Oil Condition Monitoring Market

Parker Hannifin (US), Chevron (US), General Electric (US), Shell (Netherlands), and Bureau Veritas (France) are the leading players in the global Oil Condition Monitoring Market

Oil condition monitoring is the analysis of oil properties to determine its sustainability, contamination, and wear debris. Oil condition monitoring helps to understand and diagnose the health of machinery. The testing helps the clients avoid costly machinery, engine, and power-train failures with predictive maintenance and timely oil quality analysis.

The global oil condition monitoring market is expected to reach USD 1,175 million by 2025, from USD 779 million in 2020, at a CAGR of 8.5%. The market growth is attributed mainly to increasing demand for cost-effective solutions, growing need for time optimization, increasing demand for power generation drives the need for the continous oil monitoring in turbines, and reduction in maintenance cost.

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Parker Hannifin (US), Chevron (US), General Electric (US), Shell (Netherlands), and Bureau Veritas (France) are the leading players in the global oil condition monitoring market.

Parker Hannifin 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. Oil condition monitoring systems are manufactured and marketed through its filtration group under the diversified industrial segment. Moreover, the company offers its products through its divisions operating in 50 countries. The company is focused on strategic acquisitions to expand its product portfolio, gain access to new technologies, and enter into new markets. Moreover, the company focuses on research and development for products and services through its development laboratories and testing facilities.

Chevron is one of the leading integrated energy producers. The company has expertise in upstream, midstream, and downstream operations. It offers products such as engine oils, fuel additives, coolants, and oils for hydraulics, industrial, and transmission. Moreover, the company provides services for heavy-duty diesel vehicles, rec vehicles, and industrial machinery. The company offers oil analysis under its downstream division. It offers products and services under a few brands, such as Delo, Havoline, ISOCLEAN, and Techron. Chevron offers oil analysis services along with a contamination control system that reduces the downtime of the machine. Chevron focuses on providing innovative products according to the customers’ demand to enhance the performance of their engines.

Related Reports:

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

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Report Code
SE 5498
RI Published ON
3/23/2020
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