(Aviation-NewsWire.Com, October 12, 2021 ) The global oil water separator market is projected to reach USD 9.13 billion by 2022, at a CAGR of 3.9% from 2017 to 2022. Increasing demand for oil water separators from various process industries and rising need for wastewater management solutions across the globe are major factors driving the growth of the global oil water separator market. However, the high cost of customized oil water separators is expected to restrain the growth of the market during the forecast period. The global oil water separator market has been segmented on the basis of type, application, and region.
Based on application, the industrial segment is projected to lead the global oil water separator market from 2017 to 2022. The growth of the industrial application segment is primarily driven by rapid urbanization and industrialization worldwide and stringent implementation of various government regulations imposed on the discharge of wastewater.
Key players operating in the global oil water separator market include Alfa Laval AB (Sweden), Andritz AG (Austria), GEA Group AG (Germany), AB SKF (Sweden), Siemens AG (Germany), Sulzer Chemtech Ltd. (Switzerland), Parker-Hannifin Corporation (US), Wärtsilä Oyj Abp (Finland), and Donaldson Company, Inc. (US). Key strategies such as expansions, new product launches, and agreements are adopted by leading market players to strengthen their foothold in the global oil water separator market.
In April 2017, Wärtsilä Oyj Abp, a key player in the global oil water separator market, signed an agreement with Minerva Marine Inc. (Greece) to supply Aquarius Ballast Water Management Systems (BWMS). This agreement enabled Wärtsilä to retrofit several vessels managed by Minerva Marine Inc. and further strengthen its presence in the marine industry.
In September 2016, ANDRITZ Frautech S.r.l. (Italy), a subsidiary of ANDRITZ AG, which is one of the leading players in the global oil water separator market, signed an agreement with Conqord Oil S.r.l. (Italy). This agreement enabled ANDRITZ Frautech S.r.l. to supply oil water separators for the treatment of coolants, washing fluids, and industrial oils. With the help of this agreement, ANDRITZ Frautech S.r.l. was able to strengthen its market presence and widen its customer base in the global oil water separator market.
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