Oil Condition Monitoring - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Oil Condition Monitoring Market is accounted for $637.99 million in 2018 and is expected to reach $1567.02 million by 2027 growing at a CAGR of 10.5% during the forecast period. Growing need for optimization of time, and growing demand for power generation are the major factors propelling the market growth. However, factors such as additional expenses incurred in retrofitting existing systems, and limited availability of skilled personnel are hampering the market growth.
In order to avoid the failures of the engine and the power train and to avoid the machinery that is costly, the testing of oil condition monitoring is done. With the help of the oil condition monitoring the maintenance of the engines, machines, and other systems is done in an effective way and it helps in reducing the downtime expense. Different types of tests are conducted for the oil condition monitoring. Some of the tests for the oil condition monitoring are oil condition monitoring tests, marine lubricants quality scanning, wear metals testing, OCM testing, ferrography testing, and others.
Based on the sampling type, the on-site segment is going to have a lucrative growth during the forecast period owing to the factors such as reduced servicing and maintenance costs, increased equipment productivity, minimize oil waste and disposal, and reduce downtime. The user can ensure the proper functioning of engines used in industries such as power generation, transportation, and marine.
By geography, North America is going to have a lucrative growth during the forecast period due to the presence of several major players in the industries such as automotive, oil & gas, power generation, and mining. The advancements in predictive maintenance technologies are encouraging end-users to adopt oil condition monitoring solutions across industries existing in this region.
Some of the key players profiled in the Oil Condition Monitoring Market include Avenisense S.A., Bureau Veritas, Castrol Limited, Chevron Corporation, Delta Services Industriels (DSi), GE, Intertek Group Plc, Micromem Applied Sensor Technologies Inc., Parker Hannifin Manufacturing Ltd, Poseidon Systems, LLC, Shell, SPECTRO Analytical Instruments GmbH, Test Oil (Insight Services Inc.), TRIBOMAR GmbH and Unimarine.
• Gear Systems
• Hydraulic Systems
• Fuel Dilution
• Total Base Number (TBN)
• Water Dilution
• Wear Particles
End Users Covered:
• Energy & Power
• Oil & Gas
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Select License Type
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.