Global Oil Condition Monitoring Market
Oil Condition Monitoring Market Size And Forecast
Oil Condition Monitoring Market was valued at USD 613.37 million in 2019 and is projected to reach USD 1189.56 million by 2027, growing at a CAGR of 9.31% from 2020 to 2027.
Global Oil Condition Monitoring Market Overview
With the growing advancement in technology, the need for oil condition monitoring is growing. The oil condition monitoring systems can be widely used in Oil & Gas, Energy & Power, Metals & Mining, Chemicals, Aerospace & Defense and various types of industries. However, its use in oil & gas is growing as oil and gas operations, including offshore, petrochemical, refineries and chemical, top the list of extreme operating environments. The work conditions in the industry are hazardous. Thus, detecting and preventing unexpected oil and gas machinery and component problems is necessary and the use of oil condition monitoring can help to overcome it. This factor fueled the market.
Global Oil Condition Monitoring Market Segment Analysis
The Oil Condition Monitoring market is segmented on the basis of Sampling Type, Product Type, Measurement Type, Industry and Geography.
Global Oil Condition Monitoring Market, Competitive Landscape
The Global Oil Condition Monitoring market is highly fragmented with the presence of a large number of manufacturers globally. Some of the major players include Emerson, National Instruments, Rockwell Automation, Inc., General Electric, Intertek Group Plc, Parker Hannifin Manufacturing Ltd, Honeywell International Inc., Test Oil (Insight Services Inc.), Analog Devices Inc., Unimarine, Polaris, ALS, SGS, Tribologik, Fluid life, AVENISENSE S.A.S., Poseidon Systems, Micromem Applied Sensor Technologies Inc., Delta Services Industriels (DSi). National Instruments
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