Oil Cleaning Market Size, Regional Outlook, Growth Potential, COVID19 Impact Analysis, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI836
Oil Cleaning Market size is majorly driven by robust demand from automotive, construction, and other industries where heavy machinery and equipment are frequently used. The requirement for high-quality and contaminant-free oil for lubrication and smoothening purposes in different industries is fueling constant developments in oil cleaning systems.
Oil cleaning refers to the process of purifying the oil by removing any impurities such as solid particles, sludge, acids, chemicals, and other contaminants. Oils and other lubricants, which are commonly used for the smooth functioning of motors and other moving parts, get contaminated due to impurities, resulting in reduced efficiency of machines. Oil cleaning systems play a crucial role in purifying these oils, thereby restoring efficiency.
In most modern machines in use today, oil cleaning systems can be fitted directly into the engine. The need for higher efficiency and productivity across key industries and constant technological advances will bolster oil cleaning industry trends over the forecast period 2021-2027.
In terms of the regional outlook, the market for oil cleaning in Asia Pacific is expected to register appreciable gains by the end of 2027, powered by rapidly growing industrialization and a sharp rise in the number of manufacturing facilities. Heavy machinery and equipment is frequently being employed in these facilities which require frequent oil cleaning services to ensure optimum efficiency and performance levels.
The Asia Pacific region has witnessed rapid urbanization in recent years, which is driving the regional construction business. Growing residential and commercial development in the coming years along with a flourishing fast growing automotive sector should complement Asia Pacific oil cleaning market outlook significantly.
India’s automotive sector is expanding rapidly and could be the third-largest automotive market in terms of volume in the world by 2026. As the automotive industry expands, regional automakers are exploring innovative ways and solutions to enhance the efficiency and quality of their end-products. These factors are creating tremendous opportunities for the regional oil cleaning system suppliers.
For instance, Kleenoil Filtration India Pvt. Ltd., one of India’s largest suppliers of industrial oil filters, supplies Eclipse Magnetic’s Micromag magnetic filtration systems to Indian automakers such as Hero Motocorp.
Some of the major companies manufacturing oil cleaning systems across the world include Clean Technology AB, Trident, Ferrocare Machines Pvt. Ltd., Triple R Co, Kleenoil Filtration, Kleentek, Puradyn Filter Technologies, Inc., and Klassic Klarol Filters Private Ltd., among many others.
COVID-19 crisis and its impact on oil cleaning market trends
Rapid outbreak of the coronavirus pandemic has created numerous challenges for the worldwide oil cleaning industry. Oil filters and other cleaning technologies witnessed a weakened demand during a major part of 2020 as automotive production and construction projects had been forced to be put on hold temporarily. Other major end-users of oil cleaning systems such as steel, cement, and plastics also experienced reduced or no operation due to government restrictions allowing only industries providing essential services to run.
With major infrastructure projects temporarily suspended, new projects postponed, and reduced automotive demand, the oil cleaning market faced numerous uncertainties throughout 2020. Meanwhile, disruption in supply chain and logistics also created new challenges for manufacturers globally.
However, with the improving COVID-19 situation in many countries, auto production, industrial activities, and construction projects are back on track. The gradual ease of restrictions over the coming years will certainly augment oil cleaning market share over 2021-2027.
What Information does this report contain?
Customize this Report
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability