Oil Condition Monitoring performed to determine the degree of engine lubricant degradation. It is based on a systematic determination of the status of all drive technologies and automation. Oil condition monitoring consists of a programmable controller, data line, liquid crystal display, oil return port, hydraulic oil tank, oil suction port, oil level sensor, oil temperature sensor, and shielded cable. These monitoring systems is continuously monitoring characteristic engine and drive parameters such as drive distance, speed, and oil temperature. It can identify mechanical problems before they impact the efficient running of machinery, avoiding costly headaches later on. It also helps reduce unplanned downtime, increases the lifespan of equipment, and safely extends oil change intervals, which is an expensive task.
Global Oil Condition Monitoring Market estimated to grow with a significant rate during the forecast period, 2020-2027. The growing demand for time optimization and reduction in maintenance costs are majors factors expected to propel the global oil condition monitoring market in the future time. Additionally, the application of oil condition monitoring, such as avoid machine failure by the utilization of machine operation and failure analysis program, will fuel the growth of the oil condition monitoring market in the next few years.
Moreover, the increasing application of oil condition monitoring in vehicles for identifying small problems within machinery components before they become catastrophic failures will expand the global oil condition monitoring market size in the estimated period. Further, the surge in need for oil condition monitoring for providing actual conditions of oil used inside gearboxes, compressors, hydraulic systems, and engines will propel the oil condition monitoring industry worldwide. Oil condition monitoring is capable of detecting any change in viscosity of the process stream in real-time, and these real-time oil condition monitoring can increase productivity and increase the profitability of companies.
Furthermore, augmentation in demand for oil condition monitoring to check the condition of properties of lubricating oil in machines and equipment will expand the market growth in the projected period.
Oil condition monitoring help avoid costly machinery, engine, and power-train failures by tracking changes in machinery lubricant quality. It is measuring, interpreting, and visualizing predetermined parameters and then forwarding them to the maintenance system. It aids plant engineers and maintenance managers in real-time continuously monitored testing and analysis data for critical plant and equipment.
The Industrial Internet of Things (IIoT) and Industry 4.0 revolution help the energy, automotive, and other industries to online real-time oil monitoring. It aids in economic advantage, faster response time, real-time condition of the physical properties of lubricants. It provides real-time data of oil aging and preventing initial mechanical failures due to reduced oil lubrication performance.
Based on the sampling type, the global Oil Condition Monitoring market bifurcated into On-site and Off-site. The On-site segment accounted for a significant share in 2019 as it is helpful in reduce servicing and maintenance costs, increase equipment productivity, minimize oil waste and disposal, and reduce downtime.
The Off-site segment will influence by its benefits, such as operates 24/7 for faster lubricant treatment turnaround.
Based on product type, the global Oil Condition Monitoring market classified into Turbines, Compressors, Engines, Gear Systems, and Hydraulic Systems. The Turbines segment predicted to gain significant revenue in the market by 2027, owing to the turbines used in the industries operate under very high pressure which need scheduled check-ups for efficient operations.
The Engines segment will promulgate by the real-time monitoring of engine oil, which is helpful for the automotive industry and the oil & gas industry.
Based on measurement type, the global Oil Condition Monitoring market classified into Temperature, Pressure, Density, Viscosity, Dielectric, TAN, TBN, Water dilution, Fuel dilution, Soot, and Wear particles. The viscosity segment estimated to lead the market by 2027 attributable to one of the most important parameters for the lubricating performance of engine oils.
The temperature segment will grow by benefits of oil condition monitoring, which early detects the changes in oil and lubricant conditions provide greater insight into the actual condition of vital machinery and equipment.
Based on the end-user industry, the global Oil Condition Monitoring market categorized into Transportation, Oil & Gas, Power Generation, Industrial, and Mining. Transportation segment expected to dominate the market by 2027 as it includes automobiles, aerospace, marine, heavy vehicles, and locomotive engines for which oil condition monitoring helps to manage vehicle component wear and failure better.
The Oil & Gas industry will grow by oil condition monitoring helpful in real-time monitoring of engine and machinery performance.
Based on geography, the global Oil Condition Monitoring market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America estimated to occupy the lion’s market share by 2027. It is due to the growing demand for oil condition monitoring in Transportation, Oil & Gas, Power Generation, Industrial, and Mining industry for better machinery and engine performance coupled with the presence of major players in these regions.
The Asia Pacific will drive by the rapid industrialization in these regions, which demand oil condition monitoring services for the smooth running of machinery equipment.
Companies such as Parker Hannifin, Chevron, General Electric, Shell, Bureau Veritas, BP, Eato, Intertek Group, SGS, Total, Eaton, Exxon Mobil Corporation, and Veritas Petroleum Services are the key players in the Global Oil Condition Monitoring Market.
By Sampling Type
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