Oil Condition Monitoring Market (Updated Version Available)

The report offers detailed coverage of Oil Condition Monitoring industry and main market trends. The market research includes historical and forecast market data, demand, application details, price trends, and company shares of the leading Oil Condition Monitoring by geography. The report splits the market size, by volume and value, on the basis of application type and geography.
Oil analysis provides a detailed view of what is happening within machine components during operation.
Factors such as growing demand for economical solutions, increasing need for time optimization, and rising demand for electricity that drives the need for continuous oil monitoring in turbines are fueling the market growth. Companies are persistently looking for different cost-effective ways to reduce the cost of oil condition monitoring. However, extra costs incurred in retrofitting existing systems are one of the key factors hampering the market growth.

On-site oil condition monitoring has assisted manufacturers to considerably enhance their productivity, efficiency, and profitability with regard to predictive maintenance. The off-site oil condition monitoring growth can be attributed to the higher adoption of traditional monitoring systems. It mainly consists of testing the oil samples at company-operated laboratories or third-party laboratories. Most of the oil condition monitoring firms is engaged in laboratory testing for better and in-detailed analysis of the sample.

Turbines have vital applications in verticals such as power, locomotive, and aerospace. The turbines used in these verticals work under very high pressure. The turbines are more prone to be broken at such a high pressure, owing to friction, which reduces the life of the system. To stay away from system breakdown, firms use high-quality oil as a lubricant in these turbines, thereby reducing the friction caused due to high pressure. Furthermore, there is a need for continuous monitoring of the oil quality to make sure the smooth operation of the system. There is a growing demand for energy in developing countries such as China, India, and Brazil, which would boost the need for oil condition monitoring services.

Some of the key players in the market include Bureau Veritas, Castrol Limited, Chevron Corporation, SGS, Intertek Group, Shell, Test Oil (Insight Services Inc) and Unimarine.


The report forecast global Oil Condition Monitoring market to grow to reach xxx Million USD in 2020 with a CAGR of xx% during the period 2021-2025.

First, this report covers the present status and the future prospects of the global Oil Condition Monitoring market for 2015-2025.
And in this report, we analyze global market from 5 geographies: Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia], Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland], North America[United States, Canada, Mexico], Middle East & Africa[GCC, North Africa, South Africa], South America[Brazil, Argentina, Columbia, Chile, Peru].

Key Companies
Bureau Veritas
SGS
Intertek Group
Shell
Chevron Corporation
Castrol Limited
Unimarine
Veritas Petroleum Services
Insight Services Inc


At the same time, we classify Oil Condition Monitoring according to the type, application by geography. More importantly, the report includes major countries market based on the type and application.

Market Segment as follows:
Market by Order Type
On-site
Off-site
Market by Application
Transportation
Industrial
Oil & Gas
Energy & Power
Mining

By Region
Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia]
Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
North America[United States, Canada, Mexico]
Middle East & Africa[GCC, North Africa, South Africa]
South America[Brazil, Argentina, Columbia, Chile, Peru]

The research provides answers to the following key questions:
• What is the estimated growth rate and market share and size of the Oil Condition Monitoring market for the forecast period 2021 - 2025?
• What are the driving forces in the Oil Condition Monitoring market for the forecast period 2021 - 2025?
• Who are the prominent market players and how have they gained a competitive edge over other competitors?
• What are the market trends influencing the progress of the Oil Condition Monitoring industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the market hold for the prominent market players?