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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Oil Condition Monitoring Market

Oil Condition Monitoring Market size is expected to grow at a CAGR of 8.5% by 2025


Oil Condition Monitoring Market and Top Companies


  • Parker Hannifin (US) – The company is one of the leading diversified manufacturers of motion and control technologies and systems, providing precision-engineered solutions. The company operates through two business segments, namely, Diversified Industrial and Aerospace Systems. 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 in 49 other countries.
  • Chevron (US)– The Company was established in 1879 and is headquarters in San Ramon, US. The company is one of the leading integrated energy producers. The company has expertise in upstream, midstream, and downstream operations. It offers products such as engine oil, fuel additives, coolants, and oil for hydraulics, and industrial. The company offers services for heavy-duty diesel vehicles, recreational vehicles, and industrial machinery. It offers oil analysis under the downstream division. Chevron offers products and services under a few brands such as Delo, Havoline, ISOCLEAN, and Techron.
  • General Electric (US) – The company is one of the leading high-tech industrial companies. Its products and services range from aircraft engines, power generation, oil & gas equipment, medical imaging, and industrial applications. The company offers oil analysis services under its oil & gas division. The company’s manufacturing operations are carried out at 162 manufacturing plants located in 34 states in the United States and Puerto Rico and at 297 manufacturing plants located in 41 other countries.
  • Shell (The Netherlands) - The company is one of the leading companies in energy and petrochemicals. It has expertise in exploring, developing, producing, refining, and marketing oil and natural gas. The company operates through 3 business segments, namely, Integrated Gas, Upstream, and Downstream. The Upstream segment includes the exploration of oil and natural gas reserves by developing major projects with new technologies. The Integrated Gas segment focuses on liquefying natural gas (LNG) and converting gas to liquids (GTL), for safely storing and shipping to markets across the world. The Downstream segment focuses on turning crude oil into a range of refined products. The company operates in more than 70 countries.
  • Bureau Veritas (France) – The company is one of the leaders in testing, inspection, and certification (TIC) services. It operates through six business segments, namely, Buildings & Infrastructure, Agri-Food & Commodities, Industry, Consumer Products, Certification, and Marine & Offshore. The company offers services, which are designed to ensure that products, assets, and management systems conform to different standards and regulations in terms of quality, health, safety, environmental protection and social responsibility (QHSE). The company operates across 140 countries with 350 offices and laboratories in the Americas, the Middle East and Africa, Europe, and Asia Pacific (APAC).

Oil Condition Monitoring Market and Top Industries


  • Transportation – The transportation industry includes automotive, aerospace, marine, heavy vehicle, and locomotive. The transportation industry depends on the performance of assets to effectively perform its core business activities as a system downtime can affect the revenue of the transportation business. In the transportation industry, time plays a crucial role and any unplanned asset breakdown can heavily impact the business. Oil condition monitoring in the transportation industry helps organizations to better manage vehicle component wears and failures.
  • Industrial – The industrial sector involves oil condition monitoring in process manufacturing and discrete industries. Machines and equipment are used in a large number of industries. Operational issues are usually reflected in the condition of the lubricant oil being used in machines, equipment, and other components. Reducing oil maintenance expenses and minimizing equipment downtime are of major interest to operators of machine tools and industrial processing equipment. Oil condition monitoring services help to avoid machinery failure with the utilization of machine operation and failure analysis program.
  • Oil & Gas – The oil condition monitoring of on-shore and off-shore oil drilling rigs and other machinery is involved in the oil & gas industry. The performance and security of machines are important in upstream and downstream processes. Exploration and production equipment and machinery are subjected to constant exposure to harsh and demanding environments and working conditions. Thus, the machinery used should have proper lubrication for reliable and efficient operation. Equipment failure and mechanical problems can cause unplanned shutdowns and repairs.
  • Power Generation – Power generation is one of the emerging industries witnessing a rapid adoption of oil condition monitoring solutions. A number of machines, equipment, and components are used in the power generation industry. Equipment such as engines, turbines, gearboxes, and compressors are required to operate at high temperatures and pressure, which results, in the degradation of the quality of oil used in these equipment.
  • Mining – The mining industry implements the oil condition monitoring of machinery and vehicles, such as mining trucks, dump trucks, wheel loaders, motor graders, scrapers, and track-type tractors. The industry uses oil-dependent machinery or vehicles with hydraulics, engines, and gearboxes. The working of these machinery or vehicles may vary according to the condition. Thus, the load on engines, machinery, and equipment may result in the degradation of oil. Moreover, the equipment or machinery may fail due to minute changes in the oil condition.

Oil Condition Monitoring Market and Top Product


  • Turbines – The goal of an effective turbine oil analysis process is to maximize the reliability and availability of machinery while minimizing maintenance costs associated with repairs and downtime. Turbine oil analysis is one of the most commonly applied predictive-maintenance technologies. This is becoming even more important as turbines are built with longer and larger shafts and are operating under greater loads and at higher working temperatures with decreasing oil reservoir volumes. Turbine oil condition monitoring helps in the detection of physical and chemical properties of turbine oil such as degradation, contamination, density, viscosity, and metal chemicals.
  • Compressors – Compressors are used for a number of applications across industries. Lubricating oil in compressors is multifunctional and stabilizes the temperature during operation. Thus, equipment operators can use oil analysis to identify fluid degradation and monitor the health of compressors. Moreover, oil condition monitoring enables operators to make decisions on scheduling oil changes, filtration system effectiveness, compressor varnish, and other maintenance tasks based on the condition of oil.
  • Engines – Oil plays a vital role in engine performance. Thus, scheduled oil condition monitoring can enable the identification of mechanical problems before they impact the efficient running of machinery. The rapid developments in oil condition monitoring systems have taken place to determine engine lubricant degradation level for reducing power and maintenance losses.
  • Gear Systems – Gear systems are used in both industrial and mobile equipment. Poor lubrication, misalignment, and contamination lead to increased gear wear. It can exceed the operational tolerance leading to jamming, gear slippage, and tooth breakage, thereby, resulting in considerable downtime. Thus, oil analysis is a highly advantageous tool for gear systems, which helps in detecting failure conditions.
  • Hydraulic Systems – Hydraulic systems transfer force from one point to another using hydraulic fluid. Thus, for the proper functioning of hydraulic systems, the oil should remain free from contaminants and particles, which may cause a system failure. Moreover, the presence of water and high operating temperatures can degrade lubricant properties and increase acid formation, thereby increasing oxidation and reducing lubricity, which leads to the reduced life of the equipment. Thus, oil condition monitoring is used to detect and prevent system failures.

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?

Frequently Asked Questions (FAQ):

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



TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 16)
    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. - 19)
    2.1 RESEARCH DATA
           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. - 28)

4 PREMIUM INSIGHTS (Page No. - 31)
    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 (Page No. - 34)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Surging demand for cost-effective solutions
                    5.2.1.2 Rising need for optimization of time
                    5.2.1.3 Increasing demand for power generation
                    5.2.1.4 Growing focus on reducing maintenance cost
           5.2.2 RESTRAINTS
                    5.2.2.1 Additional expenses incurred in retrofitting existing systems
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increasing adoption of big data analytics
                    5.2.3.2 Rising use of Industrial Internet of Things
           5.2.4 CHALLENGES
                    5.2.4.1 Limited availability of skilled personnel at remote locations
    5.3 VALUE CHAIN ANALYSIS
    5.4 TYPES OF OIL CONTAMINATION
           5.4.1 WATER CONTAMINATION
           5.4.2 PARTICLE CONTAMINATION
    5.5 IMPACT OF COVID-19 ON OIL CONDITION MONITORING

6 PARAMETERS FOR MEASURING OIL CONDITION (Page No. - 42)
    6.1 INTRODUCTION
    6.2 TEMPERATURE
    6.3 PRESSURE
    6.4 DENSITY
    6.5 VISCOSITY
    6.6 DIELECTRIC
    6.7 TAN
    6.8 TBN
    6.9 WATER DILUTION
    6.10 FUEL DILUTION
    6.11 SOOT
    6.12 WEAR PARTICLES

7 OIL CONDITION MONITORING MARKET, BY PRODUCT TYPE (Page No. - 45)
    7.1 INTRODUCTION
    7.2 TURBINES
           7.2.1 INCREASING NEED TO MAXIMIZE RELIABILITY AND AVAILABILITY OF MACHINERY TO DRIVE OIL CONDITION MONITORING MARKET FOR TURBINES
    7.3 COMPRESSORS
           7.3.1 REDUCTION IN MAINTENANCE COST 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 OIL CONDITION MONITORING PROVIDES OPERATING CONDITION AND STATUS OF HYDRAULIC SYSTEMS

8 OIL CONDITION MONITORING MARKET, BY SAMPLING TYPE (Page No. - 56)
    8.1 INTRODUCTION
    8.2 OFF-SITE SAMPLING
           8.2.1 TURBINES TO ACCOUNT FOR LARGER SIZE OF OFF-SITE OIL CONDITION MONITORING MARKET IN 2025
    8.3 ON-SITE SAMPLING
           8.3.1 TRANSPORTATION INDUSTRY TO LEAD ON-SITE OIL CONDITION MONITORING MARKET IN 2025

9 OIL CONDITION MONITORING MARKET, BY INDUSTRY (Page No. - 61)
    9.1 INTRODUCTION
    9.2 TRANSPORTATION
           9.2.1 AUTOMOTIVE
                    9.2.1.1 Engines to account for largest size of market for automotive in 2025
           9.2.2 AEROSPACE
                    9.2.2.1 Turbine market for aerospace industry 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 REGION (Page No. - 73)
     10.1 INTRODUCTION
     10.2 NORTH AMERICA
             10.2.1 US
                        10.2.1.1 Growing manufacturing industries to boost oil condition monitoring market growth
             10.2.2 CANADA
                        10.2.2.1 Investments in oil & gas industry to drive demand for oil condition monitoring market in Canada
             10.2.3 MEXICO
                        10.2.3.1 Increasing automation across industries to propel Mexican oil condition monitoring market growth
     10.3 EUROPE
             10.3.1 UK
                        10.3.1.1 Investments in manufacturing sector and renewables to foster growth of oil condition monitoring market in UK
             10.3.2 GERMANY
                        10.3.2.1 Growing focus on 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 demand for oil condition monitoring in France
             10.3.4 REST OF EUROPE
                        10.3.4.1 Growing mining activities to increase demand for oil condition monitoring
     10.4 ASIA PACIFIC
             10.4.1 CHINA
                        10.4.1.1 Growing oil & gas activities and investments in mining to fuel 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 offered by oil condition monitoring to boost its market in Japan
             10.4.3 INDIA
                        10.4.3.1 Growth in industrial and manufacturing sectors to drive oil condition monitoring market in India
             10.4.4 REST OF APAC
                        10.4.4.1 Growth in mining sector to increase 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 propel oil condition monitoring market growth
             10.5.2 AFRICA
                        10.5.2.1 Oil & gas activities driving demand for oil condition monitoring in Africa
     10.6 SOUTH AMERICA

11 COMPETITIVE LANDSCAPE (Page No. - 89)
     11.1 OVERVIEW
     11.2 RANKING OF PLAYERS IN OIL CONDITION MONITORING MARKET
     11.3 COMPETITIVE LEADERSHIP MAPPING
             11.3.1 VISIONARIES
             11.3.2 INNOVATORS
             11.3.3 DYNAMIC DIFFERENTIATORS
             11.3.4 EMERGING COMPANIES
     11.4 COMPETITIVE SITUATIONS & TRENDS
             11.4.1 PRODUCT LAUNCHES

12 COMPANY PROFILES (Page No. - 96)
(Business Overview, Products/Solutions/Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
     12.1 KEY PLAYERS
             12.1.1 PARKER HANNIFIN
             12.1.2 CHEVRON
             12.1.3 GENERAL ELECTRIC
             12.1.4 SHELL
             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 DELTA SERVICES INDUSTRIELS
             12.3.3 MICROMEM
             12.3.4 POSEIDON SYSTEM
             12.3.5 SPECTRO
             12.3.6 TESTOIL
             12.3.7 TRIBOMAR
             12.3.8 TRICO
             12.3.9 TECHENOMICS
             12.3.10 UNIMARINE

*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.

13 APPENDIX (Page No. - 122)
     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
     13.6 AUTHOR DETAILS


LIST OF TABLES (65 TABLES)

TABLE 1 OIL CONDITION MONITORING MARKET, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 2 OIL CONDITION MONITORING MARKET FOR TURBINES, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 3 OIL CONDITION MONITORING MARKET FOR TURBINES, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 4 OIL CONDITION MONITORING MARKET FOR TURBINES, BY TRANSPORTATION INDUSTRY, 2017–2025 (USD MILLION)
TABLE 5 OIL CONDITION MONITORING MARKET FOR TURBINES, BY REGION, 2017–2025 (USD MILLION)
TABLE 6 OIL CONDITION MONITORING MARKET FOR COMPRESSORS, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 7 OIL CONDITION MONITORING MARKET FOR COMPRESSORS, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 8 OIL CONDITION MONITORING MARKET FOR COMPRESSORS, BY TRANSPORTATION INDUSTRY, 2017–2025 (USD MILLION)
TABLE 9 OIL CONDITION MONITORING MARKET FOR COMPRESSORS, BY REGION, 2017–2025 (USD MILLION)
TABLE 10 OIL CONDITION MONITORING MARKET FOR ENGINES, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 11 OIL CONDITION MONITORING MARKET FOR ENGINES, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 12 OIL CONDITION MONITORING MARKET FOR ENGINES, BY TRANSPORTATION INDUSTRY, 2017–2025 (USD MILLION)
TABLE 13 OIL CONDITION MONITORING MARKET FOR ENGINES, BY REGION, 2017–2025 (USD MILLION)
TABLE 14 OIL CONDITION MONITORING MARKET FOR GEAR SYSTEMS, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 15 OIL CONDITION MONITORING MARKET FOR GEAR SYSTEMS, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 16 OIL CONDITION MONITORING MARKET FOR GEAR SYSTEMS, BY TRANSPORTATION INDUSTRY, 2017–2025 (USD MILLION)
TABLE 17 OIL CONDITION MONITORING MARKET FOR GEAR SYSTEMS, BY REGION, 2017–2025 (USD MILLION)
TABLE 18 OIL CONDITION MONITORING MARKET FOR HYDRAULIC SYSTEMS, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 19 OIL CONDITION MONITORING MARKET FOR HYDRAULIC SYSTEMS, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 20 OIL CONDITION MONITORING MARKET FOR HYDRAULIC SYSTEMS, BY TRANSPORTATION INDUSTRY, 2017–2025 (USD MILLION)
TABLE 21 OIL CONDITION MONITORING MARKET FOR HYDRAULIC SYSTEMS, BY REGION, 2017–2025 (USD MILLION)
TABLE 22 OIL CONDITION MONITORING MARKET, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 23 OIL CONDITION MONITORING MARKET FOR OFF-SITE SAMPLING, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 24 OIL CONDITION MONITORING MARKET FOR OFF-SITE SAMPLING, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 25 OIL CONDITION MONITORING MARKET FOR ON-SITE SAMPLING, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 26 OIL CONDITION MONITORING MARKET FOR ON-SITE SAMPLING, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 27 OIL CONDITION MONITORING MARKET, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 28 OIL CONDITION MONITORING MARKET FOR TRANSPORTATION INDUSTRY, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 29 OIL CONDITION MONITORING MARKET FOR TRANSPORTATION INDUSTRY, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 30 OIL CONDITION MONITORING MARKET FOR TRANSPORTATION INDUSTRY, BY REGION, 2017–2025 (USD MILLION)
TABLE 31 OIL CONDITION MONITORING MARKET FOR AUTOMOTIVE INDUSTRY, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 32 OIL CONDITION MONITORING MARKET FOR AEROSPACE INDUSTRY, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 33 OIL CONDITION MONITORING MARKET FOR MARINE INDUSTRY, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 34 OIL CONDITION MONITORING MARKET FOR HEAVY VEHICLE INDUSTRY, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 35 OIL CONDITION MONITORING MARKET FOR LOCOMOTIVE INDUSTRY, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 36 OIL CONDITION MONITORING MARKET FOR INDUSTRIAL, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 37 OIL CONDITION MONITORING MARKET FOR INDUSTRIAL, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 38 OIL CONDITION MONITORING MARKET FOR INDUSTRIAL, BY REGION, 2017–2025 (USD MILLION)
TABLE 39 OIL CONDITION MONITORING 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 OIL CONDITION MONITORING MARKET FOR OIL & GAS INDUSTRY, BY REGION, 2017–2025 (USD MILLION)
TABLE 42 OIL CONDITION MONITORING MARKET FOR POWER GENERATION INDUSTRY, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 43 OIL CONDITION MONITORING MARKET FOR POWER GENERATION INDUSTRY, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 44 OIL CONDITION MONITORING MARKET FOR POWER GENERATION INDUSTRY, BY REGION, 2017–2025 (USD MILLION)
TABLE 45 OIL CONDITION MONITORING MARKET FOR MINING INDUSTRY, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 46 OIL CONDITION MONITORING MARKET FOR MINING INDUSTRY, BY SAMPLING TYPE, 2017–2025 (USD MILLION)
TABLE 47 OIL CONDITION MONITORING MARKET FOR MINING INDUSTRY, BY REGION, 2017–2025 (USD MILLION)
TABLE 48 OIL CONDITION MONITORING MARKET, BY REGION, 2017–2025 (USD MILLION)
TABLE 49 OIL CONDITION MONITORING MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 50 OIL CONDITION MONITORING MARKET IN NORTH AMERICA, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 51 OIL CONDITION MONITORING MARKET IN NORTH AMERICA, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 52 OIL CONDITION MONITORING MARKET IN EUROPE, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 53 OIL CONDITION MONITORING MARKET IN EUROPE, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 54 OIL CONDITION MONITORING MARKET IN EUROPE, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 55 OIL CONDITION MONITORING MARKET IN ASIA PACIFIC, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 56 OIL CONDITION MONITORING MARKET IN ASIA PACIFIC, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 57 OIL CONDITION MONITORING MARKET IN APAC, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 58 OIL CONDITION MONITORING MARKET IN MIDDLE EAST & AFRICA, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 59 OIL CONDITION MONITORING MARKET IN MIDDLE EAST & AFRICA, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 60 OIL CONDITION MONITORING MARKET IN SOUTH AMERICA, BY PRODUCT TYPE, 2017–2025 (USD MILLION)
TABLE 61 OIL CONDITION MONITORING 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 OIL CONDITION MONITORING 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 OIL CONDITION MONITORING 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 OIL CONDITION MONITORING MARKET FROM 2020 TO 2025
FIGURE 11 TURBINES TO ACCOUNT FOR LARGEST SIZE OF OIL CONDITION MONITORING MARKET IN 2025
FIGURE 12 TRANSPORTATION TO HOLD LARGEST SIZE OF OIL CONDITION MONITORING 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 OIL CONDITION MONITORING MARKET IN 2020
FIGURE 15 OIL CONDITION MONITORING MARKET DYNAMICS
FIGURE 16 DRIVERS OF OIL CONDITION MONITORING MARKET AND THEIR IMPACT
FIGURE 17 RESTRAINT FOR OIL CONDITION MONITORING MARKET AND ITS IMPACT
FIGURE 18 OPPORTUNITIES FOR OIL CONDITION MONITORING MARKET AND THEIR IMPACT
FIGURE 19 CHALLENGE FOR OIL CONDITION MONITORING MARKET AND ITS IMPACT
FIGURE 20 VALUE CHAIN ANALYSIS: OIL CONDITION MONITORING ECOSYSTEM
FIGURE 21 PARAMETERS FOR MEASURING OIL CONDITION
FIGURE 22 OIL CONDITION MONITORING MARKET, BY PRODUCT TYPE
FIGURE 23 TURBINES TO DOMINATE OIL CONDITION MONITORING MARKET DURING FORECAST PERIOD
FIGURE 24 OIL CONDITION MONITORING MARKET, BY SAMPLING TYPE
FIGURE 25 OFF-SITE SAMPLING TO HOLD LARGER SIZE OF OIL CONDITION MONITORING MARKET IN 2025
FIGURE 26 OIL CONDITION MONITORING MARKET, BY INDUSTRY
FIGURE 27 TRANSPORTATION INDUSTRY TO HOLD LARGEST SIZE OF OIL CONDITION MONITORING MARKET IN 2025
FIGURE 28 OIL CONDITION MONITORING MARKET IN INDIA TO GROW AT HIGHEST CAGR FROM 2020 TO 2025
FIGURE 29 NORTH AMERICA: OIL CONDITION MONITORING MARKET SNAPSHOT
FIGURE 30 EUROPE: OIL CONDITION MONITORING MARKET SNAPSHOT
FIGURE 31 APAC: OIL CONDITION MONITORING MARKET SNAPSHOT
FIGURE 32 MIDDLE EAST & AFRICA: OIL CONDITION MONITORING MARKET
FIGURE 33 TRANSPORTATION TO HOLD LARGEST SIZE OF OIL CONDITION MONITORING MARKET IN MIDDLE EAST & AFRICA IN 2025
FIGURE 34 PRODUCT LAUNCHES EMERGED AS KEY GROWTH STRATEGY ADOPTED BY PLAYERS IN OIL CONDITION MONITORING MARKET FROM 2017 TO 2020
FIGURE 35 RANKING OF TOP 5 PLAYERS IN OIL CONDITION MONITORING MARKET, 2019
FIGURE 36 OIL CONDITION MONITORING MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2019
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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