Global Oil Condition Monitoring Market to 2019-2024: Bureau Veritas, SGS, Intertek Group, Shell, Chevron Corporation, Castrol Limited, Unimarine, Veritas Petroleum Services

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Oil analysis provides a detailed view of what is happening within machine components during operation.

Scope of the Report:
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 worldwide market for Oil Condition Monitoring is expected to grow at a CAGR of roughly 9.5% over the next five years, will reach 820 million US$ in 2024, from 470 million US$ in 2019, according to a new GIR (Global Info Research) study.
This report focuses on the Oil Condition Monitoring in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.

Market Segment by Manufacturers, this report covers
Bureau Veritas
SGS
Intertek Group
Shell
Chevron Corporation
Castrol Limited
Unimarine
Veritas Petroleum Services
Insight Services Inc

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Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Market Segment by Type, covers
On-site
Off-site

Market Segment by Applications, can be divided into
Transportation
Industrial
Oil & Gas
Energy & Power
Mining

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The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Oil Condition Monitoring product scope, market overview, market opportunities, market driving force and market risks.
Chapter 2, to profile the top manufacturers of Oil Condition Monitoring, with price, sales, revenue and global market share of Oil Condition Monitoring in 2017 and 2018.
Chapter 3, the Oil Condition Monitoring competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Oil Condition Monitoring breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2014 to 2019.
Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2014 to 2019.
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