TBIQYR5145-Global Oil Condition Monitoring Market Research Report 2019

                                          
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 global Oil Condition Monitoring market is valued at 470 million US$ in 2018 is expected to reach 970 million US$ by the end of 2025, growing at a CAGR of 9.4% during 2019-2025.
This report focuses on Oil Condition Monitoring volume and value at global level, regional level and company level. From a global perspective, this report represents overall Oil Condition Monitoring market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.
At company level, this report focuses on the production capacity, ex-factory price, revenue and market share for each manufacturer covered in this report.

The following manufacturers are covered:
    Bureau Veritas
    SGS
    Intertek Group
    Shell
    Chevron Corporation
    Castrol Limited
    Unimarine
    Veritas Petroleum Services
    Insight Services Inc

Segment by Regions
    North America
    Europe
    China
    Japan

Segment by Type
    On-site
    Off-site

Segment by Application
    Transportation
    Industrial
    Oil & Gas
    Energy & Power
    Mining