Conventional oil change is primarily associated with spills and dirty hands. Thus, a new system has been introduced with which one can perform oil changes with ease, speed, safety and cleanliness. Oil drain valves are generally manufactured from stainless steel, brass and corrosion-resistant steel across the globe and can be utilized in combustion engines, construction machineries, etc.
Oil drain valves offer numerous advantages. They offer easy handling owing to the quick release and do not require seal changes. Further, drain valves cannot be lost and enable oil change without the use of tools. Attributing to these benefits, oil drain valves are employed in motorcycles, cars, compressors, cooling systems, marine engines, etc.
Global Oil Drain Valves Market: Segmentation
Globally, the oil drain valves market can be segmented on the basis of material type, product type, end-use industry and application.
On the basis of material type, the global oil drain valves market has been segmented into,
- Corrosion Resistant Steel
- Stainless Steel
On the basis of operation type, the global oil drain valves market has been segmented into,
On the basis of end-use industry, the global oil drain valves market has been segmented into,
- Construction Machinery
- Power Generation
On the basis of application, the global oil drain valves market has been segmented into,
- Marine Engines
- Heavy and Light Duty Trucks
- Passenger Cars
- Construction Equipment
Global Oil Drain Valves Market: Dynamics
Vehicle efficiency is a key aspect in the transportation industry. Thus, maintenance teams need to perform oil changes as quickly as possible; however, this increases the likelihood of negligence or un-torqued installed oil pan plugs. Conventional plugs must be unscrewed for every oil change, which can lead to various problems. This surges the demand for oil drain valves and in turn drives the global oil drain valves market.
Moreover, the growing demand for equipment such as compressors, pumps and construction machinery, supported by growth of respective end-use industries, is expected to push the demand for oil drain valves and thus, assist the growth of the global oil drain valves market across various regions.
Adoption of Restriction of Hazardous Substance Regulations (RoHS) in the manufacturing process of oil drain valves, while ensuring a safer and cleaner environment for the future is found to be one of the key challenges identified in the global oil drain valves market for manufacturers.
Prominent manufacturers of oil drain valves are found to be involved in the introduction of application-specific oil drain valves. For instance, in August 2017, Fumoto introduced its new engine oil drain valves for motorcycles.
Global Oil Drain Valves Market: Regional Outlook
Geographically, the global oil drain valves market is anticipated to be dominated by Asia-Pacific, owing to the presence of a large customer base in developing countries such as India and China. The Asia-Pacific region is expected to be followed by North America in the global oil drain valves market, supported by increasing population as well as the growing demand for light and heavy commercial vehicles across the United States. North America is expected to be followed by Europe and other regions in the global oil drain valves market throughout the forecast years.
Global Oil Drain Valves Market: Market Participants
Examples of some of the market participants involved in the global oil drain valves market include Stahlbus GmbH, Fumoto Engineering, The Danfoss Group, Global Sales Group, Argo-Hytos, Femco Drain Technology B.V., ValvoMax, Saf Air Products, Inc., Parker Hannifin Corp, Manik Engineers, India and others.
Manufacturers of oil drain valves across the globe are found to be involved in the innovation and development of new products while adhering to various environmental regulations introduced by various governments. The global oil drain valves market is partly fragmented in nature, owing to the presence of a large number of local as well as established players across the globe.
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