Oil Water Separator Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2628
Oil Water Separator Market Size is expected to grow positively over the forecast timeframe. Separator is the part of equipment which is majorly used for the separation of water and oil mixtures into a separate constituent.
Strict government regulations regarding the bilge disposal into the sea water coupled with growth in industrial sector will spur the oil water separator market demand by 2024. The product is used in industries for oil and sludge separation from water. These separators are also progressively used in marine sector, due to severe ecological protocols regarding the disposal of sludge and dirty water into the sea. Thus, growth in defense and marine sector will propel the global oil water separator market demand in forecast period. Moreover, growing applicability of the product in these sectors and severe ecological protocols regarding the disposal of bilge water, waste and other harmful components into the sea will further push the industry to new heights.
Several European and Asian countries have imposed stringent penalties for the defaulters, who basically fail to fulfill the ecological standards which are framed for the wastewater dumping into the water resources, thus accelerating the oil water separators demand. Excessive service & maintenance cost and lack of knowledge related to this technology are some of the restraining factors for oil water separators market growth over the forecast period.
Based on product, the market is bifurcated into coalescing, vertical gravity, hydrocyclone separators and others. The other products include petrol & oil interception, electrochemical separator, etc. Among these, coalescing is the most commonly used separator model for the waste water management in various industries due to its ease of installation, minimum maintenance required, automated, excellent capacity, and other features. These superior features will spur the oil water separators market throughout the forecast period.
Oil water separator market is segregated on the basis of application areas which mostly include above ground and below ground. Above ground oil water separator mostly used in chemical, food, oil & gas industries and can also be used for large & low flow rates application areas. Industrial expansion across the globe and wide acceptance of the product by the various industries will positively influence the oil water separator market size in forecast spell.
Additionally, the product is divided into end-use industries which include oil & gas, chemical, marine, aerospace, defense and general industries. General industries, oil & gas sector will grow at a significant CAGR in coming years and this is mainly attributed to the strict protocols and rapid industrialization in various economies where the product is widely used in industries in order to ensure the authority compliance. This in turn will propel the oil water separator market growth by 2024.
On the basis of geography, the industry is segmented into North America, Europe, Asia Pacific, Latin America and Middles East & Africa. Asia Pacific led by China, Japan and India is expected to be the fastest growing region in the global oil water separators market in coming year. This is due to the increasing demand for the product from general industries such as food & beverage, automotive, metal finishing, etc and strict regulation related to the waste water removal from the industries. Europe will likely lead the oil water separator market by 2024 due to the stiff Environment Protection Agency (EPA) regulations and technological advancement in the region. This in turn will positively influence the entire oil water separator market demand in coming year.
Major players in the oil water separator market include Andritz AG, Compass Water Solutions, Mercer International Inc., Marine Plant Systems Pty Ltd, GEA Group AG, Sulzer Chemtech Ltd., Donaldson Company, Inc., PS International, MAHLE GmbH, Pacific Marine & Industrial, Ocean Clean GmbH, Siemens AG, Wärtsilä Oyj Abp, HydroFlo Tech LLC, Recovered Energy, Inc. (REI) and others.
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