Pune, India, July 06, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, that worldwide oil condition monitoring market is slated to record a CAGR of 6.1% through 2028 and generate a remuneration of USD 192 million by the end of the analysis timeframe.
Proceeding further, a vivid analysis of the various market segmentations based on sampling type, end user scope, and regional expanse is provided in the report. It also investigates the major developments and strategies concerning the leading players to draw conclusions about the competitive dynamics. Apart from this, a thorough study of the entire industry chain in hosted in the document to help businesses in making well-informed decisions.
Increasing emphasis on time management and growing inclination towards cost effective approaches among the industrialists is the key factor fueling the industry remuneration.
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For the unversed, oil condition monitoring (OCM) is a critical aspect of any preventative maintenance agenda. Most common activities employed within OCM include measuring, monitoring, and analyzing any signs of contamination or degradation in the quality of the lubricant or fuel oil.
Focus on energy conservation by ensuring efficient working of machineries, and rising demand for electricity are likely to contribute significantly to industry expansion in the forthcoming years.
Despite the positive outlook, dearth of skilled workers as well as the cost incurred in renovating existing infrastructures will present major hinderances for the growth trajectory of the market during the analysis period.
Segmental outlook: -
Based on sampling type, worldwide oil condition monitoring industry is segregated into off-site and on-site. As per credible estimates, the on-site sampling segment is a promising avenue for revenue generation owing to its role in mitigating oil wastage & disposal, improving the efficiency of the equipment as well as saving time and limiting the expenditure on service and repairs.
Considering end user scope, the marketplace is bifurcated into transportation, oil & gas, mining, industrial, energy & power generation, and others. The transportation segment is slated to hold a decent industry share by 2028, attributable to growing dependability on oil tracking to prevent engine failures and subsequent mishaps. In addition, growing focus on installing real-time sensors for oil monitoring in automobiles will add to the segmental share.
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Regional overview: -
North America market is reckoned to garner a decent revenue share during the evaluation period of 2022-2028, ascribed to notable technological advancements in predictive maintenance as well proliferation of end use verticals such as automotive, mining, electricity generation, and oil & gas among others.
Competitive framework summary: -
Tan Delta Systems Ltd., Poseidon Systems LLC, Chevron Corporation, Eaton Corporation plc, Parker-Hannifin Corporation, Des-Case Corporation, Intertek Group plc, Shell plc, CM Technologies GmbH, Bureau Veritas S.A., SGS S.A., Micromem Applied Sensor Technologies Inc. (MAST), Gill Sensors & Controls Ltd., Bosch Rexroth AG, WIKA Tech S.A.S. (Avenisense), HYDAC Technology Corporation, and Spectro Analytical Instruments GmbH are the key players influencing global oil condition monitoring market trends.
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Global Oil Condition Monitoring Market by Sampling Type (Value, USD Million, 2018-2028)
- On-site
- Off-site
Global Oil Condition Monitoring Market by End User (Value, USD Million, 2018-2028)
- Oil & Gas
- Energy & Power Generation
- Transportation
- Mining
- Industrial
- Others
Global Oil Condition Monitoring Market by Region (Value, USD Million, 2018-2028)
- North America
- Asia Pacific
- Europe
- Rest of the World
Global Oil Condition Monitoring Market, Company Profiles (Value, USD Million, 2018-2028)
- Tan Delta Systems Ltd.
- Poseidon Systems LLC
- Chevron Corporation
- Eaton Corporation plc
- Parker-Hannifin Corporation
- Des-Case Corporation
- Intertek Group plc
- Shell plc
- CM Technologies GmbH
- Bureau Veritas S.A.
- SGS S.A.
- Micromem Applied Sensor Technologies Inc. (MAST)
- Gill Sensors & Controls Ltd.
- Bosch Rexroth AG
- WIKA Tech S.A.S. (Avenisense)
- HYDAC Technology Corporation
- Spectro Analytical Instruments GmbH
Table of Content:
FIGURES AND TABLES
PART 1. INTRODUCTION
- Report description
- Objectives of the study
- Market segment
- Years considered for the report
- Currency
- Key target audience
PART 2. METHODOLOGY
PART 3. EXECUTIVE SUMMARY
PART 4. MARKET OVERVIEW
- Introduction
- Drivers
- Restraints
- Impact of COVID-19 pandemic
PART 5. MARKET BREAKDOWN BY SAMPLING TYPE
- Off-site
- On-site
PART 6. MARKET BREAKDOWN BY END USER
- Energy & power generation
- Industrial
- Mining
- Oil & gas
- Transportation
- Others
PART 7. MARKET BREAKDOWN BY REGION
- Asia Pacific
- Europe
- North America
- Rest of the World (RoW)
PART 8. KEY COMPANIES
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