Crankshaft
oil is used to reduce the metal-to-metal contact inside any engine to minimize
friction and reduce damage. Automotive engines are more prone to wear and
deform in the moving parts. Therefore, lubricant oils remove the small
particles, dirt, and other impurities present in the automobile fuel. There is
a huge demand for crankshaft oil in Asian economies such as China, India, South
Korea, and Southeast Asian countries due to evolution in automobile industry.
China is the largest producer of automobiles in the passenger and commercial
vehicles category followed by India. The increasing sales and production of
automobiles in India, China, and Indonesia are expected to contribute to the
growth of the crankshaft oil lubricants market.
It
was estimated that India and China are the major consumers of energy resources
due to industrialization and modernization. Despite the availability of
renewable energy resources, Asian countries account for larger share in the
global oil and gas sector. Asia is home to one of the largest oil consuming
nations and depends largely on other nations to satisfy its energy needs. Like
any mechanical system, moving parts in automobiles, compressors, fans, blowers,
shakers, thrusters, valves, crankshafts are the few among other equipment in
automobiles that need proper lubrication to function optimally. The risk
associated with automobile system failures will increase dramatically that is
resulting in increased demand for specialized lubricants.
According
to the study “Asia
Crankshaft Oil Industry Situation and Prospects Research Report”, steel
is a preferred material in the manufacturing of automotive crankshafts due to
its efficient properties such as better performance in compression, tension,
and shear. It was observed that there are major technological advancements in
the manufacture of crankshafts used in automobiles. Traditionally, crankshafts
are manufactured using cast-iron due to its strength and horsepower. Majority
of the Asian automotive parts manufacturers are using CNC technologies to
manufacture crankshafts with great precision for medium and high-end racing
engines. They are made lighter and smaller while the use of flat plane
crankshafts is increasing due to its light weight and smaller size compared to
cross-plane crankshafts.
Various
product types in Asia’s crankshaft industry are liquid type and semi-solid
type. Crankshaft oil is utilized in automotive industry, ship building
industry, and other industries. Asia’s crankshaft oil industry is spread across
China, Japan, India, Korea, Saudi Arabia and other regions. The leading players
in Asia’s crankshaft oil industry are NOK, Freudenberg, Parker Hannifin, EATON,
Trelleborg Sealing Solutions, SKF, Garlock, FNOK (Simrit), NIPPON VALQUA
INDUSTRIES,LTD, SAKAGAMI, Timken, Zhongding Group, NAK, Shanxi Fenghang, KOK,
Qingdao TKS, DUKE Seals and Qingdao Northsea. All the leading vendors are
increasingly focusing on creating strong brand names, offering well-established
products, and exhibit long-term reliability. The vendors are increasingly
competing against each other based on factors such as price, features, and
product quality.
Asian
economies are emerging as automotive hubs, which are expected to drive the
demand for crankshaft oil market. China accounts for a major share in terms of
consumption, production of automobiles and auto refinishes. Therefore,
increasing urbanization and supporting governmental policies are anticipated to
boost the demand for automobiles coupled with crankshaft oil market over the
next few years.
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Ken
Research
Ankur
Gupta, Head Marketing & Communications
0124-4230204
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