Europe Rail Greases Market Key Players and Opportunities by 2027

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.

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 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. Germany, France, UK, Russia, Italy and Rest of Europe are major economies in Europe. The western part of Europe is known for its better standards of living, with people displaying a higher income level. It is one of the wealthiest regions on the European continent, with per capita Gross Domestic Product Type (GDP) more than the other parts. Europe is a well-established and mature market for rail greases.

Increasing adoption of digital channels to increase customer reach is the key driver for the growth of the Europe rail greases market. The increasing adoption of digital channels across Europe has brought about an increased emphasis on online distributions channels. Internet usage and smartphone ownership rates are growing across Europe, and consumers are becoming more inclined to do everything from researching making their final purchase decision online. Several benefits, such as convenience, fast delivery, and secure payment options, have attracted B2B buyers to purchase online. Thus, the companies operating in the rail grease market have optimized their distribution strategy over the past few years to keep pace with the competition and continue to grow their businesses. The companies are adopting online distribution channels to target and reach a large number of customers in the market and their traditional offline distribution channels. Besides, online distribution channels help companies reach the target consumers quickly without adding additional costs and expenses. Thus, lubricants and grease manufacturers are leveraging the e-commerce industry to earn revenue by opening online stores and making sales through these channels.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the rail greases market. The Europe rail greases market is expected to grow at a good CAGR during the forecast period.

COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemical and material industry are one of the major industries suffering serious disruptions such as supply chain breaks, disruptions in manufacturing due to lockdown and office shutdowns as a result of this outbreak. All these factors have greatly affected the rail grease market. In Europe, Italy is the hardest-hit country by the coronavirus outbreak. It is expected to suffer an economic hit due to a lack of revenue from various industries, as Italy recorded the highest number of coronavirus cases. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe.

Europe Rail Greases Market Revenue and Forecast to 2027 (US$ Million)

Europe Rail Greases Market Segmentation

Europe Rail Greases Market – ByProduct Type

• Lithium Grease
• Calcium Grease
• Other Grease

Europe Rail Greases Market – By Application

• Railway Vehicle Elements
• Railway Track Elements
• Switches and Fish Plates
• Curve Rails
• Screw and Bolts

Europe Rail Greases Market – By Distribution Channel

• Offline
• Online

Europe Rail Greases Market – By Country

• UK
• Germany
• France
• Italy
• Russia
• Rest of Europe 

Europe Rail Greases Market-Companies Mentioned

• Royal Dutch Shell Plc
• Exxon Mobil Corporation
• Total SA
• Petroliam Nasional Berhad (Petronas)
• FUCHS
• SKF Group
• Chevron Corporation
• Klüber Lubrication
• Sinopec Corp.

Europe Rail Greases Report Scope