September 15, 2023 06:00 ET | Source: CONSEGIC BUSINESS INTELLIGENCE PRIVATE LIMITED CONSEGIC BUSINESS INTELLIGENCE PRIVATE LIMITED
New York, Sept. 15, 2023 (GLOBE NEWSWIRE) -- The global Oil Water Separator Market is expected to witness significant growth at a remarkable CAGR of 3.7% during the forecast period of 2023-2030. Advancement of smart technologies and automation in the oil water separator devices will further boost the market growth during the forecast period. Oxygen Package Device
According to a recent report by Consegic Business Intelligence, the oil water separator market is poised for strong expansion and is expected to reach USD 12,118.64 Million by 2030. The market, which was valued at USD 9,122.75 Million in 2022, is predicted to grow at a compound annual growth rate of 3.7% during the period 2023-2030. The report highlights the increasing adoption of oil water separators in wastewater treatment, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the Oil Water Separator market.
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Oil water separator is a device that separates oil and water mixtures into their separate components. There are many different types of oil-water separator, each has different oil separation capability and are used in different industries. These separators work on certain factors such as the density and size of oil droplets, the size of the collection tank, and the flow rate. The separator device consists of three main segments such as separator unit, filter unit, and control unit. Oil water separators are very efficient in removing gasoline, diesel fuel, crude oil , and others from water before being discharged into storm sewer, and sanitary sewer systems.
Global Oil Water Separator Market: Report Attributes
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Global Oil Water Separator Market Segmentation Details:
Based on Type, the class-II oil-water separators segment contributed the largest shares to the market growth in 2022. This type of oil-water separator achieves a concentration of less than 100 mg/l and is efficient in cleaning water by removing oil contaminants before being let out to passes and foul sewers. Certain advantages of this product type include large capacity and durability which has been driving the majority of demand for the class-II oil-water separators.
Based on Installation Type, the above ground segment accounted for the largest market share in the year 2022. The maintenance of above ground oil water separators involves just washing them out with a hose and a pressure washer, or with removable vapor tight covers. Thus, these product has low operational cost and maintenance and are known for removing non-emulsified oil and settleable solids from the waste stream. Hence, due to the aforementioned advantages, the above ground oil water separators have been experiencing significant growth in the market.
Based on End-use Industry, the shipping & marine segment accounted for the largest market share of 28.75% in the year 2022. The rising development of the global shipping industry is having a direct positive impact on the growth of the oil water separator market. The oil water separator device is largely used in marine and shipping industry for the removal of harmful pollutants from the oceans. Also, these devices prevent any kind of oil leak from machinery such as diesel generators, air compressors, and propulsion engines in the marine industry.
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Based on Region, in the year 2022, Europe accounted for the largest share contribution to the market growth, owing to the increasing adoption of oil water separators in wastewater management. Increasing industrialization activities due to rising urbanization is driving the oil water separator market growth in the region. Also, rising concern regarding environmental pollution is acting as a catalyst for market growth.
Alfa Laval AB, Andritz AG, and Siemens AG, are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more efficient, and cost-effective. Further, the oil water separator market is expected to grow steadily due to the advancement of smart technologies and automation in oil water separator devices. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
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List of Major Global Oil Water Separator Market:
Global Oil Water Separator Market Segmentation:
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Frequently Asked Questions in the Oil Water Separator Market Report
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