Global Rail Greases Market is accounted for $357.25 million in 2020 and is expected to reach $500.32 million by 2028 growing at a CAGR of 4.3% during the forecast period. Some of the factors such as regular maintenance activities of different parts used in railway transportation and leveraging the e-commerce industry to increase customer reach are propelling the market growth.
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By geography, the Asia Pacific holds the largest share in the market due to rapid urbanization and growing investment by the government of emerging countries in the development of railway infrastructure. The countries across the region are experimenting with state-of-the-art transport technologies to make urban rail systems more efficient, reliable, and passenger-friendly.
Some of the key players profiled in the Rail Greases Market include BP Australia Pty Limited, Chevron Corporation, Exxon Mobil Corporation, Fuchs Petrolub SE, Klüber Lubrication, Petroliam Nasional Berhad (Petronas), Royal Dutch Shell Plc, Sinopec, SKF Group, The Timken Company, Lukoil, China National Petroleum Corporation, Lincoln Industrial, CITGO, and Plews & Edelmann.
Product Types Covered in Rail Greases Market
• Lithium Grease
• Calcium Grease
Distribution Channels Covered:
• Online
• Offline
Applications Covered:
• Railway Track Elements
• Switches & Fish Plates
• Rail Switch Plates and Turnouts
• Curve Rails
• Screw & Bolts
• Railway Vehicle Elements
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