New York, United States, March 24, 2020 (GLOBE NEWSWIRE) -- The global rail greases market will attain a value of US$ 310 Mn by the end of 2029. Manufacturers are launching new products to capture new areas of lubrication in the railway sector. Key market players are exploring untapped opportunities in the flourishing railway networks of developing countries. Demand from rail greases is also surfacing from the maintenance segment of railway transportation. The expanding network of metro trains is also influencing the growth of the rail greases market.
Rail Greases Market: Key Takeaways
- Lithium grease will be the preferred type of Rail grease during 2019-2029 owing to its large scale application in rail tracks and wheel bearings.
- Calcium grease will gain rapid traction in the market over its attributes such as great water resistance and excellent pressure adherence.
- Biodegradable rail greases will witness enhanced adoption rates over the growing trend of sustainability.
- North America will stay at the forefront in the market with its vast network of railways.
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Rail Greases Market: Key Growth Drivers
- Growing preference for bio-based Rail greases is expanding the market growth prospects.
- The rise in demand for gauge face lubrication has a positive influence on the market growth trajectory.
- Train specific rail greases are gaining traction in the market, generating new growth prospects.
- The introduction of advanced technologies such as digitization in the conventional railway networks is escalating the demand for rail greases.
- Smart railway transportation along with metro trains is surging the consumption of rail greases.
- Regular maintenance activities of different parts used in railway transportation have a significant impact on the rail greases market.
Rail Greases Market: Key Restraints
- The emergence of hybrid vehicles in railways is projected to negatively influence the demand for rail greases, restraining market growth.
- Increasing battery parity is also a threat to smooth market growth.
The complete rail greases market report with detailed market segmentation, 115 illustrative figures, and 54 data tables spread across 350 pages on https://www.persistencemarketresearch.com/methodology/31064
Rail Greases Market: Competition Landscape
The market is brimming with international and regional players. Market players focused to strengthen their presence on established distribution and sales channels. Biodegradable rail lubricants have emerged as the new area of competition amongst the market participants. The competitors are actively participating in railway expansion projects to gets their hands on business expanding opportunities.
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About the Report
Persistence Market Research’s study on the global rail greases market provides insights into market trends for the period 2014-2028 and future market projections for 2019-2029. This study provides an in-depth analysis of market structure across seven major geographic regions, through prominent sections that include segments – distribution channel, application, product type, and region.
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