Specialized Lubricants to Boost Crankshaft Oil Market in Europe : Ken Research
• According to the study “Europe Crankshaft Oil Industry Situation and Prospects Research report”, steel is a preferred material in the manufacturing of automotive crankshafts in Europe 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.
• Crankshaft oil is used to reduce the metal-to-metal contact inside any engine to minimize friction and reduce damage. Almost all automotive engines face wear and deform in the moving parts. Therefore, lubricant oils are used to remove the small particles, dirt, and other impurities present in the automobile fuel. There is a huge demand for crankshaft oil in European countries due to evolution in automobile industry. Europe is one of the largest producers of automobiles in the passenger and commercial vehicles. The increasing sales and demand for eco-friendly or green vehicles is expected to contribute to the growth of the crankshaft oil lubricants market.
• Industrialization and modernization is driving the need for more eco-friendly renewable energy resources. Despite the availability of renewable energy resources, Europe consumes more renewable energy and generates more electric energy for various industrial operations. Unlike 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.
• Various product types in European crankshaft oil industry are liquid type and semi-solid type. Crankshaft oil is utilized in automotive industry, ship building industry, and other industries. European crankshaft oil industry is spread across Germany, Russia, UK, France, Italy and other regions. The leading players in Europe’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 competing against each other based on factors such as price, features, and product quality.
• Europe is an automotive manufacturing hub, therefore, it will drive the demand for crankshaft oil market. The country accounts for a major share in terms of consumption, production of automobiles and auto refinishes. Stringent environmental regulations in Europe are anticipated to boost the demand for green vehicles coupled with crankshaft oil market over the next few years.
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