Oil Condition Monitoring Market Report: Trends, Forecast and Competitive Analysis to 2030

Oil Condition Monitoring Market Trends and Forecast

The future of the global oil condition monitoring market looks promising with opportunities in the transportation, industrial, oil & gas, power generation and mining markets. The global oil condition monitoring market is expected to reach an estimated $1.9 billion by 2030 with a CAGR of 7.1% from 2024 to 2030. The major drivers for this market are growing adoption of big analytics and IIOT, rising awareness of the importance of oil condition monitoring in various industries, and increasing need to reduce maintenance cost.

A more than 150-page report is developed to help in your business decisions.

Oil Condition Monitoring Market by Segment

The study includes trends and forecast for the global oil condition monitoring market by product type, sampling type, vertical, and region.

Oil Condition Monitoring Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:

• Turbines
• Compressors
• Engines
• Gear Systems
• Hydraulic Systems

Oil Condition Monitoring Market by Sampling Type [Shipment Analysis by Value from 2018 to 2030]:

• On-Site
• Off-Site

Oil Condition Monitoring Market by Vertical [Shipment Analysis by Value from 2018 to 2030]:

• Transportation
• Industrial
• Oil & Gas
• Power Generation
• Mining

Oil Condition Monitoring Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Oil Condition Monitoring Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies oil condition monitoring companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the oil condition monitoring companies profiled in this report include-

• BP
• Eaton Corporation
• Parker-Hannifin Corporation
• Totalenergies
• Shell
• General Electric
• Bureau Veritas
• SGS
• Chevron Corporation
• Intertek Group

Oil Condition Monitoring Market Insights

Lucintel forecasts that engine segment is expected to witness the highest growth over the forecast period.

Within this market, power generation segment will remain the largest segment.

APAC is expected to witness the highest growth over the forecast period.

Features of the Global Oil Condition Monitoring Market

Market Size Estimates: Oil condition monitoring market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Oil condition monitoring market size by product type, sampling type, vertical, and region. in terms of value ($B).

Regional Analysis: Oil condition monitoring market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different product type, sampling type, vertical and regions in oil condition monitoring market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the oil condition monitoring market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1. What is the oil condition monitoring market size?

Answer: The global oil condition monitoring market is expected to reach an estimated $1.9 billion by 2030.

Q.2. What is the growth forecast for oil condition monitoring market?

Answer: The global oil condition monitoring market is expected to grow with a CAGR of 7.1% from 2024 to 2030.

Q.3. What are the major drivers influencing the growth of the oil condition monitoring market?

Answer: The major drivers for this market are growing adoption of big analytics and IIOT, rising awareness of the importance of oil condition monitoring in various industries, and increasing need to reduce maintenance cost.

Q.4. What are the major segments for oil condition monitoring market?

Answer: The future of the global oil condition monitoring market looks promising with opportunities in the transportation, industrial, oil & gas, power generation and mining markets.

Q.5. Who are the key Oil Condition Monitoring companies?

Answer: Some of the key oil condition monitoring companies are as follows:

• BP
• Eaton Corporation
• Parker-Hannifin Corporation
• TotalEnergies
• Shell
• General Electric
• Bureau Veritas
• SGS
• Chevron Corporation
• Intertek Group

Q.6. Which oil condition monitoring market segment will be the largest in future?

Answer: Lucintel forecasts that engine segment is expected to witness the highest growth over the forecast period.

Q.7. In oil condition monitoring market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness the highest growth over the forecast period.

Q.8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the oil condition monitoring market by product type (turbines, compressors, engines, gear systems, and hydraulic systems), sampling type (on-site and off-site), vertical (transportation, industrial, oil & gas, power generation, and mining), and region. (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?