Oil Water Separator Market Growing at a CAGR of 3.9% During 2017 to 2022 - ReportsnReports
PUNE, India, July 21, 2017 /PRNewswire/ --
Global oil water separator market is projected to reach $9.13 billion, at a CAGR of 3.9% from 2017 to 2022 while industrial segment to be the largest application segment and above ground OWS segment is estimated to be the largest type segment with market led by Europe region
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The global oil water separator market is projected to reach USD 9.13 billion by 2022, at a CAGR of 3.9% from 2017 to 2022. The demand for oil water separators is expected to increase during the forecast period due to the growth of aluminum smelting and automobile industries in the Middle East, the automobile industry in the South American region, and the iron & steel, automobile, and aluminum smelting industries in the Asia Pacific region. However, the high cost of customized oil water separators is expected to restrain the growth of the oil water separator market, as customization requires a high degree of specialization that increases the final cost of the product.
Furthermore, as a part of qualitative analysis, the research provides a comprehensive overview of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by market players, such as Alfa Laval AB (Sweden), Andritz AG (Austria), GEA Group AG (Germany), AB SKF (Sweden), Siemens AG (Germany), Sulzer Chemtech Ltd. (Switzerland), Parker-Hannifin Corporation (US), Wärtsilä Oyj Abp (Finland), and Donaldson Company, Inc. (US), among others.
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Oil water separators are also increasingly used in the marine industry, owing to stringent environmental regulations concerning the disposal of bilge water into the sea. Thus, the growing applicability of oil water separators in the marine industry is expected to drive the growth of the global oil water separator market from 2017 to 2022. The US, Canada, various European countries, and China have imposed strict penalties for defaulters, who fail to meet the environmental standards formulated for the disposal of wastewater into the sea, thereby accelerating the demand for oil water separators.
Europe is projected to be the largest market for oil water separator during the forecast period. Germany is considered to be the most lucrative market for oil water separators in the European region. In terms of compliance with the EU regulations for wastewater discharge, Germany is ahead of several European countries. The European Union has adopted comprehensive legislations concerning wastewater treatment. In this regard, the Water Framework Directive has set high environmental quality standards for rivers, lakes, groundwater, and coastal waters. Furthermore, the Urban Waste Water Treatment Directive in Europe aims at protecting the environment from adverse effects of urban wastewater discharge.
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Based on type, the oil water separator market has been segmented into above ground OWS, below ground OWS, and marine OWS. The above ground OWS segment is estimated to lead the global oil water separator market in 2017. This growth is mainly driven by the increasing demand for above ground oil water separators from chemicals, petrochemicals, automobiles, and food & beverages industries.
On the basis of application, the industrial segment is estimated to lead the global oil water separator market in 2017. The growth of this segment is mainly attributed to rapid industrial development and the increased demand for oil water separators from chemical, food & beverages, and automotive industries.
Research Coverage: The report defines, segments, and forecasts the global oil water separator market on the basis of application, type, and region. It provides detailed information regarding major factors, such as drivers, restraints, opportunities, and industry-specific challenges, influencing the growth of the market. It strategically profiles key players and comprehensively analyzes their core competencies as well as tracks and analyzes competitive developments such as partnerships, contracts, and joint ventures; mergers & acquisitions; expansions; new product launches; and research & development activities in the market.
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