The rail greases market in APAC is expected to reach US$ 176.9 million by 2027 from US$ 139.7 million in 2018 and is expected to grow at a CAGR of 2.8% 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. Grease possesses characteristic feature such as high initial viscosity, which make it frictional. Grease is being used for maintenance of various rail elements such as railway axles & wheels, bearings & chains, brake elements, interior components, pantographs and railway track components, as it prevents entry of contaminants or loss of lubricant. Soft grease used in gearboxes, for noise reduction, as leakage resistant, and for suspension of solid additives. Greased components consumes a small amount of power and is an even less vulnerable impact to any wear tear damage. Besides, 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. The demand of greases in railway industry is growing due to the development of new railway infrastructure across major countries such as the China, India and Rest of APAC coupled with the maintenance activities of different parts used in railway transportation.Australia, China, India, Japan, South Korea and Rest of APAC are major economies in APAC. China has dominated the APAC rail greases market with highest market share and India is estimated to be the fastest growing country during the forecast period. The growth of the rail greases market in China and India is primarily due to booming economy, rapid urbanization and growing investment by the government of emerging countries in the development of railway infrastructure. The countries are experimenting with state-of-the-art transport technologies to make urban rail systems more efficient, reliable and passenger friendly.
Digitalization is changing the APAC region economy at a growing rate and is transforming traditional setups and established processes to a profitable model on a long-term basis. For railways, the main impact of digitalization is on the model of operation. Technologies like artificial intelligence, big data and cloud computing, connectivity and autonomous driving will affect the industry. The rail industry use these technologies effectively to identify the maintenance activities, to monitor operation of each component in the rail network and preventive measures for particular mishap in terms of operation. Based on such results the rail industry can estimate the demand of lubricants and greases, replacement of components or maintenance of particular units in advance. This will help the rail industry to save cost and avoid disruptions in services. In addition, the adoption of new technologies will help in optimizing infrastructure and operating costs and increasing network capacity without building new infrastructure. Thus, digitization in the conventional railway networks supports the growth of rail greases and lubricants market indirectly. 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 APAC rail greases market is expected to grow at a good CAGR during the forecast period.
Moreover,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. 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 supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various goods. All these factors have greatly affected the rail grease market. The COVID-19 is anticipated to cause a loss of more than 3 Billion in the Asia Pacific region. The consequence and impact can be even worse and totally depends on the spread of the virus. The government of Asia Pacific 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) APAC 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.
APAC Rail Greases Market Revenue and Forecast to 2027 (US$ Million)
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APAC Rail Greases Market Segmentation
APAC Rail Greases Market – ByProduct Type
- Lithium Grease
- Calcium Grease
- Other Grease
APAC Rail Greases Market – By Application
- Railway Vehicle Elements
- Railway Track Elements
- Switches and Fish Plates
- Curve Rails
- Screw and Bolts
APAC Rail Greases Market – By Distribution Channel
- Offline
- Online
APAC Rail Greases Market – By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Rail Greases Market -Companies Mentioned
- Royal Dutch Shell Plc
- Exxon Mobil Corporation
- BP Australia Pty Limited
- Total SA
- Petroliam Nasional Berhad (Petronas)
- FUCHS
- SKF Group
- Chevron Corporation
- Klüber Lubrication
- Sinopec Corp.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Application, and Distribution Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 APAC Market Segmentation
1.3.1 APAC Rail Greases Market – By Product Type
1.3.2 APAC Rail Greases Market – By Application
1.3.3 APAC Rail Greases Market – By Distribution Channel
1.3.4 APAC Rail Greases Market – By Country
2. APAC Rail Greases Market – Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. APAC Rail Greases– Market Landscape
4.1 Overview
4.2 APAC PEST Analysis
4.3 Expert Opinion
5. APAC Rail Greases – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Requirement Of Rail Greases For Maintenance Activities And High Performance Of Different Parts
5.1.2 More Focus On E-Commerce Industry To Increase Customer Reach
5.2 Key Market Restraints
5.2.1 Stricter Environmental and Continuous Reforms By Governments
5.3 Key Market Opportunities
5.3.1 Increasing Demand for Biodegradable Rail Greases
5.4 Future Trends
5.4.1 Adoption Of New Technologies Such As Digitization In The Conventional Railway Networks
5.5 Impact Analysis
6. Rail Greases Market – APAC Analysis
6.1 APAC Rail Greases Market Revenue Forecasts And Analysis
6.2 APAC rail greases Market, By Country - Forecasts And Analysis
6.3 Market Positioning of Key Players
7. APAC Rail Greases Market Analysis – By Product Type
7.1 Overview
7.2 APAC: Rail Greases Market, by Product Type
7.3 Lithium Grease
7.3.1 Overview
7.3.1.1 Lithium Grease: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
7.4 Calcium Grease
7.4.1 Overview
7.4.1.1 Calcium Grease: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
7.5 Other Grease
7.5.1 Overview
7.5.1.1 Other Grease: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
8. APAC Rail Greases Market Analysis – By Application
8.1 Overview
8.2 APAC Rail Greases market, By Application (2018 and 2027)
8.3 Railway Vehicle Elements
8.3.1 Overview
8.3.1.1 Railway Vehicle Elements: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
8.4 Railway Track Elements
8.4.1 Overview
8.4.1.1 Railway Track Elements: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
8.5 Switches and Fish Plates
8.5.1 Overview
8.5.1.1 Switches and Fish Plates: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
8.6 Curve Rails
8.6.1 Overview
8.6.1.1 Curve Rails: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
8.7 Screw and Bolts
8.7.1 Overview
8.7.1.1 Screw and Bolts: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
9. APAC Rail Greases Market Analysis – By Distribution Channel
9.1 Overview
9.2 APAC Rail Greases Market, By Distribution Channel (2018 and 2027)
9.3 Online
9.3.1 Overview
9.3.1.1 Online: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
9.4 Offline
9.4.1 Overview
9.4.1.1 Offline: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
10. APAC Rail Greases Market – Country Analysis
10.1 Overview
10.1.1 APAC : Rail Greases Market –Revenue, and Forecast to 2027 (US$ Million)
10.1.2 APAC : Rail Greases Market, by Key Country
10.1.1.1 Australia: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.1.1 Australia: Rail Greases Market, by Product Type
10.1.1.1.2 Australia: Rail Greases Market, by Application
10.1.1.1.3 Australia: Rail Greases Market, by Distribution Channel
10.1.1.2 China: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.2.1 China: Rail Greases Market, by Product Type
10.1.1.2.2 China: Rail Greases Market, by Application
10.1.1.2.3 China: Rail Greases Market, by Distribution Channel
10.1.1.3 India: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.3.1 India: Rail Greases Market, by Product Type
10.1.1.3.2 India: Rail Greases Market, by Application
10.1.1.3.3 India: Rail Greases Market, by Distribution Channel
10.1.1.4 Japan: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.4.1 Japan: Rail Greases Market, by Product Type
10.1.1.4.2 Japan: Rail Greases Market, by Application
10.1.1.4.3 Japan: Rail Greases Market, by Distribution Channel
10.1.1.5 South Korea: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.5.1 South Korea: Rail Greases Market, by Product Type
10.1.1.5.2 South Korea: Rail Greases Market, by Application
10.1.1.5.3 South Korea: Rail Greases Market, by Distribution Channel
10.1.1.6 Rest of APAC: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.6.1 Rest of APAC: Rail Greases Market, by Product Type
10.1.1.6.2 Rest of APAC: Rail Greases Market, by Application
10.1.1.6.3 Rest of APAC: Rail Greases Market, by Distribution Channel
11. Impact of COVID-19 Pandemic on APAC Rail Grease Market
11.1 APAC: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Product News
12.2 Project Finance
13. Company Profiles
13.1 Royal Dutch Shell Plc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 SWOT Analysis
13.2 Exxon Mobil Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 SWOT Analysis
13.3 BP Australia Pty Limited
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.4 Total SA
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 SWOT Analysis
13.5 Petroliam Nasional Berhad (Petronas)
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 SWOT Analysis
13.6 FUCHS
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 SWOT Analysis
13.6.5 Key Developments
13.7 SKF Group
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 SWOT Analysis
13.8 Chevron Corporation
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 SWOT Analysis
13.9 Klüber Lubrication
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 SWOT Analysis
13.9.5 Key Developments
13.10 Sinopec Corp.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 SWOT Analysis
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. APAC Rail Greases market Revenue And Forecasts To 2027 (US$ Mn)
Table 2. APAC: Rail Greases Market, by Product Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. APAC: Rail Greases Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 4. APAC : Rail Greases Market, by Distribution Channel – Revenue and Forecast to 2027 (US$ Million)
Table 5. Australia: Rail Greases Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 6. Australia: Rail Greases Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 7. Australia: Rail Greases Market, by Distribution Channel –Revenue and Forecast to 2027 (US$ Million)
Table 8. China: Rail Greases Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 9. China: Rail Greases Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 10. China: Rail Greases Market, by Distribution Channel –Revenue and Forecast to 2027 (US$ Million)
Table 11. India: Rail Greases Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 12. India: Rail Greases Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 13. India: Rail Greases Market, by Distribution Channel –Revenue and Forecast to 2027 (US$ Million)
Table 14. Japan: Rail Greases Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 15. Japan: Rail Greases Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 16. Japan: Rail Greases Market, by Distribution Channel –Revenue and Forecast to 2027 (US$ Million)
Table 17. South Korea: Rail Greases Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 18. South Korea: Rail Greases Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 19. South Korea: Rail Greases Market, by Distribution Channel –Revenue and Forecast to 2027 (US$ Million)
Table 20. Rest of APAC: Rail Greases Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 21. Rest of APAC: Rail Greases Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 22. Rest of APAC: Rail Greases Market, by Distribution Channel –Revenue and Forecast to 2027 (US$ Million)
Table 23. Glossary of Terms, APAC Rail Greases Market
LIST OF FIGURES
Figure 1. APAC Rail Greases Market Segmentation
Figure 2. APAC Rail Greases Market Segmentation, By Country
Figure 3. APAC Rail Greases Market Overview
Figure 4. Lithium Grease Held Largest Share Of Product Type Segment In APAC Rail Greases Market
Figure 5. China and India are Expected to Show Remarkable Growth During the Forecast Period
Figure 6. Rail Greases Market, Industry Landscape
Figure 7. APAC PEST Analysis
Figure 8. APAC Rail Greases Market Impact Analysis of Driver and Restraints
Figure 9. APAC: Rail Greases Market – Revenue and Forecast to 2027 (US$ Million)
Figure 10. Market Positioning of Key Players In Rail Greases Market
Figure 11. APAC: Rail Greases Market Revenue Share, by Product Type (2018 and 2027)
Figure 12. APAC Lithium Grease: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 13. APAC Calcium Grease: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 14. APAC Other Grease: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 15. APAC: Rail Greases Market Revenue Share, by Application (2018 and 2027)
Figure 16. APAC Railway Vehicle Elements: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 17. APAC Railway Track Elements: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 18. APAC Switches and Fish Plates: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 19. APAC Curve Rails: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 20. APAC Screw and Bolts: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 21. APAC : Rail Greases Market Revenue Share, by Distribution Channel (2018 and 2027)
Figure 22. APAC Online: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 23. APAC Offline: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 24. APAC : Rail Greases Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. APAC : Rail Greases Market Revenue Share, by Key Country (2018 and 2027)
Figure 26. Australia: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 27. China: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 28. India: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 29. Japan: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 30. South Korea: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 31. Rest of APAC: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 32. Impact of COVID-19 Pandemic in APAC Country Markets
- Royal Dutch Shell Plc
- Exxon Mobil Corporation
- BP Australia Pty Limited
- Total SA
- Petroliam Nasional Berhad (Petronas)
- FUCHS
- SKF Group
- Chevron Corporation
- Klüber Lubrication
- Sinopec Corp.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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