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The oil mist collector market size is estimated to grow at a CAGR of 5.11% between 2023 and 2028. The market size is forecast to increase by USD 310.77 million. The growth of the market depends on several factors such as the rise in the production of light vehicles, the increasing demand for fabricated metal products, and the large-scale industrial automation worldwide
The report includes a comprehensive outlook on the Oil Mist Collector Market, offering forecasts for the industry segmented by Type, which comprises with filter and without filter. Additionally, it categorizes Product into, lathe machines, EDMs, SPMs, machining centers, and grinding machines and covers Regions, including APAC, Europe, North America, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
Oil Mist Collector Market Forecast 2024-2028
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Automating the manufacturing process aids in increasing productivity, which, in turn, helps businesses to grow and compete. Companies, consequently, incorporate automation technology to gain competitive advantages. However, the incorporation of automation involves high amounts of capital investments. Another key advantage of automation is the ability to respond to problems in a more effective manner. In addition, automated equipment and robotics can help ensure the consistency of the final manufactured product, thus, making it possible to control and manipulate the manufacturing processes carefully to maintain quality.
Moreover, the incorporation of automation technology is cost-intensive, and manufacturers realize cost-effectiveness only when high volumes of components or parts are manufactured using this technology. The incorporation of automation technology is thereby expected to drive the growth of the global oil mist collector market during the forecast period as the demand for oil mist collectors will increase in the use of machine tools to manufacture automated tools and equipment.
3D printers are widely used to create prosthetics, electronic products, and full-scale clothing. These printers have tremendous potential in the industrial sector. The dramatic changes that 3D printing technology has brought about are expected to have a positive impact on machine tools and plastic injection molding. 3D printing technology helps in reducing material usage by nearly 30%-70% when compared with traditional techniques.
Consequently, it reduces development costs and also results in faster speed to market for new products. Owing to this, many machine tool manufacturers have started incorporating this technology into their machine tools. In addition, the applications of this machine can extend to sectors such as aerospace and defense, automotive, healthcare, commercial, consumer products, and retail, where it can be used in the manufacture of low-volume replacement parts or for modeling and prototyping. Hence, such factors will drive the growth of the market during the forecast period.
The closure of several manufacturing industries in the US and Europe because of high labor costs and strict pollution laws has resulted in the increased availability of second-hand machines. As many manufacturers in these regions have moved to APAC to take advantage of the low costs of manufacturing and the availability of skilled labor, many developing countries such as China, India, and Pakistan are importing second-hand machines from the US and Europe.
Furthermore, refurbishing and reconditioning these machines can, however, restore them to their original state. China has become a major destination for second-hand machines from European manufacturers. The products in the global oil mist collector market are also sold in the second-hand market. Therefore, the growing second-hand machine tools market will impede the demand for oil mist collectors, as well as the growth of the global oil mist collector market during the forecast period.
The with filter segment will account for a major share of the market's growth during the forecast period. With filter oil mist collectors are devices used to collect oil mist from gas streams. It is generally used in air pollution control and environmental monitoring applications. The filter collects the oil smoke, restores it to the original oil, and returns it to the oil tank in the pump. The best filter to use to collect oil mist is called a packed-bed, or coalescing filter.
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The with filter segment was valued at USD 569.51 million in 2018. The high volume of automotive production across the world is fueling the demand for machine tools from automotive OEMs and automotive component manufacturers, thereby increasing the demand for with filter oil mist collectors. Automotive production is expected to steadily increase during the forecast period as the demand for automobiles is anticipated to increase in emerging economies, such as India and Indonesia. This will have a positive influence on the growth of the with filter segment of the market during the forecast period.
Based on product, the market has been segmented into lathe machines, EDMs, SPMs, machining centers, and grinding machines. The lathe machines segment will account for the largest share of this segment. A lathe machine usually consists of a bed, headstock, tailstock, and carriage. The bed enables the tailstock and the carriage to be in parallel with the axis of the spindle. The main spindle, change gears, and speed change mechanisms are mounted on the headstock. The tailstock is directly mounted on the spindle axis and serves as the tool holder. The direction of the movement of the cutting tool is controlled by the operator. Furthermore, the most common products of lathe machines include camshafts, crankshafts, bowls, table legs, and candlestick holders. These factors will drive the growth of the lathe machines segment of the market during the forecast period.
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APAC is estimated to contribute 57% to the growth by 2018. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. APAC is dominating the global oil mist collector market due to the rising adoption of machine tools in countries such as China, Japan, India, Taiwan, and South Korea. These countries have a large manufacturing industry. The strong presence of manufacturing facilities in China is significantly driving the consumption of machine tools in the country, thereby leading to the growth of the APAC oil mist collector market.
Furthermore, the growing number of manufacturing activities in emerging economies, such as India, can be attributed to the rise in private investments in the manufacturing sector. The other Asian countries that exhibited significant manufacturing output growth rates were Malaysia, South Korea, Pakistan, Vietnam, India, and Indonesia. Increased foreign investments and more advanced manufacturing machinery and equipment are aiding the growth of manufacturing output in these countries and, in turn, boosting the overall manufacturing output of the region. Hence, such factors are expected to drive market growth in this region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
AGET Manufacturing Co., Air Quality Engineering Inc., Airflow Systems Inc., AIRMAX International, Apiste Corp., Camfil AB, CLEANTEK, Curran Manufacturing Corp, Donaldson Co. Inc., Engineered filtration Inc., Filtra Systems Co, GECO Group of Companies, KLEAN Environmental Technology Co. Ltd., Losma S.p.A., Nederman Holding AB, Powertech Pollution Controls Pvt. Ltd., SCHAKO Ltd., Tanis Technologies, and Tri-Mer Corp.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The oil mist collector market report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2018 to 2028.
Oil Mist Collector Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.11% |
Market Growth 2024-2028 |
USD 310.77 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.67 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 57% |
Key countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Absolent Group AB, AGET Manufacturing Co., Air Quality Engineering Inc., Airflow Systems Inc., AIRMAX International, Apiste Corp., Camfil AB, CLEANTEK, Curran Manufacturing Corp, Donaldson Co. Inc., Engineered filtration Inc., Filtra Systems Co, GECO Group of Companies, KLEAN Environmental Technology Co. Ltd., Losma S.p.A., Nederman Holding AB, Powertech Pollution Controls Pvt. Ltd., SCHAKO Ltd., Tanis Technologies, and Tri-Mer Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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