Crankshaft Oil Market Size, Share & Industry Analysis, By Product Type (Liquid, Semi-solid, Others), By Application (Automobile, Ship-building, Others) and regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Crankshaft oil is a type of engine lubricant that reduces the wear and tear of the engine. The crankshaft oil is basically a mixture of base oils, anti-wear additives, multi-grade oils, dispersants and other which is used to lubricate the crankshaft journal bearings, rods connecting the pistons, and other engine components. The increasing demand from automobile sector is likely to boost the demand.
Increasing automobile manufacturing across the world is creating positive impact on the market. The high demand from automobile sector for crankshaft lubrication and heavy machineries shall foster the market growth. Additionally, the extensive R&D in the automobile sector for developing better lubricants shall serve as an opportunity for the manufacturers.
However, the oil is made up of petroleum hydrocarbons which are based on crude oil derivatives. The reserves of crude oil are limited which is expected to hamper the market growth.
Key Market Driver -
Increasing demand from automobile industry
Key Market Restraint -
Limited reserves of crude oil.
Market Segmentation:
Based on product type, the market is segmented into liquid and semi-solid. Based on application, the market is segmented into automotive, ship building and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Players Covered:
The global crankshaft oil market consists of global & regional players operating. Some of the key players in the market include NOK, Freudenberg, Parker Hannifin, Eaton, Trelleborg Sealing Solutions, SKF, Nippon Valqua Industries, Ltd., Sakagami, and Others.
Key Insights
- New Advancements in Production Technologies
- Key Trends in the Crankshaft Oil Market
- New Product Launches, Expansions, Key Players
- Ranking of Key Players in the Market
Regional Analysis:
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is expected to hold largest market share in the market attributed to the higher manufacturing of automobiles. For instance, according to the European Association of Automobile manufacturers (ACEA), Europe shared 20% of the total global vehicle manufacturing. Asia Pacific is estimated to hold significant share in market attributed to the large manufacturing hub in China and other south east Asia. North America is expected to show substantial growth attributed to the easy availability of raw material like crude oil. Latin America and Middle East and Africa are expected to show considerable growth by the end of the forecast period.
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Segmentation
ATTRIBUTE | DETAILS |
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By Application |
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By Geography |
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Crankshaft Oil Industry Developments
- In July 2020, Freudenberg expanded its engineering services around the world to deliver improved product quality and services. It has set up an engineering service centre in North America as a part of global radial shaft seal operations.
- Ongoing
- 2023
- 2019-2022
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