Oil Condition Monitoring Market by Component, Sampling Type, Product, Vertical, Deployment - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation

Description

List of Tables

The Global Oil Condition Monitoring Market is forecasted to grow significantly, with a projected USD 2,205.45 million in 2023 at a CAGR of 12.39% and expected to reach a staggering USD 5,017.54 million by 2030.

The Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation is expected to have significant long-term effects on the Global Oil Condition Monitoring Market. The ongoing research considers the changes in consumer behavior, supply chain disruptions, and government interventions caused by the pandemic. Similarly, the report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading. Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.

Market Segmentation & Coverage:

This research report categorizes the Global Oil Condition Monitoring Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Component, market is studied across Compressors, Engines, Gear System, Hydraulic System, Tooling Systems, Transformers, and Turbine. The Engines commanded largest market share of 21.78% in 2022, followed by Turbine.

Based on Sampling Type, market is studied across Off-site and On-site. The On-site is further studied across Fixed Continuous Monitoring and Portable Kit. The On-site commanded largest market share of 72.34% in 2022, followed by Off-site.

Based on Product, market is studied across Hardware, Services, and Software. The Hardware is further studied across Sensors, Spectrometer, and Temperature Monitor. The Services is further studied across Lubricant Testing and Oil Analysis. The Software is further studied across Asset Management Software, Compliance Tracking Software, and Oil Management System. The Hardware commanded largest market share of 65.76% in 2022, followed by Services.

Based on Vertical, market is studied across Industrial, Mining, Oil & Gas, Power Generation, and Transportation. The Transportation is further studied across Aerospace, Automobile, Locomotive Engine, and Marine. The Transportation commanded largest market share of 28.32% in 2022, followed by Industrial.

Based on Deployment, market is studied across On-Cloud and On-Premise. The On-Cloud commanded largest market share of 98.77% in 2022, followed by On-Premise.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 43.68% in 2022, followed by Asia-Pacific.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Global Oil Condition Monitoring Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation

5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Oil Condition Monitoring Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Oil Condition Monitoring Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Oil Condition Monitoring Market?

4. What is the competitive strategic window for opportunities in the Global Oil Condition Monitoring Market?

5. What are the technology trends and regulatory frameworks in the Global Oil Condition Monitoring Market?

6. What is the market share of the leading vendors in the Global Oil Condition Monitoring Market?

7. What modes and strategic moves are considered suitable for entering the Global Oil Condition Monitoring Market?

Product Code: MRR-3E32260F8003

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Oil Condition Monitoring Market, by Component, 2022 vs 2030
4.3. Oil Condition Monitoring Market, by Sampling Type, 2022 vs 2030
4.4. Oil Condition Monitoring Market, by Product, 2022 vs 2030
4.5. Oil Condition Monitoring Market, by Vertical, 2022 vs 2030
4.6. Oil Condition Monitoring Market, by Deployment, 2022 vs 2030
4.7. Oil Condition Monitoring Market, by Region, 2022 vs 2030

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing Demand for Cost-Effective Solutions for Improving Machinery Health & Performance
  - 5.1.1.2. Inclination toward Predictive Maintenance Programs among End-Use Industries
  - 5.1.1.3. Growing Industrialization and Adoption of Heavy Machineries
- 5.1.2. Restraints
  - 5.1.2.1. Shortcomings of Offline Oil Sampling and Limitations of Sensors
- 5.1.3. Opportunities
  - 5.1.3.1. Increasing Adoption of Big Data Analytics and Cloud-Based IIoT in Oil Condition Monitoring Systems
  - 5.1.3.2. Rising Applications of Online Oil Condition Monitoring in Various Industries
- 5.1.4. Challenges
  - 5.1.4.1. Lack of Skilled Professionals and Technical Resources for Data Analysis
5.2. Market Trends
5.3. Cumulative Impact of COVID-19
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework
5.9. Client Customization

6. Oil Condition Monitoring Market, by Component

6.1. Introduction
6.2. Compressors
6.3. Engines
6.4. Gear System
6.5. Hydraulic System
6.6. Tooling Systems
6.7. Transformers
6.8. Turbine

7. Oil Condition Monitoring Market, by Sampling Type

7.1. Introduction
7.2. Off-site
7.3. On-site
- 7.3.1. Fixed Continuous Monitoring
- 7.3.2. Portable Kit

8. Oil Condition Monitoring Market, by Product

8.1. Introduction
8.2. Hardware
- 8.2.1. Sensors
- 8.2.2. Spectrometer
- 8.2.3. Temperature Monitor
8.3. Services
- 8.3.1. Lubricant Testing
- 8.3.2. Oil Analysis
8.4. Software
- 8.4.1. Asset Management Software
- 8.4.2. Compliance Tracking Software
- 8.4.3. Oil Management System

9. Oil Condition Monitoring Market, by Vertical

9.1. Introduction
9.2. Industrial
9.3. Mining
9.4. Oil & Gas
9.5. Power Generation
9.6. Transportation
- 9.6.1. Aerospace
- 9.6.2. Automobile
- 9.6.3. Locomotive Engine
- 9.6.4. Marine

10. Oil Condition Monitoring Market, by Deployment

10.1. Introduction
10.2. On-Cloud
10.3. On-Premise

11. Americas Oil Condition Monitoring Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Oil Condition Monitoring Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Oil Condition Monitoring Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. FPNV Positioning Matrix
14.2. Market Share Analysis, By Key Player
14.3. Competitive Scenario Analysis, By Key Player
- 14.3.1. Merger & Acquisition
  - 14.3.1.1. Baker Hughes Strengthens Oil and Gas Market with Acquisition of Altus Intervention.
- 14.3.2. Agreement, Collaboration, & Partnership
  - 14.3.2.1. HydraForce Partners with Tan Delta Systems to Improve Oil Condition Monitoring.
  - 14.3.2.2. Gastops Expands Support for Oil Condition Monitoring Research and Development.
  - 14.3.2.3. Introducing Real-Time Oil Data Analytics with ZE PowerGroup and OiLX.
- 14.3.3. New Product Launch & Enhancement
  - 14.3.3.1. How Oil Condition Monitoring Can Improve Your Hydraulic Fluid Health.
  - 14.3.3.2. Doble's InsideView 6 Delivers Predictive Maintenance and Intelligence for the Enterprise.
  - 14.3.3.3. Industrial AI Startup OnePredict Rolls Out Substation Solution at IEEE PES TD 2022.
  - 14.3.3.4. SGS Launches BunkerPro, A Global Fuel Testing Program for the Oil and Gas.
- 14.3.4. Investment & Funding
  - 14.3.4.1. SGS Unveils New LPG Testing Capabilities at Dubai Laboratory
  - 14.3.4.2. Beyond Oil Announces Expanded Product Offerings for Oil Condition Monitoring.
  - 14.3.4.3. Scottish Tech Firm Gets $2.2M Investment for Oil Condition Monitoring System.
- 14.3.5. Award, Recognition, & Expansion
  - 14.3.5.1. Cleveland Brothers Introduced New Fluid Analysis Lab.

15. List of Company Mentioned

16. Appendix

16.1. Discussion Guide
16.2. License & Pricing