Market Overview:
The global off-site oil condition monitoring system market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for oil and gas, rising concerns over equipment failures, and the growing need for predictive maintenance. The hydraulic systems segment is expected to hold the largest share of the global off-site oil condition monitoring system market in 2018. This segment is projected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030.
Product Definition:
An off-site oil condition monitoring system is a tool used to remotely monitor the condition of an oilfield's production equipment. This system can be used to detect issues with production equipment, such as leaks or mechanical problems, and send alerts to operators so they can take corrective action. The use of an off-site oil condition monitoring system can help improve safety and efficiency in an oilfield by reducing the need for on-site inspections.
Hydraulic Systems:
Hydraulic systems are used in the OSSCS industry for various applications such as oil extraction, well stimulation and formation, reservoir monitoring and control among others. The growth factor that is expected to drive this market is increasing demand from emerging economies of Asia Pacific and Latin America. These regions have been witnessing strong economic growth over the past few years which has led to an increased demand for energy resources.
Engines:
An engines is a device that aids in the conversion of chemical energy into useful forms. The most common form of an engine is the internal combustion engine, which involves a piston moving within a cylinder, which causes fuel to expand and enter another cycle. The working principle of this type of engine can be simplified as follows: “Expansion -> Compression -> Expansion”.
Application Insights:
The energy segment accounted for the largest revenue share of over 30% in 2017. The growth can be attributed to the growing demand for oil-fired power plants and gas-fired power plants owing to concerns regarding greenhouse gas emissions. Furthermore, increasing investments by governments in renewable energy sources such as wind and solar are expected to drive the demand over the forecast period.
The transportation segment is anticipated to witness a CAGR of XX% from 2018 to 2030 owing to rising investments by companies such as GE Energy & Power, Siemens, ABB, and Mitsubishi Electric Corporation among others in developing electric vehicles with improved efficiency that reduces fuel consumption significantly without compromising on performance or comfort offered by internal combustion engines powered vehicles currently used across various applications including marine diesel engines used on ships among others which is expected drive market growth over the forecast period.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing market for OOSOCM with a CAGR of XX% from 2018 to 2030 owing to increasing demand for oil and gas across economies such as China, India, Indonesia, Malaysia and Thailand. Furthermore, rising investments in offshore projects by countries such as Vietnam and China are anticipated to drive the regional market growth over the forecast period.
North America accounted for more than 25% of global revenue share in 2017 owing to high awareness levels regarding condition monitoring systems coupled with stringent regulations laid down by regulatory bodies pertaining Condition Monitoring (CM) & Preventive Maintenance (PM) like American Petroleum Institute (API), Society of Automotive Engineers (SAE), National Fire Protection Association(NFPA). These organizations have defined standards related preventive maintenance schedules along with other associated requirements that must be followed when installing off-site oil condition monitoring system using various sensors including ultrasonic waves/pings/vibration etc.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization
- Rising concerns over environmental pollution and safety issues related to on-site oil monitoring systems
- Proliferation of wireless communication technologies and big data analytics
- Growing popularity of predictive maintenance techniques
- Increasing investments in the oil & gas sector
Scope Of The Report
Report Attributes
Report Details
Report Title
Off-Site Oil Condition Monitoring System Market Research Report
By Type
Hydraulic Systems, Engines, Turbines, Compressors, Gear Systems
By Application
Oli & Gas, Transportation, Energy, Others
By Companies
Intertek Group Plc., Castrol Limited, TestOil, Spectro Analytical Instruments GmbH., Bureau Veritas SA, Parker Hannifin Corporation, General Electric Company
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
241
Number of Tables & Figures
169
Customization Available
Yes, the report can be customized as per your need.
Global Off-Site Oil Condition Monitoring System Market Report Segments:
The global Off-Site Oil Condition Monitoring System market is segmented on the basis of:
Types
Hydraulic Systems, Engines, Turbines, Compressors, Gear Systems
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oli & Gas, Transportation, Energy, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Intertek Group Plc.
- Castrol Limited
- TestOil
- Spectro Analytical Instruments GmbH.
- Bureau Veritas SA
- Parker Hannifin Corporation
- General Electric Company
Highlights of The Off-Site Oil Condition Monitoring System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hydraulic Systems
- Engines
- Turbines
- Compressors
- Gear Systems
- By Application:
- Oli & Gas
- Transportation
- Energy
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Off-Site Oil Condition Monitoring System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An off-site oil condition monitoring system (OSOCMS) is a type of sensor that monitors the health of an oilfield or pipeline. OSOCMS sensors are placed at strategic locations throughout the field or pipeline to detect early signs of problems, such as leaks, and provide real-time alerts to operators. By detecting these problems early, operators can take appropriate action to prevent them from becoming larger and more costly.
Some of the major players in the off-site oil condition monitoring system market are Intertek Group Plc., Castrol Limited, TestOil, Spectro Analytical Instruments GmbH., Bureau Veritas SA, Parker Hannifin Corporation, General Electric Company.
The off-site oil condition monitoring system market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Off-Site Oil Condition Monitoring System Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Off-Site Oil Condition Monitoring System Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Off-Site Oil Condition Monitoring System Market - Supply Chain
4.5. Global Off-Site Oil Condition Monitoring System Market Forecast
4.5.1. Off-Site Oil Condition Monitoring System Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Off-Site Oil Condition Monitoring System Market Size (000 Units) and Y-o-Y Growth
4.5.3. Off-Site Oil Condition Monitoring System Market Absolute $ Opportunity
5. Global Off-Site Oil Condition Monitoring System Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Type
5.3.1. Hydraulic Systems
5.3.2. Engines
5.3.3. Turbines
5.3.4. Compressors
5.3.5. Gear Systems
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Off-Site Oil Condition Monitoring System Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Application
6.3.1. Oli & Gas
6.3.2. Transportation
6.3.3. Energy
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Off-Site Oil Condition Monitoring System Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Off-Site Oil Condition Monitoring System Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Off-Site Oil Condition Monitoring System Demand Share Forecast, 2019-2026
9. North America Off-Site Oil Condition Monitoring System Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Application
9.4.1. Oli & Gas
9.4.2. Transportation
9.4.3. Energy
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Type
9.7.1. Hydraulic Systems
9.7.2. Engines
9.7.3. Turbines
9.7.4. Compressors
9.7.5. Gear Systems
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Off-Site Oil Condition Monitoring System Demand Share Forecast, 2019-2026
10. Latin America Off-Site Oil Condition Monitoring System Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Application
10.4.1. Oli & Gas
10.4.2. Transportation
10.4.3. Energy
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Type
10.7.1. Hydraulic Systems
10.7.2. Engines
10.7.3. Turbines
10.7.4. Compressors
10.7.5. Gear Systems
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Off-Site Oil Condition Monitoring System Demand Share Forecast, 2019-2026
11. Europe Off-Site Oil Condition Monitoring System Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Application
11.4.1. Oli & Gas
11.4.2. Transportation
11.4.3. Energy
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Type
11.7.1. Hdraulic Systems
11.7.2. Engines
11.7.3. Turbines
11.7.4. Compressors
11.7.5. Gear Systems
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Off-Site Oil Condition Monitoring System Demand Share, 2019-2026
12. Asia Pacific Off-Site Oil Condition Monitoring System Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Application
12.4.1. Oli & Gas
12.4.2. Transportation
12.4.3. Energy
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Type
12.7.1. Hydraulic Systems
12.7.2. Engines
12.7.3. Turbines
12.7.4. Compressors
12.7.5. Gear Systems
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Off-Site Oil Condition Monitoring System Demand Share, 2019-2026
13. Middle East & Africa Off-Site Oil Condition Monitoring System Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Application
13.4.1. Oli & Gas
13.4.2. Transportation
13.4.3. Energy
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Off-Site Oil Condition Monitoring System Market Size and Volume Forecast by Type
13.7.1. Hydraulic Systems
13.7.2. Engines
13.7.3. Turbines
13.7.4. Compressors
13.7.5. Gear Systems
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Off-Site Oil Condition Monitoring System Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Off-Site Oil Condition Monitoring System Market: Market Share Analysis
14.2. Off-Site Oil Condition Monitoring System Distributors and Customers
14.3. Off-Site Oil Condition Monitoring System Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Intertek Group Plc.
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Castrol Limited
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. TestOil
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Spectro Analytical Instruments GmbH.
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Bureau Veritas SA
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Parker Hannifin Corporation
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. General Electric Company
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
