The Global Oil Condition Monitoring Market (2017-2023) is Projected to Grow at a CAGR of 9.27% - 2018 Report - ResearchAndMarkets.com
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
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Bureau Veritas
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Castrol Limited
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Shell
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SGS SA
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Parker Hannifin Corporation
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Poseidon Systems
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Intertek Group PLC
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SPM Marine & Offshore B.V.
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Eurofins Scientific
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Tan Delta Systems Limited
For more information about this report visit https://www.researchandmarkets.com/research/mjkp9w/the_global_oil?w=4
View source version on businesswire.com: https://www.businesswire.com/news/home/20181206005401/en/
Copyright Business Wire 2018
Source: Business Wire
(December 6, 2018 - 7:15 AM EST)
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