Global Oil Condition Monitoring Market Overview
Oil is a vital source utilized in several engines and machineries in order to provide lubrication and for temperature control. Oil condition monitoring is used to avoid machine failure by the utilization of machine operation and failure analysis program. It provides information about the actual condition of oil used inside compressors, gearboxes, engines, and hydraulic systems. As machines and equipment have to work under demanding conditions, such as constant high temperatures & pressures, the properties of lubricating oil can change and might cause damage.
Global Oil Condition Monitoring Market Dynamics
Increasing demand for industrial applications
The turbines have wide range of applications, which requires scheduled check-ups for proper operations. Turbine oil analysis is most regularly used, one of the predictive-maintenance technologies. Industrial turbines operate under very high pressure. At such high pressures, there are chances of turbines to get damaged due to friction, which reduces the life of the system. In order to avoid system failure, manufactures make use of high-quality oil as a lubricant in the turbines. Thus, reducing the friction produced due to heavy pressure. Further, there is a need for regular observing of the oil quality to ensure the smooth operation of the system.
Increasing key player strategies
Parker Hannifin (US) is one of the leading expanded manufacturers of control and motion systems and technologies, offering precision-engineered solutions. The company functions in two commercial segments, namely, aerospace systems and diversified industrial. It provides oil condition monitoring systems under its filtration group through the diversified industrial segment. Additionally, the company provides its products to its units operating in 50 countries. Its manufacturing, sales, service, distribution, and administrative facilities are situated in 39 states within the U.S. and 49 other countries.
However, geopolitical factors and oil prices are projected to be major restraints of market growth. Moreover, lack of awareness, unpredictable maintenance periods, and low adoption of oil condition monitoring solutions in emerging countries are expected to hamper the market growth.
Global Oil Condition Monitoring Market Segmentation
The global oil condition monitoring market is segmented based on product type, sampling type, industry, and region.
On the basis of product type, the global oil condition monitoring market is segmented into turbines, compressors, engines, gear systems, and hydraulic systems. Based on sampling type, the target market is segmented into on-site and off-site. Based on industry, the target market is segmented into transportation (automobile, aerospace, marine, heavy vehicles, and locomotive engines), industrial, oil & gas, power, and mining.
Regional Insights:
On region the global oil condition monitoring market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the leading market for oil condition monitoring system, owing to presence of several major players in industries such as oil & gas, automotive, mining, and power generation. The developments in predictive maintenance technologies are inspiring end-users to implement oil condition monitoring systems across industries. Asia-pacific growth in the oil condition monitoring market is driven by countries such as India, China, and Japan. China has developed as one of the most attractive investment destinations for automotive and mining companies in past few years.
Report Scope:
|
Attribute |
Details |
|
Base year for estimation |
2020 |
|
Forecast period |
2020 – 2025 |
|
Market representation |
Revenue in USD Million & CAGR from 2020 – 2025 |
|
Market Segmentation |
By Product type - Turbines, Compressors, Engines, Gear Systems, and Hydraulic Systems By Sampling type- On-site and Off-site By Industry– Transportation (Automobile, Aerospace, Marine, Heavy Vehicles, and Locomotive Engines), Industrial, Oil & Gas, Power, and Mining |
|
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2025. For the purpose of this study, has segmented the global oil condition monitoring market report based on product type, sampling type, industry, and region.
Global Oil Condition Monitoring Market, By Product type:
- Turbines
- Compressors
- Engines
- Gear Systems
- Hydraulic Systems
Global Oil Condition Monitoring Market, By Sampling Type:
- On-site
- Off-site
Global Oil Condition Monitoring Market, By Industry:
- Transportation
- Automobile
- Aerospace
- Marine
- Heavy Vehicles
- Locomotive Engines
- Industrial
- Oil & Gas
- Power
- Mining
Global Oil Condition Monitoring Market, By Region:
-
-
- North America
-
- U.S.
- Canada
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- North America
-
Global Oil Condition Monitoring Market Key Players
The key players operating the global oil condition monitoring market includes 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, and Poseidon Systems, LLC. Various companies are focusing on utilizing different oil condition monitoring services, which include ferrography testing, tribology testing, lubricant and oil testing, in order to expand the operational life of their machinery as well as the oil being used. In January 2018, Bureau Veritas acquired a majority shareholding in Lubrication Management SL (earlier the industrial oil analysis business segment of IK4-TEKNIKER), a European oil analysis leader.
Global Oil Condition Monitoring Market Company Profile
- Avenisense S.A.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Bureau Veritas
- Castrol Limited
- Chevron Corporation
- Delta Services Industriels (DSi)
- General Electric Company
- Intertek Group Plc
- Micromem Applied Sensor Technologies Inc.
- Parker Hannifin Manufacturing Ltd
- Poseidon Systems, LLC
“*” marked represents similar segmentation in other categories in the respective section
Global Oil Condition Monitoring Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Oil Condition Monitoring Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product Type
- Market Snippet, By Sampling Type
- Market Snippet, By Industry
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Oil Condition Monitoring Market, By Product Type, 2020 – 2025, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2025
- Y-o-Y Growth Analysis (%), 2020 – 2025
- Segment Trends
- Turbines
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2025
- Compressors
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2025
- Engines
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2025
- Gear Systems
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2025
- Hydraulic Systems
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2025
- Overview
- Global Oil Condition Monitoring Market, By Sampling Type, 2020 – 2025, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2025
- Y-o-Y Growth Analysis (%), 2020 – 2025
- Segment Trends
- On-site
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2025
- Off-site
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2025
- Overview
- Global Oil Condition Monitoring Market, By Industry, 2020 – 2025, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2025
- Y-o-Y Growth Analysis (%), 2020 – 2025
- Segment Trends
- Transportation
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2025
- Automobile
- Aerospace
- Marine
- Heavy Vehicles
- Locomotive Engines
- Industrial
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2025
- Oil & Gas
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2025
-
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2025
- Power
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2025
- Mining
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2025
- Overview
- Global Oil Condition Monitoring Market, By Region, 2020 – 2025, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2025
- Y-o-Y Growth Analysis (%), 2020 – 2025
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Product Type, 2020 – 2025
- Market Size and Forecast (US$ Mn), By Sampling Type, 2020 – 2025
- Market Size and Forecast (US$ Mn), By Industry, 2020 – 2025
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2025
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Product Type, 2020 – 2025
- Market Size and Forecast (US$ Mn), By Sampling Type, 2020 – 2025
- Market Size and Forecast (US$ Mn), By Industry, 2020 – 2025
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2025
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Product Type, 2020 – 2025
- Market Size and Forecast (US$ Mn), By Sampling Type, 2020 – 2025
- Market Size and Forecast (US$ Mn), By Industry, 2020 – 2025
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2025
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Product Type, 2020 – 2025
- Market Size and Forecast (US$ Mn), By Sampling Type, 2020 – 2025
- Market Size and Forecast (US$ Mn), By Industry, 2020 – 2025
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2025
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Product Type, 2020 – 2025
- Market Size and Forecast (US$ Mn), By Sampling Type, 2020 – 2025
- Market Size and Forecast (US$ Mn), By Industry, 2020 – 2025
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2025
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
-
- Avenisense S.A
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Bureau Veritas
- Castrol Limited
- Chevron Corporation
- Delta Services Industriels (DSi)
- General Electric Company
- Intertek Group Plc
- Micromem Applied Sensor Technologies Inc.
- Parker Hannifin Manufacturing Ltd
- Poseidon Systems, LLC
- Avenisense S.A
-
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The oil condition monitoring market is segmented into product type, sampling type, industry, and region.
Driving factors in the Global Oil Condition Monitoring Market include the increasing demand for proactive maintenance strategies, the need for efficient machinery operation, and the growing adoption of IoT-based condition monitoring systems.
The Global Oil Condition Monitoring Market faces challenges such as high implementation costs, data security concerns, and the need for skilled professionals for effective monitoring and analysis.
The report considers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is anticipated to dominate the Global Oil Condition Monitoring Market, with a significantly high estimated revenue share over the forecast period.
The key players operating in the target market include Bureau Veritas, Castrol Limited, Chevron Corporation, Delta Services Industriels (DSi), General Electric Company, Intertek Group Plc, Micromem Applied Sensor Technologies Inc., Parker Hannifin Manufacturing Ltd, and Poseidon Systems, LLC.