DUBLIN–(BUSINESS WIRE)–The “Oil Cleaning Market – By Technology: Global Industry Perspective, Comprehensive Analysis And Forecast 2020 – 2026” report has been added to ResearchAndMarkets.com’s offering.
According to the report, global demand for oil cleaning market is expected to grow at a CAGR of around 5.6% between 2020 and 2026.
Oil is neutral and non polar chemical substance, viscous in nature and mainly used in different industries including marine, aerospace, automotive, production and manufacturing. Oil is used for smoothing the functioning of machinery and motors. Oil cleaning is the process to purify the oil by eliminating the impurities such as sludge, water contaminants, acids, solid particles and traces of fuels. Oil cleaning machine pass the oil to the purifier by using the engine pressure. Oil is filtered in the purifier and contaminants ranging greater than one micron are removed. These filters are recyclable and can be changed when the contamination limit is crossed. Oil cleaning system can be directly fitted to the engine.
The report provides a comprehensive view on the oil cleaning market we have included a detailed value chain analysis. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the oil cleaning market has also been included. The study encompasses a market attractiveness analysis, wherein product segments are benchmarked based on their market size, growth rate and general attractiveness. The report also analyzes several driving and restraining factors and their impact on the oil cleaning market during the forecast period.
Rising demand for oil from the automotive and machinery industry drive the growth of oil cleaning market. Constant development of oil cleaning system has increased the demand for the oil cleaning equipment. Moreover, low operating cost, escalating concern for recycle technology and demand for high quantity of oil is expected to boost the growth of oil cleaning market. However, low acceptance of oil cleaning technologies from the emerging countries may impede the growth of oil cleaning market. Lack of awareness about oil cleaning technologies is likely to hamper the growth of oil cleaning market. Nevertheless, rapid industrialization and developing urbanization in the developing countries is anticipated to open new opportunities in the forecast period.
Based on technology, oil cleaning market segmented into offline filter, glass fiber pressure filter, hydraulic bypass, vacuum filter, centrifugal separator, glass fiber pressure filter, and electrostatic filter. Centrifugal oil cleaning emerged as the potential segment for the oil cleaning while hydraulic bypass and magnetic filtration are the recently developed techniques. Oil cleaning has wide range of applications and used as clean oil in turbine, motors, machinery, automotive, cement, plastic modeling and forging, defense, aerospace and casting among others.