Global Oil Condition Monitoring Market is Expected to Reach $864.17 million by 2023

Report Sellers has added a new market research report “Oil Condition Monitoring - Global Market Outlook (2017-23)” to its offerings.

According to Report, the Global Oil Condition Monitoring Market accounted for $435.16 million in 2016 and is expected to reach $864.17 million by 2023 growing at a CAGR of 10.3% during the forecast period. 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 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.

Browse through the complete description and in-depth TOC on “Global Oil Condition Monitoring Market”
https://www.reportsellers.com/market-research-report/Oil-Condition-Monitoring---Global-Market-Outlook-2017-2023

What does the Report Offers

• Market share assessments for the regional and country level segments
• Market share analysis of the top industry players 
• Strategic recommendations for the new entrants
• Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
• 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

Report Scope

Global Oil Condition Monitoring Market has been segmented by measurement type covered, sampling type covered, product type covered, industries covered and regions covered

Measurement Type Covered:
Density 
Dielectric 
Fuel Dilution 
Pressure 
Soot 
TAN 
TBN 
Temperature 
Viscosity 
Water Dilution 
Wear Particles

Sampling Type Covered:
Off-Site
On-Site

Product Type Covered:
Compressors 
Engines 
Gear Systems 
Hydraulic Systems 
Turbines 

Industries Covered:
Mining
Industrial
Energy & Power 
Oil & Gas
Transportation

Regions Covered:
North America
US
Canada
Mexico
Europe
Germany
France
Italy
UK 
Spain 
Rest of Europe 
Asia Pacific
Japan 
China 
India 
Australia 
New Zealand 
South Korea
Rest of Asia Pacific 
South America
Argentina
Brazil
Chile
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

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