COVID-19 IMPACT ANALYSIS ON GLOBAL AIR OIL SEPARATOR MARKET
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360-degree analysis of micro and macro-economic factors in the global Air Oil Separator market. In addition, complete analysis of changes in the global Air Oil Separator market expenditure, and economic and international policies on the supply and demand side. The report also studies the impact of a pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. Likewise, the COVID-19 virus spread on one side has provided ample growth opportunity for the market with rising in automotive or vehicle demand. The surge in covid19 and disrupted supply chains affected the construction and automotive sectors which further negatively impacted the chemical industry. The pandemic-related shutdown led to an oversupply of chemicals and drastically affected the US chemical producers. Moreover, sluggish economic growth depressed demand in local and export markets. Furthermore, the fall in oil prices reduced the feedstock cost advantage, the US petrochemical companies had due to their dependence on domestic ethane, making their products potentially less competitive in an even more difficult market.
MARKET OVERVIEW- GLOBAL AIR OIL SEPARATOR MARKET
The global Air Oil Separator market is driven by the rising demand for better fuel efficiency in marine and aircraft industries is anticipated to boost the demand for air oil separators. Reducing fuel usage and carbon emissions are two of the marine and aviation industries' primary challenges today. Only 16 of the world's biggest ships emit as much sulfur pollution as all of the world's vehicles combined. Because of the growing concern about fuel economy, the need for air oil separators is increasing. This is because it aids in the removal of oil from recirculating gases. They essentially serve as a filter for the air that passes through the system. The air-oil separator may assist ship owners and operators in purchasing and safely treating less expensive fuels with different viscosities. This minimizes oil consumption in the compressors and oil entertainment into the compressed air networks. For many years, air oil separators have been utilized in aircraft engines.
The market is expected to have a new opportunity with developing industrial sectors, such as food processing, beverage, chemical and pharmaceutical, and oil and gas are driving the market demand. Consumption of manufactured goods is a primary driver of both economic growth and the air-oil separator industry. As money increases, families' spending habits shift away from fundamental necessities (food and shelter) and toward a more sophisticated range of products and services. New demands give birth to new markets, which in turn give rise to new industries. The food processing sector is a significant contribution to the health of the national economy in many nations. Similarly, the industry is contributing to the expansion of the air-oil separator market.
The market has major restraining factors like the prohibition on all new coal, gas, and oil exploration is further exacerbating the market's problems. As the globe fears reaching the boundaries of global warming, governments throughout the world are seeking alternatives and strategies to minimize the use of coal, gas, and oil. This is accomplished by prohibiting all new coal, gas, and oil exploration. More and more nations are making net-zero promises to reduce their reliance on coal, gas, and oil. The French parliament approved legislation in 2017 to prohibit the production of oil and gas in all of the country's territory by 2040. No new licenses for the extraction of fossil fuels can be issued, and current licenses cannot be extended beyond the deadline. Similarly, Greenland, a country rich in both oil resources and minerals, banned all new oil exploration in July, effectively putting an end to a 50-year ambition to become an oil-producing nation.
MARKET GROWTH CHALLENGES
Growth challenges in the industries due to COVID is bringing downfall to the market and hampered the growth of the market to a major extent which has created a major challenge for the market growth The worldwide pandemic stopped activities all across the globe, causing the development of different industrial sectors to accelerate. During the COVID-19 pandemic, the port sector had to adjust to lower volumes, worker shortages, the implementation of occupational health and safety measures for dockers and shore personnel, and the adoption of teleworking and remote operations for office workers. Cruise ship calls have ceased in some countries, causing the global economy's key infrastructure to a halt. The COVID-19 pandemic also had a significant impact on the construction industry, which uses a lot of air-oil separator.
CUMULATIVE GROWTH ANALYSIS
The report provides in-depth analysis of global Air Oil Separator market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various Air Oil Separator in various applications has led the increasing demand for market and is expected to witness the growth at a CAGR at specific CAGR from 2021-2028.
AIR OIL SEPARATOR MARKET SEGMENTAL OVERVIEW
The global Air Oil Separator market comprises of different market segments like type, compressor type, end users and geography.
AIR OIL SEPARATOR MARKET BY End User
By end user, the Air Oil Separator includes key segment of
- Food Industry
- Construction Industry
- Electrical Engineering Industry
The growing manufacturing units around the world with the global economy back on track after the pandemic are expected to drive the growth of air oil separators market. The food industry segment will witness around 4.06% CAGR owing to increasing use of compressed air in food processing, cooling, and packaging applications. Besides, increasing demand for packaged food by consumers attributed to quickening pace of life and changing eating habits is expected to have a major impact on the market.
AIR OIL SEPARATOR MARKET BY MODE OF OPERATION
The Air Oil Separator market has a major mode of operation in
- Rotary screw compressor
- Vane compressor
The rotary screw compressor segments accounted for over 56.45% of the total revenue share in 2020 and emerged as leading compressor type. The demand for rotary air compressors has been increasing in the last decade on account of its advantages such as lower installment & maintenance costs and higher efficiency. Manufacturers have been investing heavily in developing rotary compressors that provide higher capacity with lower energy consumption. Rotary screw compressors are used by diverse range of industries such as food & beverage, automotive, chemicals, pharmaceuticals, electronics, and so on. Therefore the demand for rotary screw compressor market value is on rising and will continue scaling by both industrialization and urbanization.
AIR OIL SEPARATOR MARKET BY Type
The Air Oil Separator market has a type like
- Pleated Air Oil Separator
- Deep Filter Air Oil Separator
- Coalescing Air Oil Separator
- Wrap Type Air Oil Separators
- Spin-On Air-Oil Separators
Pleated air oil separators dominated the air oil separators market, accounting for 30.30% of the market share in 2020. In this type, the pleats are added to the air-oil separators media during manufacturing. Pleated filter media increases the air-oil separators’ life. Wrap-type air oil separators are projected to grow at a rate of 2.83% over the forecast years. The wrap-style oil separator was the original design to remove oil aerosols from compressed air streams. Technological advancement in air compression techniques has a profound influence on the compression capabilities of the equipment and subsequently is expected to drive the air compressor market growth during the forecast period.
AIR OIL SEPARATOR MARKET BY GEOGRAPHY
The global Air Oil Separator market is studied for the following region
- North America
- Rest of the world (RoW)
Asia-Pacific is leading The global air oil separator market size was valued at USD 2, 81,340.00 thousand in 2020 and is projected to rise at a compound annual growth rate (CAGR) of 3.61% from 2021 to 2027. Rising demand from the manufacturing industries, oil and gas, food processing, construction, chemical, and automotive, and transportation, particularly in Asia Pacific's emerging economies, is likely to boost the market. Because the air oil separator market is entirely dependent on the manufacturing sector, growth in the latter determines growth in the air oil separator market. Any industrialized country's manufacturing sector has played a pivotal part in its growth and development. Manufacturing is at the forefront of rising and developing economies' economic growth strategies. Manufacturing's percentage of GDP is thus a primary indicator of the sector's importance in a country's economy.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of Air Oil Separator market is majorly focused on expanding the global growth of Air Oil Separator with new product innovation, business expansion, increasing presence of range of manufacturer operating in Air Oil Separator has led the growing demand for the market. Besides, the market offers range of products in different application to fulfill the required demand of consumer which is further contributing healthy growth in the market.
The key players studied in market are
- MANN+HUMMEL (Germany)
- Solberg Manufacturing (USA)
- Sullair (US)
- Walker Engineering (US)
- JJ Filters (India)
- Sotras (Italy)
- Tiger Filtration Limited (UK)
- Meggitt (England)
- Omega Filter (India)
- Dongguan Shenglian Filter Manufacturing Co., Ltd (China)
- Fleetguard Filters Private Limited (India)
- Airpull (China)
- Donaldson (USA)
August-2019: MANN+HUMMEL acquired Hardy Filtration. Hardy Filtration is a Canada-based air filtration company. It helps to expand the global footprint and manufacturing capabilities of Trim-Dim Filter Corporation business which MANN+HUMMEL acquired. The acquisition also helped to increase the ability of MANN+HUMMEL to satisfy and grow Canadian customer base.