Albany, NY -- (SBWIRE) -- 07/09/2018 -- This report studies the global Oil Condition Monitoring market status and forecast, categorizes the global Oil Condition Monitoring market size (value & volume) by key players, type, application, and region. This report focuses on the top players in North America, Europe, China, Japan, Southeast Asia India and Other regions (Middle East & Africa, Central & South America).
Oil analysis provides a detailed view of what is happening within machine components during operation. Factors such as growing demand for economical solutions, increasing need for time optimization, and rising demand for electricity that drives the need for continuous oil monitoring in turbines are fueling the market growth. Companies are persistently looking for different cost-effective ways to reduce the cost of oil condition monitoring. However, extra costs incurred in retrofitting existing systems are one of the key factors hampering the market growth.
On-site oil condition monitoring has assisted manufacturers to considerably enhance their productivity, efficiency, and profitability with regard to predictive maintenance. The off-site oil condition monitoring growth can be attributed to the higher adoption of traditional monitoring systems. It mainly consists of testing the oil samples at company-operated laboratories or third-party laboratories. Most of the oil condition monitoring firms is engaged in laboratory testing for better and in-detailed analysis of the sample.
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Turbines have vital applications in verticals such as power, locomotive, and aerospace. The turbines used in these verticals work under very high pressure. The turbines are more prone to be broken at such a high pressure, owing to friction, which reduces the life of the system. To stay away from system breakdown, firms use high-quality oil as a lubricant in these turbines, thereby reducing the friction caused due to high pressure. Furthermore, there is a need for continuous monitoring of the oil quality to make sure the smooth operation of the system. There is a growing demand for energy in developing countries such as China, India, and Brazil, which would boost the need for oil condition monitoring services.
Some of the key players in the market include Bureau Veritas, Castrol Limited, Chevron Corporation, SGS, Intertek Group, Shell, Test Oil (Insight Services Inc) and Unimarine.
The global Oil Condition Monitoring market is valued at 470 million US$ in 2017 and will reach 970 million US$ by the end of 2025, growing at a CAGR of 9.4% during 2018-2025.
The major players covered in this report
- Bureau Veritas
- SGS
- Intertek Group
- Shell
- Chevron Corporation
- Castrol Limited
- Unimarine
- Veritas Petroleum Services
- Insight Services Inc
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
- On-site
- Off-site
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, sales volume, market share and growth rate for each application, including
- Transportation
- Industrial
- Oil & Gas
- Energy & Power
- Mining
View Complete TOC with Tables and Figures at: https://www.researchmoz.us/global-oil-condition-monitoring-sales-market-report-2018-report.html/toc
Key Stakeholders
- Oil Condition Monitoring Manufacturers
- Oil Condition Monitoring Distributors/Traders/Wholesalers
- Oil Condition Monitoring Subcomponent Manufacturers
- Industry Association
- Downstream Vendors
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