Press release
Global Marine Oil Water Separators Market to Expand with a Notable CAGR of 3.5% during 2019-2027 | Leading Key Players- Marine Plant Systems Pty Ltd, Compass Water Solutions, Freytech Inc., Victor Marine, SkimOIL, Inc., Recovered Energy, Inc. (REI), Oleol
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Fitting of oil water separators gives a surety that oil particles in residual water can be continuously overviewed. Government across different countries are continuously working on enhancing the conditions for the flora and fauna in the aquatic ecosystem and protecting the environment by passing different regulations through the committees working under them and in coordination with the International Maritime Organization. These products are used in marine sector, owing to ecological protocols related to disposal of dirty water into the sea. Further, the demand for marine oil water separators is increasing in marine and defense sector. Attributing to these factors, the market is anticipated to record a CAGR of around 3.5% over the forecast period i.e. 2019-2027 and is expected to reach USD 9.9 Billion by 2027 from USD 7.8 Billion in 2018.
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The market is segmented by application into industrial, aerospace, marine, power generation, defense and others out of which, the industrial segment is anticipated to have leading shares on account of rapid industrialization and increasing demand for oil water separators from various industries in this segment.
The market is further segmented by type into gravity, bioremediation, electrochemical, centrifugal, and coalescing oil water separator out of which the coalescing segment is anticipated to have significant growth on account of its ease of installation, less maintenance required and excellent capacity and other features.
In terms of end use industry, the market is segmented into oil and gas, marine & shipping, military, chemical, general and other industry out of which general industry segment is expected to have significant growth on account of strict protocols and rapid industrialization in various economies where the product is widely used to ensure the compliance with authority.
Europe contributed significantly towards the growth of global marine oil water separators market due to strict rules related to wastewater generation from industries in this region. Growth of end user industry on account of increasing trade is expected to boost the demand for oil water separators in the Asia Pacific region. Escalation in aluminum smelting and as well as the growth in automotive industry is projected to fortify the growth of marine oil water separators market in Middle Eastern countries.
Government Intervention and Increasing Concerns for the Environment
Government is continuously working towards drafting strict rules and regulations on the discharge of amount of liquid and sea water by shipping, transport, oil and gas industry and various other industries and increasing concern for protection of environment, ecosystem and oil and sea ecosystem are anticipated to boost the growth of the market during the forecast period.
High Cost and Lack of Awareness
Many people are not aware of the technologies available for protecting the aquatic ecosystem and the cost of maintenance and service cost of oil water separators is very high and these factors are acting as restraints towards the growth of the market.
This report also provides the existing competitive scenario of some of the key players of the global marine oil water separators market which includes company profiling of Marine Plant Systems Pty Ltd, Compass Water Solutions, Freytech Inc., Victor Marine, SkimOIL, Inc., Recovered Energy, Inc. (REI), Oleology.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global marine oil water separators market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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