Market Overview:
The global oil condition monitoring 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 condition monitoring services from various end-use industries, such as transportation, industrial, oil & gas, energy & power and mining. In addition, the growing awareness about the benefits of using oil condition monitoring services is also contributing to the growth of this market.
Product Definition:
Oil Condition Monitoring is the process of regularly testing and inspecting oil to determine its quality and ability to protect machinery. The importance of Oil Condition Monitoring is that it helps ensure that machines run smoothly, prevent breakdowns, and extend the life of the oil.
On-site:
On-site OCM is a technique where the sample is taken from the wellbore and analyzed on site. This eliminates transportation costs, reduces time & improves accuracy of results. It also minimizes potential for errors such as mislabeling or contamination by eliminating reliance on off-site analysis.
Off-site:
Off-site is a remote system used to collect real-time data from oil field equipment and sensors. It provides information on the performance of drilling, production, well testing and other related activities. The data is collected by sending commands to the surface systems which are then responded with real-time values.
Application Insights:
The transportation segment dominated the global oil condition monitoring market in 2017 and is expected to witness significant growth over the forecast period. The growth can be attributed to rising demand for fuel across various regions, including Asia Pacific, North America, and Europe. Furthermore, technological advancements in drilling equipment are likely to result in an increase of around 60% of offshore wells by 2030 as compared with onshore wells. This factor is anticipated to drive the product demand over the forecast period.
The industrial segment accounted for a significant share of 21% in 2017 owing to growing utilization of process oils such as lubricating greases (LSLs), metal working fluids (MWFs), brake fluids & transmission fluids among others at manufacturing facilities and petrochemical plants worldwide.
Regional Analysis:
The market in North America was valued at USD X billion in 2017 and is expected to witness growth over the forecast period owing to the presence of major oil & gas, industrial, and energy & power sectors. The U.S., being a major oil producer as well as consumer, has a vital role to play in influencing global oil production levels through its domestic policies.
In addition, technological advancements such as enhanced Oil Recovery (EOR), hydraulic fracturing (fracking), horizontal drilling are anticipated to have an impact on market dynamics over the coming years by increasing crude oil production from existing fields worldwide including those of North America thereby driving OCM market growth across this region.
Asia Pacific accounted for 21% of total revenue share in 2017 owing to growing demand for enhanced Oil Recovery services from countries such as China.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization
- Rising concerns over energy security and the need to reduce emissions
- Proliferation of new oil production technologies, such as fracking
- Stringent environmental regulations that incentivize the use of condition monitoring systems
- Growing demand from emerging markets, such as China and India
Scope Of The Report
Report Attributes
Report Details
Report Title
Oil Condition Monitoring Market Research Report
By Type
On-site, Off-site
By Application
Transportation, Industrial, Oil & Gas, Energy & Power, Mining
By Companies
Bureau Veritas, SGS, Intertek, Shell, Chevron, Castrol, Unimarine, Veritas Petroleum Services, Insight Services Inc
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
234
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Oil Condition Monitoring Market Report Segments:
The global Oil Condition Monitoring market is segmented on the basis of:
Types
On-site, Off-site
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
Transportation, Industrial, Oil & Gas, Energy & Power, Mining
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:
- Bureau Veritas
- SGS
- Intertek
- Shell
- Chevron
- Castrol
- Unimarine
- Veritas Petroleum Services
- Insight Services Inc
Highlights of The Oil Condition Monitoring 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:
- On-site
- Off-site
- By Application:
- Transportation
- Industrial
- Oil & Gas
- Energy & Power
- Mining
- 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 Oil Condition Monitoring 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?
Oil condition monitoring is a process that helps operators and maintenance personnel to identify potential problems with an oil system. This information can help them to make informed decisions about how to maintain the system, and it can also help them to determine when it is necessary to replace parts of the oil system.
Some of the key players operating in the oil condition monitoring market are Bureau Veritas, SGS, Intertek, Shell, Chevron, Castrol, Unimarine, Veritas Petroleum Services, Insight Services Inc.
The oil condition monitoring 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. Oil Condition Monitoring 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. Oil Condition Monitoring Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Oil Condition Monitoring Market - Supply Chain
4.5. Global Oil Condition Monitoring Market Forecast
4.5.1. Oil Condition Monitoring Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Oil Condition Monitoring Market Size (000 Units) and Y-o-Y Growth
4.5.3. Oil Condition Monitoring Market Absolute $ Opportunity
5. Global Oil Condition Monitoring 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. Oil Condition Monitoring Market Size and Volume Forecast by Type
5.3.1. On-site
5.3.2. Off-site
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Oil Condition Monitoring 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. Oil Condition Monitoring Market Size and Volume Forecast by Application
6.3.1. Transportation
6.3.2. Industrial
6.3.3. Oil & Gas
6.3.4. Energy & Power
6.3.5. Mining
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Oil Condition Monitoring 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. Oil Condition Monitoring 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 Oil Condition Monitoring 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. Oil Condition Monitoring 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 Oil Condition Monitoring Demand Share Forecast, 2019-2026
9. North America Oil Condition Monitoring 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 Oil Condition Monitoring 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 Oil Condition Monitoring Market Size and Volume Forecast by Application
9.4.1. Transportation
9.4.2. Industrial
9.4.3. Oil & Gas
9.4.4. Energy & Power
9.4.5. Mining
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Oil Condition Monitoring Market Size and Volume Forecast by Type
9.7.1. On-site
9.7.2. Off-site
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 Oil Condition Monitoring Demand Share Forecast, 2019-2026
10. Latin America Oil Condition Monitoring 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 Oil Condition Monitoring 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 Oil Condition Monitoring Market Size and Volume Forecast by Application
10.4.1. Transportation
10.4.2. Industrial
10.4.3. Oil & Gas
10.4.4. Energy & Power
10.4.5. Mining
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Oil Condition Monitoring Market Size and Volume Forecast by Type
10.7.1. On-site
10.7.2. Off-site
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 Oil Condition Monitoring Demand Share Forecast, 2019-2026
11. Europe Oil Condition Monitoring 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 Oil Condition Monitoring 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 Oil Condition Monitoring Market Size and Volume Forecast by Application
11.4.1. Transportation
11.4.2. Industrial
11.4.3. Oil & Gas
11.4.4. Energy & Power
11.4.5. Mining
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Oil Condition Monitoring Market Size and Volume Forecast by Type
11.7.1. On-site
11.7.2. Off-site
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 Oil Condition Monitoring Demand Share, 2019-2026
12. Asia Pacific Oil Condition Monitoring 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 Oil Condition Monitoring 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 Oil Condition Monitoring Market Size and Volume Forecast by Application
12.4.1. Transportation
12.4.2. Industrial
12.4.3. Oil & Gas
12.4.4. Energy & Power
12.4.5. Mining
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Oil Condition Monitoring Market Size and Volume Forecast by Type
12.7.1. On-site
12.7.2. Off-site
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 Oil Condition Monitoring Demand Share, 2019-2026
13. Middle East & Africa Oil Condition Monitoring 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 Oil Condition Monitoring 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 Oil Condition Monitoring Market Size and Volume Forecast by Application
13.4.1. Transportation
13.4.2. Industrial
13.4.3. Oil & Gas
13.4.4. Energy & Power
13.4.5. Mining
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Oil Condition Monitoring Market Size and Volume Forecast by Type
13.7.1. On-site
13.7.2. Off-site
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 Oil Condition Monitoring Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Oil Condition Monitoring Market: Market Share Analysis
14.2. Oil Condition Monitoring Distributors and Customers
14.3. Oil Condition Monitoring Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Bureau Veritas
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. SGS
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Intertek
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Shell
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Chevron
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Castrol
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Unimarine
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Veritas Petroleum Services
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Insight Services Inc
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
