Outlook on the Worldwide Oil Condition Monitoring Market to 2025 - Players Profiled Include Parker Hannifin, Chevron, General Electric & Shell Among Others
DUBLIN, March 30, 2020 /PRNewswire/ -- The "Oil Condition Monitoring Market by Product Type (Turbines, Compressors, Engines, Gear Systems, Hydraulic Systems), Sampling Type (On-site, Off-site), Industry (Transportation, Industrial, Oil & Gas), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The oil condition monitoring market was valued at USD 695 million in 2019 and is projected to reach USD 1,175 million by 2025; it is expected to grow at a CAGR of 8.5% from 2020 to 2025.
The key factors driving the growth of the market include increasing demand for cost-effective solutions, growing need for time optimization, reduction in maintenance cost, and rising demand for power generation drives the need for continuous oil monitoring in turbines. However, additional expenses incurred in retrofitting existing systems are restraining market growth.
Turbines to lead the oil condition monitoring market during the forecast period.
Turbines have witnessed an increasing demand for lubrication requirements. The goal of an effective turbine oil analysis program is to maximize the reliability and availability of machinery while minimizing maintenance costs associated with oil change-outs, labor, repairs, and downtime. The turbine oil condition monitoring helps in the detection of turbine oil's physical and chemical properties degradation, contamination, particles, metals, and water.
Transportation to be the largest market for oil condition monitoring during the forecast period.
The transportation industry includes automobiles, aerospace, marine, heavy vehicles, and locomotive engines. In the transportation industry, time plays a crucial role, and any unplanned asset breakdown can profoundly impact the business. The oil condition monitoring in the transportation industry helps organizations to manage vehicle component wear and failure better.
Asia Pacific to be the fastest-growing oil condition monitoring market during the forecast period.
APAC has several growing oil & gas activities and approved projects for the production of commercial aircraft, which is expected to lead the manufacturing of in-house large passenger planes. Countries such as China, India, and Japan in the region have upcoming investments from automotive manufacturers. The growth in the automotive industry is expected to boost the oil condition monitoring market in APAC. Further, India is among the rapidly growing economies in APAC. Government initiatives are leading toward the development of the manufacturing sector in the country. All these factors are expected to propel the market growth in the region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Oil Condition Monitoring Market, 2020-2025 (USD Million)
4.2 Oil Condition Monitoring Market, By Product Type
4.3 Oil Condition Monitoring Market, By Industry
4.4 Oil Condition Monitoring Market, By Sampling Type And Region
4.5 Oil Condition Monitoring Market, By Geography
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.3 Drivers
5.3.1 Increasing Demand For Cost-Effective Solutions
5.3.2 Growing Need For Time Optimization
5.3.3 Increasing Demand For Power Generation Drives The Need For Continuous Oil Monitoring In Turbines
5.3.4 Reduction In Maintenance Cost
5.4 Restraints
5.4.1.1 Additional Expenses Incurred In Retrofitting Existing Systems
5.5 Opportunities
5.5.1 Increasing Adoption Of Big Data Analytics
5.5.2 Industrial Internet Of Things (Iiot) Generating New Opportunities In Oil Quality Monitoring Market
5.6 Challenges
5.6.1.1 Limited Availability Of Skilled Personnel At Remote Locations
5.7 Value Chain Analysis
5.8 Types Of Oil Contamination
5.8.1 Water Contamination
5.8.2 Particle Contamination
6 Oil Condition Monitoring Market, By Sampling Type
6.1 Introduction
6.2 Off-Site Sampling
6.2.1 Turbines To Account Largest Size Of Off-Site Oil Condition Monitoring Market
6.2.2 Transportation Industry To Lead On-Site Oil Condition Monitoring Market In 2025
7 Oil Condition Monitoring Market, By Product Type
7.1 Introduction
7.2 Turbines
7.2.1 Off-Site Sampling Type To Hold The Largest Size Of Oil Condition Monitoring Market For Turbines From 2020 To 2025
7.3 Compressors
7.3.1 Reduction In Maintenance To Drive Oil Condition Monitoring Market For Compressors
7.4 Engines
7.4.1 Need For Scheduled Monitoring Of Engines To Boost Oil Condition Monitoring Market Growth
7.5 Gear Systems
7.5.1 Transportation Industry To Hold Largest Share Of Oil Condition Monitoring For Gear Systems In 2025
7.6 Hydraulic Systems
7.6.1 Off-Site Sampling To Hold The Largest Size Of Oil Condition Monitoring Market For Hydraulic Systems From 2020 To 2025
8 Measurement Types Of Oil Condition Monitoring
8.1 Introduction
8.2 Temperature
8.3 Pressure
8.4 Density
8.5 Visocity
8.6 Dielectric
8.7 Tan
8.8 Tbn
8.9 Water Dilution
8.10 Fuel Dilution
8.11 Soot
8.12 Wear Particles
9 Oil Condition Monitoring Market, By Industry
9.1 Introduction
9.2 Transportation
9.2.1 Automotive
9.2.1.1 Engines To Account For Largest Size Of Automobiles By 2025
9.2.2 Aerospace
9.2.2.1 Turbines Market In Aerospace To Grow At Highest Cagr During Forecast Period
9.2.3 Marine
9.2.3.1 Turbines To Hold Largest Size Of Oil Condition Monitoring Market For Marine Industry In 2025
9.2.4 Heavy Vehicle
9.2.4.1 Engines To Hold Largest Size Of Oil Condition Monitoring Marker For Heavy Vehicle Industry
9.2.5 Locomotive
9.2.5.1 Compressors To Hold Largest Size Of Oil Condition Monitoring Market For Locomotive Industry
9.3 Industrial
9.3.1 Europe To Hold Largest Size Of Oil Condition Monitoring Market For Industrial
9.4 Oil & Gas
9.4.1 Growing Demand For Predictive Maintenance Likely To Drive Oil Condition Monitoring Market For Oil & Gas Industry
9.5 Power Generation
9.5.1 Turbines To Account For Largest Size Of Oil Condition Monitoring Market For Power Generation Industry In 2025
9.6 Mining
9.6.1 Reduction In Operating Cost To Boost Oil Condition Monitoring Market For Mining Industry
10 Oil Condition Monitoring Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 Us
10.2.1.1 Growing Manufacturing Industries To Boost The Oil Condition Monitoring Market
10.2.2 Canada
10.2.2.1 Investments In Oil & Gas To Drive The Oil Condition Monitoring Market
10.2.3 Mexico
10.2.3.1 Increasing Automation Across Industries Drive Mexican Oil Condition Monitoring Market Growth
10.3 Europe
10.3.1 Uk
10.3.1.1 Investments In Manufacturing And Renewables To Foster Growth Of Oil Condition Monitoring Market In Uk
10.3.2 Germany
10.3.2.1 Growing Focus For Cost Effective Solutions To Support Growth Of Oil Condition Monitoring Market In Germany
10.3.3 France
10.3.3.1 Increasing Aviation Projects To Drive The Demand For Oil Condition Monitoring Market In France
10.3.4 Rest Of Europe
10.3.4.1 Growing Mining Activities To Increase Demand For Oil Condition Monitoring Market
10.4 Asia Pacific
10.4.1 China
10.4.1.1 Growing Oil & Gas Activities And Investments In Mining To Fuel The Growth Of Oil Condition Monitoring Market
10.4.2 Japan
10.4.2.1 Reduction In Maintenance Cost And Improved Safety Of Equipment To Boost The Oil Condition Monitoring Market During Forecast Period
10.4.3 India
10.4.3.1 Growth In Industrial And Manufacturing Sectors To Drive The Oil Condition Monitoring Market In India
10.4.4 Rest Of Apac
10.4.4.1 Growth In Mining Sector To Increase The Demand For Oil Condition Monitoring In Rest Of Apac
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Growing Transportation Sector To Boost The Oil Condition Monitoring Market Growth
10.5.2 Africa
10.5.2.1 Oil & Gas Activities Driving The Demand For Oil Condition Monitoring Market
10.6 South America
11 Competitive Landscape
11.1 1.1 Overview
11.2 1.2 Ranking Of Players In Oil Condition Monitoring Market
11.3 1.3 Microquadrants Overview
11.3.1 Visionaries
11.3.2 Innovators
11.3.3 Dynamic Differentiators
11.3.4 Emerging Companies
11.4 1.4 Competitive Situations & Trends
11.4.1 Product Launches
12 Company Profiles
12.1 Key Players
12.1.1 Parker Hannifin
12.1.2 Chevron
12.1.3 General Electric
12.1.4 Shell
12.1.5 Bureau Veritas
12.1.6 BP
12.1.7 Eaton
12.1.8 Intertek Group
12.1.9 SGS
12.1.10 Total
12.2 Right To Win
12.3 Other Key Players
12.3.1 Avenisense S.A.
12.3.2 134
12.3.3 Delta Services Industriels
12.3.4 Micromem
12.3.5 135
12.3.6 Poseidon System
12.3.7 Spectro
12.3.8 Testoil
12.3.9 Tribomar
12.3.10 Trico
12.3.11 Techenomics
12.3.12 Unimarine
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