Asia Pacific Rail Greases Market
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). 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 features 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 frequently required, and lubricating oil does not stay for long. Grease acts as a sealant to avert ingress of water and incompressible materials. Soft grease is used in gearboxes, noise reduction, leakage resistance, and suspension of solid additives. Greased components consume a small amount of power and are an even less vulnerable impact to any wear tear damage. The demand of greases in the railway industry is growing due to the development of new railway infrastructure across significant countries such as the China, India and Rest of APAC coupled with the maintenance activities of different parts used in railway transportation.
Strategic insights for the Asia Pacific Rail Greases provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 139.70 Million |
| Market Size by 2027 | US$ 176.93 Million |
| Global CAGR (2019 - 2027) | 2.8% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Rail Greases refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The rail greases market in APAC is expected to reach US$ 176.93 million by 2027 from US$ 139.70 million in 2018 and is expected to grow at a CAGR of 2.8% from 2019 to 2027. Regular maintenance activities of different parts used in railway transportation is the key factor driving the APAC rail greases market. 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 axlebox 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.
The COVID-19 is anticipated to cause a loss of more than 3 Billion in the APAC region. The consequence and impact can be even worse and totally depends on the spread of the virus. The government of APAC is taking possible steps to reduce its effects by announcing lockdown, and thus, impact the revenue generated by the market. The Airports Council International (ACI) Asia-Pacific warned that the prolonged duration of the coronavirus (COVID-19) outbreak would drastically impact the region’s airports’ connectivity and economic sustainability, significantly restricting them from achieving previously forecasted growth prospects. Such closures are anticipated to negatively impact market growth in the coming period. Till now, China has the highest number of COVID -19 confirmed cases.
In terms of product type, the lithium grease segment accounted for the largest share of the APAC 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. The offline segment dominated the APAC Rail Greases market whereas the online segment is expected to grow at fastest growth rate during the forecast period of 2019-2027.
A few major primary and secondary sources referred to for preparing this report on the rail greases market in APAC 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, BP Australia Pty Limited ,Total SA, Petroliam Nasional Berhad (Petronas), FUCHS, SKF Group, Chevron Corporation, Klüber Lubrication and Sinopec Corp. among others.
The Asia Pacific Rail Greases Market is valued at US$ 139.70 Million in 2018, it is projected to reach US$ 176.93 Million by 2027.
As per our report Asia Pacific Rail Greases Market, the market size is valued at US$ 139.70 Million in 2018, projecting it to reach US$ 176.93 Million by 2027. This translates to a CAGR of approximately 2.8% during the forecast period.
The Asia Pacific 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 Asia Pacific Rail Greases Market report:
The Asia Pacific Rail Greases Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Rail Greases Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Rail Greases Market value chain can benefit from the information contained in a comprehensive market report.
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