Oil Condition Monitoring Market to 2025: Bureau Veritas, SGS, Intertek Group, Shell, Chevron Corporation, Castrol Limited, Unimarine

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This report presents the worldwide Oil Condition Monitoring market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.

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.

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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.

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 Oil Condition Monitoring market was valued at 470 Million US$ in 2017 and is projected to reach 970 Million US$ by 2025, at a CAGR of 9.4% during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Oil Condition Monitoring.

The following manufacturers are covered in this report:
Bureau Veritas
SGS
Intertek Group
Shell
Chevron Corporation
Castrol Limited
Unimarine
Veritas Petroleum Services
Insight Services Inc

Oil Condition Monitoring Breakdown Data by Type
On-site
Off-site
Oil Condition Monitoring Breakdown Data by Application
Transportation
Industrial
Oil & Gas
Energy & Power
Mining

Oil Condition Monitoring Production by Region
United States
Europe
China
Japan
Other Regions

Oil Condition Monitoring Consumption by Region
North America
United States
Canada
Mexico
Asia-Pacific
China
India
Japan
South Korea
Australia
Indonesia
Malaysia
Philippines
Thailand
Vietnam
Europe
Germany
France
UK
Italy
Russia
Rest of Europe
Central & South America
Brazil
Rest of South America
Middle East & Africa
GCC Countries
Turkey
Egypt
South Africa
Rest of Middle East & Africa

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The study objectives are:
To analyze and research the global Oil Condition Monitoring status and future forecastinvolving, production, revenue, consumption, historical and forecast.
To present the key Oil Condition Monitoring manufacturers, production, revenue, market share, and recent development.
To split the breakdown data by regions, type, manufacturers and applications.
To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends, drivers, influence factors in global and regions.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.

In this study, the years considered to estimate the market size of Oil Condition Monitoring :
History Year: 2013 - 2017
Base Year: 2017
Estimated Year: 2018
Forecast Year: 2018 - 2025

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This report includes the estimation of market size for value (million USD) and volume (K Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Oil Condition Monitoring market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.

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