The rail greases market was valued at US$ 341.37 million in 2018 and is projected to reach US$ 420.27 million by 2027; it is expected to grow at a CAGR of 2.4% from 2019 to 2027. The scope of this study involves understanding the factors contributing to the market growth; it also includes estimating and forecasting the revenues, conducting the market share analysis, and spotting significant market players along with their key developments.

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 axle-box bearings as lubrication failures of 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. Greases are also used in screws and bolts used in the installation of railway track elements to protect them from rusting. Thus, the rail greases are mostly required for the maintenance activities and for smooth running and high performance of different parts such as railway vehicle components and railway track components. This fact has driven the market for rail greases during the forecast.

REGULAR MAINTENANCE ACTIVITIES OF DIFFERENT PARTS USED IN RAILWAY TRANSPORTATION IS EXPECTED TO BOOST RAIL GREASE MARKET

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the upcoming systems are introducing the deployment of cutting-edge technological solutions for the comfort and safety of commuters. Hence, the rail greases market is expected to experience rapid growth in the region. Furthermore, numerous government initiatives for digitization in the region’s conventional railway networks will also drive the rail greases market during the forecast period.

Impact of COVID-19 Pandemic on Rail Greases Market

The COVID-19 pandemic began in Wuhan (China) in December 2019, and since then, it has spread around the globe at a fast pace. COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global chemical and material industry are one of the major industries facing serious disruptions such as supply chain breaks, disruptions in manufacturing due to lockdown and office shutdowns as a result of this outbreak.  For instance, China is the global hub of manufacturing and the largest raw material supplier for various industries. The lockdown of various plants and factories in leading regions such as Asia Pacific and North America is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various goods.

Royal Dutch Shell Plc, Exxon Mobil Corporation, Total S.A., BP Australia Pty Limited, and Chevron Corporation are amongst the major market players operating in the global rail greases market. These companies provide rail grease products for diversified rail applications such as railway vehicle elements, railway track elements, switches, and fish plates, curve rails, screw, and bolts. These market players are highly focused on the development of high quality and innovative products to fulfill the customer’s requirements. The companies operating in the market have realized the immense potential pertaining to the rail greases market and were observed highly involved in strategies such as product launch and project finance.

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