HOME Research Insight Bureau Veritas SA (France) and Intertek Group plc (UK) are the leading Players in the Olil Condition Monitoring Market

Bureau Veritas SA (France) and Intertek Group plc (UK) are the leading Players in the Olil Condition Monitoring Market

The oil condition monitoring market is highly competitive owing to the presence of several established and emerging players. This market is expected to grow at a CAGR of 9.1% between 2017 and 2023.

Product launches and developments and service launches, and expansions and acquisitions accounted for a share of ~55% and ~32%, respectively, of the overall growth strategies adopted by the players between January 2014 and April 2017 to grow in the oil condition monitoring market.

The increasing concern for time and cost optimization of oil condition monitoring services has encouraged the companies to adopt these strategies. Besides product launches and developments and service launches, and expansion and acquisitions, the companies have also adopted partnerships and joint ventures to expand their business operations, product portfolio, and distribution network as well as to strengthen their position and increase their share in this market.

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Bureau Veritas SA (France) is one of the leading oil condition monitoring service providers in the world. The company provides oil analysis services based on a centralized database, which provides the right information at the right time to reduce machine failure. The company has a strong geographic presence with offices located in 140 countries in the Americas, the Middle East and Africa, Europe, and Asia Pacific (APAC). The company is gaining a competitive advantage through product development and expansion strategies. For instance, in August 2016, Bureau Veritas introduced the Lube Oil Analysis Management System (LOAMS) software in Dubai. Moreover, in November 2015, the company established its testing laboratories in South Africa.

Intertek Group plc (UK), one of the leading Total Quality Assurance providers, offers its services to industries worldwide. The company offers rapid, efficient, and reliable testing and certification services to its customers. The company has a global presence with more than 1,000 sites in over 100 countries in various regions including North and South America, Europe, the Middle East and Africa, and Asia Pacific (APAC). The company helps customers to avoid investing in costly machinery, and engine and power failure through its oil conditioning monitoring service offering.

Related Reports:

Oil Condition Monitoring Market by Sampling Type (On-Site and Off-Site), Product Type (Turbine, Compressors Engine, Gear System, and Hydraulic System), Measurement Type, Industry (Transportation, Energy & Power), and Geography - Global Forecast to 2023

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