The Worldwide Oil Condition Monitoring Industry is Expected to Reach $1.5+ Billion by 2027 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Oil Condition Monitoring - Global Market Outlook (2018-2027)" report has been added to ResearchAndMarkets.com's offering.

The Global Oil Condition Monitoring market 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.

Companies Mentioned

• 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
• Unimarine

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

Key Topics Covered:

1 Executive Summary

2 Preface

3 Market Trend Analysis

3.1 Introduction

3.2 Drivers

3.3 Restraints

3.4 Opportunities

3.5 Threats

3.6 Product Analysis

3.7 End User Analysis

3.8 Emerging Markets

3.9 Impact of Covid-19

4 Porters Five Force Analysis

4.1 Bargaining power of suppliers

4.2 Bargaining power of buyers

4.3 Threat of substitutes

4.4 Threat of new entrants

4.5 Competitive rivalry

5 Global Oil Condition Monitoring Market, By Product

5.1 Introduction

5.2 Compressors

5.3 Engines

5.4 Gear Systems

5.5 Hydraulic Systems

5.6 Turbines

6 Global Oil Condition Monitoring Market, By Sampling

6.1 Introduction

6.2 Off-Site

6.3 On-Site

6.4 Fixed Continuous Monitoring

Portable Kit (On-Board)

7 Global Oil Condition Monitoring Market, By Measurement

7.1 Introduction

7.2 Density

7.3 Dielectric

7.4 Fuel Dilution

7.5 Pressure

7.6 Soot

7.7 Tan

7.8 Temperature

7.9 Total Base Number (TBN)

7.10 Viscosity

7.11 Water Dilution

7.12 Wear Particles

8 Global Oil Condition Monitoring Market, By End User

8.1 Introduction

8.2 Energy & Power

8.3 Industrial

8.4 Mining

8.5 Oil & Gas

8.6 Transportation

8.6.1 Aerospace

8.6.2 Automobile

8.6.3 Heavy Vehicle

8.6.4 Locomotive Engine

8.6.5 Marine

9 Global Oil Condition Monitoring Market, By Geography

9.1 Introduction

9.2 North America

9.3 Europe

9.4 Asia Pacific

9.5 South America

9.6 Middle East & Africa

10 Key Developments

10.1 Agreements, Partnerships, Collaborations and Joint Ventures

10.2 Acquisitions & Mergers

10.3 New Product Launch

10.4 Expansions

10.5 Other Key Strategies

11 Company Profiling

For more information about this report visit https://www.researchandmarkets.com/r/7t2r94