Rail Greases Market - Growth, Trends, and Forecast 2029
Posted by Divakar on December 8th, 2020
Factors such as increasing focus of railway operators on reducing operation as well as maintenance costs, and development of a number of high-speed and metro rail projects, are anticipated to create significant growth opportunities in the global rail greases market.
A new market research on the global rail greases market, published by Persistence Market Research (PMR), estimates that, the global demand for rail greases is anticipated to reach 56,000 tons by 2029.
Key Takeaways of Rail Greases Market Report
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“Growing focus on environment-friendly solutions has been driving manufacturers to develop biodegradable rail greases, which can attain 90-95% of biodegradability after application. Hence, biodegradable rail greases with a better friction coefficient are anticipated to gain momentum going forward,” says a PMR analyst.
Intensified and Fragmented Competition Landscape
The rail greases market is very fragmented, given the presence of a number of international and regional players. Players such as
are depending on their well-established sales and distribution networks to remain prominent players in the rail greases market. Other key players in the rail greases market, such as FUCHS LUBRITECH GmbH, Klüber Lubrication, The Timken Company, and SKF, are focusing on the development of biodegradable rail greases and acquisitions of complementary businesses to expand their product portfolio and sales network.
Sluggish Growth to Prevail throughout Forecast Period
Although rail greases are vital elements in railway operations and maintenance, the market is anticipated to register rather slow growth, owing to linear demand for rail greases for existing rail networks, and a number of railway expansion projects that are not expected to be completed in the next 4-5 years.
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About the AuthorDivakar
Joined: January 23rd, 2017
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