December 6, 2018 - 7:15 AM EST
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The Global Oil Condition Monitoring Market (2017-2023) is Projected to Grow at a CAGR of 9.27% - 2018 Report - ResearchAndMarkets.com

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The "Oil Condition Monitoring Market - Forecasts from 2018 to 2023" report has been added to ResearchAndMarkets.com's offering.

The oil condition monitoring market is projected to grow at a CAGR of 9.27% over the forecast period of 2017-2023.
The demand for oil conditioning services and products is increasing on account of its ability to significantly reduce the total cost of ownership while simultaneously improving the lifespan of the commodity.
Additionally, it allows for the timely maintenance of the product, which tends to reduce the frequency of maintenance schedule as compared to the scenario when the oil condition monitoring analysis is not performed.
Moreover, with the global population projected to increase to 8.5 billion by 2030, it will drive the production and use of products that are based on hydraulic system, and thus, will supplement the growth of the market during the course of the forecast period.
The growing disposable income will increase the demand for vehicles, globally. The global cars and commercial vehicle production is estimated to increase from 77.584 thousand in 2010 to 113.290 thousand in 2023 (source: International Organization of Motor Vehicle Manufacturers).
The growing production will drive the automotive oil condition monitoring market. Similarly, the growing oil exploration activities will further continue to positively impact the global market.
Geographically, Asia Pacific is estimated to hold a significant share in the market on account of the growing industrial and automotive industry.
Similarly, North America is estimated to grow rapidly during the forecast period as result of growing oil exploration activities in the region.
Simultaneously, the cost pressure in the Europe on account of stiffening economic environment is anticipated to push the growth of the oil conditioning monitoring market in Europe.

Key Topics Covered

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics

5. Oil Condition Monitoring Market by Type

6. Oil Condition Monitoring Market by Application

7. Oil Condition Monitoring Market by Industry Vertical

8. Oil Condition Monitoring Market by Geography

9. Competitive Intelligence

10. Company Profiles

  • Bureau Veritas
  • Castrol Limited
  • Shell
  • SGS SA
  • Parker Hannifin Corporation
  • Poseidon Systems
  • Intertek Group PLC
  • SPM Marine & Offshore B.V.
  • Eurofins Scientific
  • Tan Delta Systems Limited

For more information about this report visit https://www.researchandmarkets.com/research/mjkp9w/the_global_oil?w=4

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Related Topics: Oil, Industrial Automation


Source: Business Wire (December 6, 2018 - 7:15 AM EST)

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