The rail greases market in Europe is expected to reach US$ US$ 79. 43 million by 2027 from US$ 65. 40 million in 2018 and is expected to grow at a CAGR of 2. 3% from 2019 to 2027. Regular maintenance activities of different parts used in railway transportation is bolstering the growth of the rail greases market.
New York, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Rail Greases Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type, Application, and Distribution Channel (Offline and Online" - https://www.reportlinker.com/p05978860/?utm_source=GNW
Railway vehicle elements such as axles and 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 reduced labor costs, extended repair intervals, and reduced lubricant consumption.Moreover, using greases for railway vehicle elements offers equipment reliability, reduced unplanned downtime, reduced energy and fuel consumption, and improved equipment profitability.
Additionally, greases can help saving energy and reducing noise.The axle box bearing of a vehicle-track system is an essential 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 significant 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 applied on 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 smooth running and high performance of different parts such as railway vehicle components and railway track components. These facts are expected to drive the growth of the market during the forecast period. The surging demand for biodegradable rail greases is among the other factors expected to positively influence the growth of the rail greases market.
Based on product type, the Europe rail greases market is bifurcated into lithium grease, calcium grease, and other grease.The lithium grease segment led the Europe rail greases market in 2018.
Lithium grease is multi-purpose grease with a buttery texture and has a 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 railway parts 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 which will ultimately drive the Europe rail greases market.
COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.Further, in Europe, Italy is the worst-hit country due to the outbreak of COVID-19.
It is expected to suffer an economic hit due to a lack of revenue from various industries, as Italy recorded the highest number of COVID-19 cases. Other member states have also implemented drastic measures, which are anticipated to negatively impact the market growth in Europe.
The overall Europe rail greases market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the Europe rail greases market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe rail greases market. Royal Dutch Shell Plc, Exxon Mobil Corporation, Total SA, Petroliam Nasional Berhad (Petronas), FUCHS, SKF Group, Chevron Corporation, and Klüber Lubrication and Sinopec Corp. are among a few players operating in the Europe rail greases market.
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