According to a recently published report by Research Nester on “Marine Oil Water Separators Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the marine oil water separators market in terms of market segmentation by type, by application, by end user industry and by region.
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.
The global marine oil water separator market is valued at USD 7.8 Billion in 2019 and is expected to reach USD 9.9 Billion by 2027. The market is anticipated to record a CAGR of around 3.5% over the forecast period i.e. 2019-2027.
Installation of OWS gives an assurance that oil particles in residual water can be continuously overviewed and this is a crucial factor contributing towards the growth of marine oil water separators market. Government is continuously working on improving the conditions for the flora and fauna in the aquatic ecosystem and protecting the environment by passing various regulations through the committees and in coordination with the International Maritime Organization. The growth in defense and marine sector is contributing towards the growth of global marine oil water separator market during the forecast period.
The market is segmented by type, application & end use industry. The market is segmented by application into industrial, aerospace, marine, power generation, defense and others. The market is further segmented by type into gravity, bioremediation, electrochemical, centrifugal, and coalescing oil water separator. In terms of end use industry, the market is segmented into oil and gas, marine & shipping, military, chemical, general and other industry.
The demand of oil water separators is anticipated to increase in Middle eastern countries owing to increase in aluminum smelting and growth of automobile industry. Europe has major share in the global marine oil water separators market due to strict rules related to wastewater generation from industries in this region. Due to excessive utilization of such products in vessels and ships, the Europe and North America are likely to observe significant growth.
There is an increasing concern towards the protection of environment, ecosystem and oil and sea ecosystem which is also boosting the growth of the market during the forecast period. Additionally, Government is continuously amending the regulations related to improvement of conditions in the aquatic ecosystem.
The cost of maintenance and service cost of oil water separators is very high and this factor is restraining the growth of the market. Moreover, lack of awareness of the technologies available for protecting the aquatic ecosystem and may hinder the growth of the market over the period 2019 to 2027.
This report also provides the existing competitive scenario of some of the key players of the 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 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.