North America Rail Greases Market Share and Forecast by 2027
North America Rail Greases Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type (Lithium Grease, Calcium Grease, and Other Grease), Application (Railway Vehicle Elements, Railway Track Elements, Switches and Fish Plates, Curve Rails, and Screw and Bolts), and Distribution Channel (Offline and Online)
- Report Date : Sep 2020
- Report Code : TIPRE00014195
- Category : Chemicals and Materials
- Status : Published
- Available Report Formats :
- No. of Pages : 88
The rail greases market in North America is expected to reach US$ 92.46 million by 2027 from US$ 74.62 million in 2018 and is expected to grow at a CAGR of 2.5% from 2019 to 2027.
Regular maintenance activities of different parts used in railway transportation is the key driver for the growth of the 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 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 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 period.The US, Canada, and Mexico are major economies in North America. US has dominated the North America Rail Greases Market with highest market share and is estimated to be the fastest growing country during the forecast period. The growth of the rail greases market in this country 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 across North America are experimenting with state-of-the-art transport technologies to make urban rail systems more efficient, reliable and passenger friendly. The US metro systems are progressively moving from semi-automatic to driverless/unmanned train operations. Most of the upcoming systems are introducing the deployment of cutting-edge technological solutions for the comfort and safety of commuters. Hence, the rail greases market is expected to experience rapid growth in the country. Furthermore, numerous government initiatives for digitization in the country’s conventional railway networks will also drive the rail greases market during the forecast period. 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 North America Rail Greases Market is expected to grow at a good CAGR during the forecast period.
However, COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. In North America, the US has the highest number of confirmed cases of coronavirus, as, compared to Canada and Mexico. This is likely to impact the rail transport in the country as, due to the COVID-19 outbreak, the supply and distribution chain is likely to get affected. In addition, the overall manufacturing processes, research, and development activities will also impact market growth.
North America Rail Greases Market Revenue and Forecast to 2027 (US$ Million)
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North America Rail Greases Market Segmentation
North America Rail Greases Market – ByProduct Type
- Lithium Grease
- Calcium Grease
- Other Grease
North America Rail Greases Market – By Application
- Railway Vehicle Elements
- Railway Track Elements
- Switches and Fish Plates
- Curve Rails
- Screw and Bolts
North America Rail Greases Market – By Distribution Channel
- Offline
- Online
North America Rail Greases Market – By Country
- US
- Canada
- Mexico
North America 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.
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
US, Canada
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 North America Market Segmentation
1.3.1 North America Rail Greases Market – By Product Type
1.3.2 North America Rail Greases Market – By Application
1.3.3 North America Rail Greases Market – By Distribution Channel
1.3.4 North America Rail Greases Market – By Country
2. North America 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. North America Rail Greases– Market Landscape
4.1 Overview
4.2 North America PEST Analysis
4.3 Expert Opinion
5. North America Rail Greases – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Regular Maintenance Activities of Different Parts Used In Railway Transportation
5.1.2 Leveraging E-Commerce Industry To Increase Customer Reach
5.2 Key Market Restraints
5.2.1 Stringent Environmental and Continuous Reforms By Governments
5.3 Key Market Opportunities
5.3.1 Surging Demand for Biodegradable Rail Greases
5.4 Future Trends
5.4.1 The Introduction of Advanced Technologies such As Digitization in The Conventional Railway Networks
5.5 Impact Analysis
6. Rail Greases Market – North America Analysis
6.1 North America: Rail Greases Market –Revenue, and Forecast to 2027 (US$ Million)
6.2 North America rail greases market, By Country - Forecasts And Analysis
6.3 Market Positioning of Key Players
7. North America Rail Greases Market Analysis – By Product Type
7.1 Overview
7.1.1 North America: Rail Greases Market, by Product Type
7.2 Lithium Grease
7.2.1 Overview
7.2.1.1 Lithium Grease: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
7.3 Calcium Grease
7.3.1 Overview
7.3.1.1 Calcium Grease: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
7.4 Other Grease
7.4.1 Overview
7.4.1.1 Other Grease: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
8. North America Rail Greases Market Analysis – By Application
8.1 Overview
8.1.1 North America: North America Rail Greases market, by Application
8.2 Railway Vehicle Elements
8.2.1 Overview
8.2.1.1 Railway Vehicle Elements: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
8.3 Railway Track Elements
8.2.2 Overview
8.2.2.1 Railway Track Elements: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
8.3 Switches and Fish Plates
8.3.1 Overview
8.3.1.1 Switches and Fish Plates: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
8.4 Curve Rails
8.4.1 Overview
8.4.1.1 Curve Rails: Greases market – Revenue, and Forecast to 2027 (US$ Million)
8.5 Screw and Bolts
8.5.1 Overview
8.5.1.1 Screw and Bolts: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
9. North America Rail Greases Market Analysis – By Distribution Channel
9.1 Overview
9.1.1 North America: Rail Greases Market, by Distribution Channel
9.2 Online
9.2.1 Overview
9.2.1.1 Online: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
9.3 Offline
9.3.1 Overview
9.3.1.1 Offline: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
10. North America Rail Greases Market – Country Analysis
10.1 Overview
10.1.1 North America: Rail Greases Market, by Key Country
10.1.1.1 US: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.1.1 US: Rail Greases Market, by Product Type
10.1.1.1.2 US: Rail Greases Market, by Application
10.1.1.1.3 US: Rail Greases Market, by Distribution Channel
10.1.1.2 Canada: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.2.1 Canada: Rail Greases Market, by Product Type
10.1.1.2.2 Canada: Rail Greases Market, by Application
10.1.1.2.3 Canada: Rail Greases Market, by Distribution Channel
10.1.1.3 Mexico: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.3.1 Mexico: Rail Greases Market, by Product Type
10.1.1.3.2 Mexico: Rail Greases Market, by Application
10.1.1.3.3 Mexico: Rail Greases Market, by Distribution Channel
11. Impact of COVID-19 Pandemic on North America Rail Grease Market
11.1 North America: 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 Total SA
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 SWOT Analysis
13.4 Petroliam Nasional Berhad (Petronas)
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 SWOT Analysis
13.5 FUCHS
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 SWOT Analysis
13.5.5 Key Developments
13.6 SKF Group
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 SWOT Analysis
13.7 Chevron Corporation
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 SWOT Analysis
13.8 Klüber Lubrication
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 SWOT Analysis
13.8.5 Key Developments
13.9 Sinopec Corp.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 SWOT Analysis
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. North America rail greases market Revenue And Forecasts To 2027 (US$ Mn)
Table 2. North America: Rail Greases Market, by Product Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. North America: Rail Greases Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 4. North America: Rail Greases Market, by Distribution Channel – Revenue and Forecast to 2027 (US$ Million)
Table 5. US: Rail Greases Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 6. US: Rail Greases Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 7. US: Rail Greases Market, by Distribution Channel –Revenue and Forecast to 2027 (US$ Million)
Table 8. Canada: Rail Greases Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 9. Canada: Rail Greases Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 10. Canada: Rail Greases Market, by Distribution Channel –Revenue and Forecast to 2027 (US$ Million)
Table 11. Mexico: Rail Greases Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 12. Mexico: Rail Greases Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 13. Mexico: Rail Greases Market, by Distribution Channel –Revenue and Forecast to 2027 (US$ Million)
Table 14. Glossary of Terms, Rail Greases Market
LIST OF FIGURES
Figure 1. North America Rail Greases Market Segmentation
Figure 2. North America Rail Greases Market Segmentation, By Country
Figure 3. North America Rail Greases Market Overview
Figure 4. Lithium Grease Held Largest Share Of Product Type Segment In North America Rail Greases Market
Figure 5. US Country Is Expected to Show Remarkable Growth During the Forecast Period
Figure 6. North America Rail Greases Market, Industry Landscape
Figure 7. North America PEST Analysis
Figure 8. North America Rail Greases Market Impact Analysis of Driver and Restraints
Figure 9. North America: Rail Greases Market – Revenue and Forecast to 2027 (US$ Million)
Figure 10. Market Positioning of Key Players In Rail Greases Market
Figure 11. North America: Rail Greases Market Revenue Share, by Product Type (2018 and 2027)
Figure 12. North America Lithium Grease: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 13. North America Calcium Grease: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 14. North America Other Grease: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 15. North America: Rail Greases Market Revenue Share, by Application (2018 and 2027)
Figure 16. North America Railway Vehicle Elements: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 17. North America Railway Track Elements: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 18. North America Switches and Fish Plates: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 19. North America Curve Rails: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 20. North America Screw and Bolts: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 21. North America: Rail Greases Market Revenue Share, by Distribution Channel (2018 and 2027)
Figure 22. North America Online: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 23. North America Offline: Rail Greases market – Revenue, and Forecast to 2027 (US$ Million)
Figure 24. North America: Rail Greases Market Revenue Share, by Key Country (2018 and 2027)
Figure 25. US: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 26. Canada: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 27. Mexico: Rail Greases Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 28. Impact of COVID-19 Pandemic in North American Country Markets
- Royal Dutch Shell Plc
- Exxon Mobil Corporation
- 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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