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Railway lubricants are the essential element of the railway system that ensures smooth and efficient movement of the trains on the tracks and also play a major role in the effective steering and braking of the trains. These lubricants makes the operation of thousands of trains around the globe more reliable and efficient. For many years, the rusting and wearing out of tracks has been a challenge in narrow bends or heavily loaded tracks particularly, in dry weather where squealing and screeching may occur. By injecting an adequate amount of lubricant straight on to the track or wheel interface, the problems including the wear and tear, rusting of tracks and wheels, is reduced to a great extent. This also helps in reducing the noise and energy consumption by the trains. The subway networks in many countries such as India, Kuwait, and Dubai are growing at a healthy rate, which has created a significant demand for railway lubricants. In addition, the railway sector globally is also investing heavily in the development of high-speed train networks. For example, China and Japan have invested millions of dollars for developing high-speed railway networks, which in turn is projected to provide new business opportunities for the investors in the global railway lubricant market in the in the forecast period. Moreover, it is expected that during the forecast period, bio-based railway lubricants will determine the future of the railway lubricant market. However, compared with synthetic lubricants, bio-based orbital lubricants are expensive. Globally, the increasing e-commerce sector is create new business opportunities for the railway lubricant market. Therefore, the leading players in the railway lubricant market are utilizing the online platform to increase their brand awareness and revenue generation capabilities.
Key Market Driver -
Expansion of the railways network coupled with increasing number of trains is expected to drive the growth of the market in the forecast period
Key Market Restraint -
High cost of bio-based lubricants as well as cost associated with frequent lubrications of tracks and wheels may hinder the growth of the market during the forecast period.
Globally, the railway lubricants market is segmented by type, by product type, by application type, and by geographic coverage. Based on type, the market is further segmented into wayside lubrication system, on-board lubrication system, and spray system. The wayside lubrication system accounts for the major share in the global market. The wayside lubrication system effectively applies a consistent precise amount of lubricant on the tracks and retains the friction transformer or grease in position so that the wheels of the train can clutch it and drive along the curve of the track. The product type is further segmented into lithium grease, calcium grease among other greases. The lithium grease holds the major share in the global market owing to its wide usage in the application on rail tracks and wheels of the trains. Synthetic greases and conventional petroleum-based greases use thickeners which are made of metal substances such as lithium. These can be modified with other additives to meet excessive vibration, extreme pressure, or other challenging requirements. The bearing in the wheels are usually lubed with lithium grease. The application type is further segmented into bearing and wheels, rail curves, rail switch plates and turnouts. The rail curves accounts for the largest share in the global market owing to the ever-expanding network of railway lines worldwide which provides healthy business opportunities for the global market.
Major players operating in the global railway lubricants market include Royal Dutch Shell PLC, The Timken Company, Momar, Inc., Petroliam Nasional Berhad (PETRONAS), CITGO Petroleum Corporation, China Petroleum & Chemical Corporation, Exxon Mobil Corporation, Klüber Lubrication, FUCHS LUBRITECH GmbH, and L.B. Foster Company among others.
Geographically, the railway lubricants market is segmented into North America, Europe, Asia Pacific, and the rest of the world. The Asia-Pacific region is expected to hold an important share in the global railway lubricant market. In addition, the stringent government regulations regarding properly maintaining and servicing railway lines within the prescribed time period also contributes to the increasing demand for railway lubricants, which is expected to continue to grow in the next few years. Also, the expansion of the railway networks in the regions as well as across regions coupled with the increasing demand for railway transportation system owing to the several rail development projects is expected to create high growth opportunities for the railway lubricants market in this region. Europe and North America is also expected to show an exponential growth in the global market owing to the development of railway system with adoption of advancements in train mechanisms.
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