF Group, Chevron Corporation, Klüber Lubrication and Sinopec Corp. among others.
Reasons to buy report
NORTH AMERICA RAIL GREASES MARKET SEGMENTATION
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 74.62 Million |
| Market Size by 2027 | US$ 92.46 Million |
| CAGR (2019 - 2027) | 2.5% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Rail Greases Market is valued at US$ 74.62 Million in 2018, it is projected to reach US$ 92.46 Million by 2027.
As per our report North America Rail Greases Market, the market size is valued at US$ 74.62 Million in 2018, projecting it to reach US$ 92.46 Million by 2027. This translates to a CAGR of approximately 2.5% during the forecast period.
The North America Rail Greases Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Rail Greases Market report:
The North America Rail Greases Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Rail Greases Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Rail Greases Market value chain can benefit from the information contained in a comprehensive market report.
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