Los Angeles, December 31, 2019 - QY Research has presented a detailed market study on Wheel Flange Lubrication System. The Wheel Flange Lubrication System has a largescale application in the railway sector to provide lubricant solutions. The new report is titled, “Global Wheel Flange Lubrication System Market Research Report 2019,” that presents market opportunities, risks, drivers, competition landscape, segmental, and regional analysis to the readers. The Global Wheel Flange Lubrication System Market is expected to obtain US$ 132.2 Mn by 2025 from US$ 123.0 Mn in 2018. The Global Wheel Flange Lubrication System Market is predicted to record a sluggish CAGR of 0.8% between 2019 and 2025.
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Railway Sector – Major Consumer of the Wheel Flange Lubrication System Market
High demand for advanced trains to reduce commute time and to provide safety to commuters is likely to boost the growth of the market. However, the Wheel Flange Lubrication System market is largely dependent on the downstream industry such as oil, natural gas, and fuel. Fuel prices have a huge impact on transportation systems all over the globe. Railways are greatly affected by the fuel price hikes resulting in slow development and growth of the railway sector, which is expected to restrain the growth of the Wheel Flange market.
Fuel Expenses Affecting Railway Sector to Hamper the Growth of the Passenger Trains Segment
The application segment of the market is categorized into Passenger Trains, Freight Trains, High-Speed Trains, and Others. The wheel Flange Lubrication System offer solutions for operations in varied climatic conditions and largely for reducing friction between the passenger trains and railway tracks.
However, economic slow-down and high fuel expenses, the railway sector reduces procurement for cost-cutting, and has low funding and budget from the government, which is likely to hamper the growth of the Passenger trains segment in the future. On the basis of product type segment the market is segmented into Spray System and Solid Stick System.
Economic Slow-Down to Affect Large Railway Network in Europe
Europe held a large share of the global Wheel Flange Lubrication System Market in 2018. The region has an extreme climatic condition and the railway industry has a high demand for solutions that enable the smooth functioning of railway operations in harsh conditions. The Wheel Flange Lubrication System has largescale applications in this region, which comprises of the huge railway network with advanced train technology.
However, due to steel and cement sectors being greatly affected by the economic slowdown, the regional market is likely to face a challenge.
Facility Expansion – Top Players Primary Focus
Top players of the market are Mersen, Schunk, and LB Foster held a major share of the market. Top players are involved in collaborations, acquisition and mergers, partnership, and facility expansions to offer innovative technological solutions. For instance, Mersen announced expansion by inaugurating a new facility in France, in 2019.
Some of the key players operating in the market are REBS Zentralschmiertechnik, SKF, Secheron Hasler, Baier & Koppel, Schunk, LB Foster, Rowe Hankins, Bijur Delimon International, Futech Origin, and Mersen.
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