Oil Condition Monitoring Market

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 Code: SE 5498 Mar, 2020, by marketsandmarkets.com
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The global oil condition monitoring market size is expected to grow from USD 779 million in 2020 to USD 1,175 million by 2025, at a CAGR of 8.5%. The market growth is fueled by increasing demand for cost-effective solutions, reduction in maintenance cost, and growing need for time optimization.

Oil Condition Monitoring Market

“Turbines to lead the oil condition monitoring market during the forecast period.”

Turbine oil analysis is one of the most commonly used predictive-maintenance technologies. The turbines are used for various applications, which need scheduled check-ups for efficient operations. The turbines used in the industries operate under very high pressure. At such high pressures, the turbines are more prone to be damaged due to friction, which decreases the life of the system. To avoid system failure, companies use high-quality oil as a lubricant in the turbines, thereby reducing the friction caused due to heavy pressure. Moreover, there is a need for regular monitoring of the oil quality to ensure the smooth operation of the system.

“On-site sampling is expected to lead the global oil condition monitoring market during the forecast period.”

On-site oil analysis can reduce servicing and maintenance costs, increase 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.

“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. The oil condition monitoring helps in avoiding critical engine failures that may occur in ships and airplanes. Hence, the demand for oil condition monitoring is expected to increase in the marine and aerospace industry. The growth in the automobile industry is attributed to the increasing emphasis of car manufacturers to install real-time oil monitoring sensors in cars.

Oil Condition Monitoring Market

“North America to be the largest oil condition monitoring market during the forecast period “

North America is the largest market for oil condition monitoring systems. The region has the presence of several major players in 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.

Key Market Players

As of 2019, Parker Hannifin (US), Chevron (US), General Electric (US), Shell (Netherlands), Bureau Veritas (France), BP (UK), Eaton (Ireland), Intertek Group (UK), SGS (Switzerland), and Total (France) were the major players in the global oil condition monitoring market.

Parker Hannifin (US) is one of the leading diversified manufacturers of motion and control technologies and systems, providing precision-engineered solutions. The company operates in two business segments, namely, diversified industrial and aerospace systems. It offers oil condition monitoring systems through its filtration group under the diversified industrial segment. Moreover, the company offers its products through its divisions operating in 50 countries. Its manufacturing, service, sales, distribution, and administrative facilities are located in 39 states within the US and 49 other countries.

Scope of Report:

Report Metric

Details

Years considered for providing market size

2017–2025

Base year considered

2019

Forecast period

2020–2025

Forecast units

Value (USD) in billion/million

Segments covered

Product Type, Sampling Type, Industry, and Geography

Regions covered

North America, APAC, Europe, South America, and Middle East & Africa

Companies covered

Parker Hannifin (US), Chevron (US), General Electric (US), Shell (Netherlands), Bureau Veritas (France), BP (UK), Eaton (Ireland), Intertek Group (UK), SGS (Switzerland), and Total (France)

In this report, the global oil condition monitoring market has been segmented into product type, sampling type, industry, and geography.

By Product Type

  • Turbines
  • Compressors
  • Engines
  • Gear Systems
  • Hydraulic Systems

By Sampling Type

  • On-site
  • Off-site

By Industry

  • Transportation
    • Automobile
    • Aerospace
    • Marine
    • Heavy Vehicles
    • Locomotive Engines
  • Industrial
  • Oil & Gas
  • Power
  • Mining

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europes
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of APAC
  • South America
  • Middle East & Africa

Recent Developments

  • In January 2019, Baker Hughes, a GE Company, signed an agreement with Emirates National Oil Company (ENOC) to co-develop VitalyX*, a real-time lubricant monitoring system.
  • In January 2018, Bureau Veritas acquired a majority shareholding in Lubrication Management SL (previously the industrial oil analysis Business Unit of IK4-TEKNIKER), a European oil analysis leader.

Critical Questions:

  • Which sampling type of oil condition monitoring is expected to have the highest demand in the future?
  • What are the key trends in the oil condition monitoring market?
  • What initiatives are being undertaken by major market players?
  • Which countries are expected to be the highest-revenue generating markets in the future?
  • How are the disruptions in the different applications expected to impact the oil condition monitoring market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 17)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION AND SCOPE
    1.3 INCLUSIONS AND EXCLUSIONS
    1.4 STUDY SCOPE
           1.4.1 MARKETS COVERED
           1.4.2 YEARS CONSIDERED
    1.5 CURRENCY
    1.6 LIMITATIONS
    1.7 MARKET STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 21)
    2.1 INTRODUCTION
           2.1.1 SECONDARY DATA
                    2.1.1.1 List of major secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakdown of primaries
                    2.1.2.2 Key data from primary sources
           2.1.3 SECONDARY AND PRIMARY RESEARCH
                    2.1.3.1 Key industry insights
    2.2 MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach for arriving at market size using bottom-up analysis
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach for arriving at market size using top-down analysis
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS

3 EXECUTIVE SUMMARY (Page No. - 32)

4 PREMIUM INSIGHTS (Page No. - 36)
    4.1 OIL CONDITION MONITORING MARKET, 2020–2025 (USD MILLION)
    4.2 MARKET, BY PRODUCT TYPE
    4.3 MARKET, BY INDUSTRY
    4.4 MARKET, BY SAMPLING TYPE AND REGION
    4.5 MARKET, BY GEOGRAPHY

5 MARKET OVERVIEW (Page No. - 41)
    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 (Page No. - 49)
    6.1 INTRODUCTION
    6.2 OFF-SITE SAMPLING
           6.2.1 TURBINES TO ACCOUNT LARGEST SIZE OF OFF-SITE MARKET
           6.2.2 TRANSPORTATION INDUSTRY TO LEAD ON-SITE MARKET IN 2025

7 OIL CONDITION MONITORING MARKET, BY PRODUCT TYPE (Page No. - 54)
    7.1 INTRODUCTION
    7.2 TURBINES
           7.2.1 OFF-SITE SAMPLING TYPE TO HOLD THE LARGEST SIZE OF MARKET FOR TURBINES FROM 2020 TO 2025
    7.3 COMPRESSORS
           7.3.1 REDUCTION IN MAINTENANCE TO DRIVE MARKET FOR COMPRESSORS
    7.4 ENGINES
           7.4.1 NEED FOR SCHEDULED MONITORING OF ENGINES TO BOOST 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 MARKET FOR HYDRAULIC SYSTEMS FROM 2020 TO 2025

8 MEASUREMENT TYPES OF OIL CONDITION MONITORING (Page No. - 66)
    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 (Page No. - 70)
    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 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 market for locomotive industry
    9.3 INDUSTRIAL
           9.3.1 EUROPE TO HOLD LARGEST SIZE OF MARKET FOR INDUSTRIAL
    9.4 OIL & GAS
           9.4.1 GROWING DEMAND FOR PREDICTIVE MAINTENANCE LIKELY TO DRIVE MARKET FOR OIL & GAS INDUSTRY
    9.5 POWER GENERATION
           9.5.1 TURBINES TO ACCOUNT FOR LARGEST SIZE OF MARKET FOR POWER GENERATION INDUSTRY IN 2025
    9.6 MINING
           9.6.1 REDUCTION IN OPERATING COST TO BOOST MARKET FOR MINING INDUSTRY

10 OIL CONDITION MONITORING MARKET, BY GEOGRAPHY (Page No. - 83)
     10.1 INTRODUCTION
     10.2 NORTH AMERICA
             10.2.1 US
                       10.2.1.1 Growing manufacturing industries to boost the market
             10.2.2 CANADA
                       10.2.2.1 Investments in oil & gas to drive the market
             10.2.3 MEXICO
                       10.2.3.1 Increasing automation across industries drive Mexican market growth
     10.3 EUROPE
             10.3.1 UK
                       10.3.1.1 Investments in manufacturing and renewables to foster growth of market in UK
             10.3.2 GERMANY
                       10.3.2.1 Growing focus for cost effective solutions to support growth of market in Germany
             10.3.3 FRANCE
                       10.3.3.1 Increasing aviation projects to drive the demand for market in France
             10.3.4 REST OF EUROPE
                       10.3.4.1 Growing mining activities to increase demand for 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 market
             10.4.2 JAPAN
                       10.4.2.1 Reduction in maintenance cost and improved safety of equipment to boost the market during forecast period
             10.4.3 INDIA
                       10.4.3.1 Growth in industrial and manufacturing sectors to drive the 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 market growth
             10.5.2 AFRICA
                       10.5.2.1 Oil & gas activities driving the demand for market
     10.6 SOUTH AMERICA

11 COMPETITIVE LANDSCAPE (Page No. - 101)
     11.1 1.1 OVERVIEW
     11.2 1.2 RANKING OF PLAYERS IN 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 (Page No. - 108)
     12.1 KEY PLAYERS
             12.1.1 PARKER HANNIFIN
                       12.1.1.1 Business overview
                       12.1.1.2 Products/solutions/services offered
                       12.1.1.3 Recent developments
                       12.1.1.4 SWOT analysis
                       12.1.1.5 MNM view
             12.1.3 CHEVRON
                       12.1.3.1 Business overview
                       12.1.3.2 Products/solutions/services offered
                       12.1.3.3 SWOT analysis
                       12.1.3.4 MNM view
             12.1.4 GENERAL ELECTRIC
                       12.1.4.1 Business overview
                       12.1.4.2 Products/solutions/services offered
                       12.1.4.3 Recent developments
                       12.1.4.4 SWOT analysis
                       12.1.4.5 MNM view
             12.1.5 SHELL
                       12.1.5.1 Business overview
                       12.1.5.2 Products/solutions/services offered
                       12.1.5.3 Recent developments
                       12.1.5.4 SWOT analysis
                       12.1.5.5 MNM view
             12.1.8 BUREAU VERITAS
                       12.1.8.1 Business overview
                       12.1.8.2 Products/solutions/services offered
                       12.1.8.3 Recent developments
                       12.1.8.4 SWOT analysis
                       12.1.8.5 MNM view
               12.1.10 BP
                         12.1.10.1 Business overview
                         12.1.10.2 Products/solutions/services offered
                         12.1.10.3 Recent developments
               12.1.11 EATON
                         12.1.11.1 Business overview
                         12.1.11.2 Products/solutions/services offered
               12.1.12 INTERTEK GROUP
                         12.1.12.1 Business overview
                         12.1.12.2 Products/solutions/services offered
                         12.1.12.3 Recent developments
               12.1.14 SGS
                         12.1.14.1 Business overview
                         12.1.14.3 Products/solutions/services offered
                         12.1.14.4 Recent developments
               12.1.15 TOTAL
                         12.1.15.1 Business overview
                         12.1.15.2 Products/solutions/services offered
     12.3 RIGHT TO WIN
     12.4 OTHER KEY PLAYERS
             12.4.1 AVENISENSE S.A.
             12.4.2 134
             12.4.3 DELTA SERVICES INDUSTRIELS
             12.4.4 MICROMEM
             12.4.5 135
             12.4.6 POSEIDON SYSTEM
             12.4.7 SPECTRO
             12.4.8 TESTOIL
             12.4.9 TRIBOMAR
             12.4.10 TRICO
             12.4.11 TECHENOMICS
             12.4.12 UNIMARINE

13 APPENDIX (Page No. - 138)
     13.1 INSIGHTS OF INDUSTRY EXPERTS
     13.2 DISCUSSION GUIDE
     13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     13.4 AVAILABLE CUSTOMIZATIONS
     13.5 RELATED REPORTS


LIST OF TABLES (65 Tables)

TABLE 1 OIL CONDITION MONITORING MARKET, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 2 MARKET FOR OFF-SITE SAMPLING, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 3 MARKET FOR OFF-SITE SAMPLING, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 4 MARKET FOR ON-SITE SAMPLING, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 5 MARKET FOR ON-SITE SAMPLING, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 6 MARKET, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 7 MARKET FOR TURBINES, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 8 MARKET FOR TURBINES, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 9 MARKET FOR TURBINES, BY TRANSPORTATION INDUSTRY, 2017–2025 (USD MILLION)
TABLE 10 MARKET FOR TURBINES, BY REGION, 2017–2025 (USD MILLION)
TABLE 11 MARKET FOR COMPRESSORS, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 12 MARKET FOR COMPRESSORS, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 13 MARKET FOR COMPRESSORS, BY TRANSPORTATION INDUSTRY, 2017–2025 (USD MILLION)
TABLE 14 MARKET FOR COMPRESSORS, BY REGION, 2017–2025 (USD MILLION)
TABLE 15 MARKET FOR ENGINES, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 16 MARKET FOR ENGINES, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 17 MARKET FOR ENGINES, BY TRANSPORTATION INDUSTRY, 2017–2025 (USD MILLION)
TABLE 18 MARKET FOR ENGINES, BY REGION, 2017–2025 (USD MILLION)
TABLE 19 MARKET FOR GEAR SYSTEMS, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 20 MARKET FOR GEAR SYSTEMS, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 21 MARKET FOR GEAR SYSTEMS, BY TRANSPORTATION INDUSTRY, 2017–2025 (USD MILLION)
TABLE 22 MARKET FOR GEAR SYSTEMS, BY REGION, 2017–2025 (USD MILLION)
TABLE 23 MARKET FOR HYDRAULIC SYSTEMS, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 24 MARKET FOR HYDRAULIC SYSTEMS, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 25 MARKET FOR HYDRAULIC SYSTEMS, BY TRANSPORTATION INDUSTRY, 2017–2025 (USD MILLION)
TABLE 26 MARKET FOR HYDRAULIC SYSTEMS, BY REGION, 2017–2025 (USD MILLION)
TABLE 27 MARKET, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 28 MARKET FOR TRANSPORTATION INDUSTRY, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 29 MARKET FOR TRANSPORTATION INDUSTRY, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 30 MARKET FOR TRANSPORTATION INDUSTRY, BY REGION, 2017–2025 (USD MILLION)
TABLE 31 MARKET FOR AUTOMOTIVE INDUSTRY, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 32 MARKET FOR AEROSPACE INDUSTRY, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 33 MARKET FOR MARINE INDUSTRY, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 34 MARKET FOR HEAVY VEHICLE INDUSTRY, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 35 MARKET FOR LOCOMOTIVE INDUSTRY, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 36 MARKET FOR INDUSTRIAL, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 37 MARKET FOR INDUSTRIAL, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 38 MARKET FOR INDUSTRIAL, BY REGION, 2017–2025 (USD MILLION)
TABLE 39 MARKET FOR OIL & GAS INDUSTRY, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 40 OIL CONDITION MONITORING MARKET FOR OIL & GAS INDUSTRY, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 41 MARKET FOR OIL & GAS INDUSTRY, BY REGION, 2017–2025 (USD MILLION)
TABLE 42 MARKET FOR POWER GENERATION INDUSTRY, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 43 MARKET FOR POWER GENERATION INDUSTRY, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 44 MARKET FOR POWER GENERATION INDUSTRY, BY REGION, 2017–2025 (USD MILLION)
TABLE 45 MARKET FOR MINING INDUSTRY, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 46 MARKET FOR MINING INDUSTRY, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 47 MARKET FOR MINING INDUSTRY, BY REGION, 2017–2025 (USD MILLION)
TABLE 48 MARKET, BY REGION, 2017–2025 (USD MILLION)
TABLE 49 MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 50 MARKET IN NORTH AMERICA, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 51 MARKET IN NORTH AMERICA, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 52 MARKET IN EUROPE, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 53 MARKET IN EUROPE, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 54 MARKET IN EUROPE, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 55 MARKET IN APAC, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 56 MARKET IN APAC, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 57 MARKET IN APAC, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 58 MARKET IN MIDDLE EAST & AFRICA, BY PRODUCT  TYPE, 2017–2025 (USD MILLION)
TABLE 59 MARKET IN MIDDLE EAST & AFRICA, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 60 MARKET IN SOUTH AMERICA, BY PRODUCT  TYPE, 2017–2025 (USD MILLION)
TABLE 61 MARKET IN SOUTH  AMERICA, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 62 PRODUCT LAUNCHES, 2017–2020
TABLE 63 ACQUISITIONS, 2017–2020
TABLE 64 PARTNERSHIPS, JVS, AND COLLABORATIONS, 2017–2020
TABLE 65 AGREEMENTS, 2017–2020
 
 
LIST OF FIGURES (47 Figures)
 
FIGURE 1 OIL CONDITION MONITORING MARKET: RESEARCH DESIGN
FIGURE 2 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
FIGURE 4 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 5 ASSUMPTION FOR RESEARCH STUDY
FIGURE 6 TURBINES ACCOUNTED FOR LARGEST SHARE OF MARKET, BY PRODUCT TYPE, IN 2019
FIGURE 7 OFF-SITE SAMPLING ACCOUNTED FOR LARGER SHARE OF OIL CONDITION MARKET THAN ON-SITE SAMPLING IN 2019
FIGURE 8 TRANSPORTATION INDUSTRY ACCOUNTED FOR LARGEST SHARE OF MARKET IN 2019
FIGURE 9 OIL CONDITION MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR FROM 2020 TO 2025
FIGURE 10 INCREASING DEMAND FOR COST-EFFECTIVE SOLUTIONS TO FUEL GROWTH OF MARKET FROM 2020 TO 2025
FIGURE 11 TURBINES TO ACCOUNT FOR LARGEST SIZE OF MARKET IN 2025
FIGURE 12 TRANSPORTATION TO HOLD LARGEST SIZE OF MARKET IN 2025
FIGURE 13 OFF-SITE SAMPLING TYPE AND NORTH AMERICA TO BE LARGEST SHAREHOLDERS IN OIL CONDITION MARKET IN 2020
FIGURE 14 US TO HOLD LARGEST SHARE OF MARKET IN 2020
FIGURE 15 MARKET DYNAMICS
FIGURE 16 DRIVERS FOR MARKET AND THEIR IMPACT
FIGURE 17 RESTRAINTS FOR MARKET AND THEIR IMPACT
FIGURE 18 OPPORTUNITIES FOR MARKET AND THEIR IMPACT
FIGURE 19 CHALLENGES FOR MARKET AND THEIR IMPACT
FIGURE 20 VALUE CHAIN ANALYSIS: MARKET
FIGURE 21 MARKET, BY SAMPLING TYPE
FIGURE 22 OFF-SITE SAMPLING TO HOLD LARGER SIZE OF MARKET IN  2025
FIGURE 23 MARKET, BY PRODUCT TYPE
FIGURE 24 TURBINES TO DOMINATE MARKET DURING FORECAST PERIOD
FIGURE 25 MEASUREMENT TYPES OF OIL CONDITION MONITORING
FIGURE 26 MARKET, BY INDUSTRY
FIGURE 27 TRANSPORTATION INDUSTRY TO HOLD LARGEST SIZE OF MARKET IN 2025
FIGURE 28 MARKET IN INDIA TO GROW AT HIGHEST CAGR FROM 2020 TO 2025
FIGURE 29 NORTH AMERICA: MARKET SNAPSHOT
FIGURE 30 EUROPE: MARKET SNAPSHOT
FIGURE 31 APAC: MARKET SNAPSHOT
FIGURE 32 MIDDLE EAST & AFRICA: MARKET
FIGURE 33 TRANSPORTATION TO HOLD LARGEST SIZE OF MARKET BY 2025
FIGURE 34 PRODUCT LAUNCHES EMERGED AS KEY GROWTH STRATEGY ADOPTED BY PLAYERS IN MARKET FROM 2017 TO 2020
FIGURE 35 RANKING OF TOP 5 PLAYERS IN MARKET, 2019
FIGURE 36 MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING
FIGURE 37 PRODUCT LAUNCHES WAS KEY STRATEGY ADOPTED BY LEADING MARKET PLAYERS FROM 2017 TO 2020
FIGURE 38 PARKER HANNIFIN: COMPANY SNAPSHOT
FIGURE 39 CHEVRON: COMPANY SNAPSHOT
FIGURE 40 GENERAL ELECTRIC: COMPANY SNAPSHOT
FIGURE 41 SHELL: COMPANY SNAPSHOT
FIGURE 42 BUREAU VERITAS: COMPANY SNAPSHOT
FIGURE 43 BP: COMPANY SNAPSHOT
FIGURE 44 EATON: COMPANY SNAPSHOT
FIGURE 45 INTERTEK GROUP: COMPANY SNAPSHOT
FIGURE 46 SGS: COMPANY SNAPSHOT
FIGURE 47 TOTAL: COMPANY SNAPSHOT

The study involves major activities for estimating the current size of the global oil condition monitoring market. Exhaustive secondary research was carried out to collect information on the market. The next step involved the validation of these findings, assumptions, and sizing with industry experts, identified in the value chain, through primary research. Both top-down and bottom-up approaches were employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources have been referred for identifying and collecting information important for this study. Secondary sources such as encyclopedias, directories, databases, associations [International Society for Condition Monitoring (ISCM), American Society for Testing and Materials (ASTM), Machinery Information Management Open System Alliance (MIMOSA)], and Investor Presentations, OneSource, and Factiva have been used to identify and collect information for an extensive technical and commercial study of the oil condition monitoring market.

Primary Research

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information important for this report. Primary sources, such as experts from related industries and suppliers, have been interviewed to obtain and verify critical information as well as to assess prospects. Key players in the oil condition monitoring market have been identified through secondary research, and their respective market rankings have been determined through primary and secondary research. This research includes the study of annual reports of the top market players and interviews with key opinion leaders, such as CEOs, directors, and marketing personnel.

Oil Condition Monitoring Market

Market Size Estimation

In the complete market engineering process, both top-down and bottom-up approaches have been implemented, along with several data triangulation methods, to estimate and validate the size of the oil condition monitoring market and other dependent submarkets listed in this report.

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.

All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size through the estimation process, the total oil condition monitoring market has been split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the market breakdown and data triangulation procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.

The objectives of the study are as follows:

  • To estimate and forecast the size of the oil condition monitoring market, in terms of value, based on product type, sampling type, industry, and geography
  • To describe and forecast the oil condition monitoring market size, in terms of value, for major regions—North America, Europe, APAC, South America and Middle East & Africa
  • To provide detailed information regarding measurement types of oil condition monitoring market
  • To provide detailed information regarding major factors such as drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To provide a comprehensive overview of the value chain of the oil condition monitoring ecosystem
  • To strategically analyze micromarkets1 with regard to individual market trends, growth prospects, and contributions to the total oil condition monitoring market
  • To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies2, along with detailed competitive landscape for the market leaders
  • To analyze growth strategies such as product launches, collaborations, joint ventures, agreements, partnerships, and acquisitions adopted by the key market players to enhance their position in the oil condition monitoring market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the oil condition monitoring market report.

Company information

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
SE 5498
Published ON
Mar, 2020
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