The oil mist collector market is segmented by machine type (lathe machines, EDMs, SPMs, machining centers, and grinding machines) and geography (APAC, Europe, North America, South America, and MEA). Technavio's report on the oil mist collector market analysis projects that the market size will post an incremental growth of USD 119.98 million, accelerating at a CAGR of over 2% during the forecast period.
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Oil Mist Collector Market: Segmentation Analysis
The oil mist collector market is segmented by machine type:
Based on machine type, the market grew significantly in the lathe machines segment in 2019. The growth of the segment can be attributed to the wide use of lathe machines across various industries. The market growth in the segment will be significant over the forecast period.
The oil mist collector market is segmented by geography:
64% of the growth will originate from the APAC region during the forecast period. The growth of the market in APAC can be attributed to the growing demand for automobile passenger and commercial vehicles from various countries. China and India are the key markets for oil mist collectors in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Oil Mist Collector Market: Vendor Analysis
The market is fragmented and the degree of fragmentation will accelerate during the forecast period. The growth of the players depends on several factors such as market conditions, government support, and industry development. Absolent Group AB, Aeroex Technologies Inc., Daikin Industries Ltd., LNS Group, Losma S.p.A., MAHLE GmbH, Plymovent Group BV, Rensa Filtration, Sulzer Ltd., and VACUUBRAND GMBH CO KG are some of the major market participants.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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