Global Oil Condition Monitoring Market Growth (Status and Outlook) 2023-2029

Oil analysis provides a detailed view of what is happening within machine components during operation. For decades, oil analysis has helped diagnose the internal conditions of oil-wetted components and their lubricants in virtually every industry that involves heavy duty machinery or stationary industrial equipment. Any company that operates equipment using oil, fuel or coolant can realize substantial returns from a minimal investment in this type of testing. While early oil analysis test methods were shockingly simple, present-day processes employ the most advanced analytical tools and technologies. Commercial oil analysis uses a combination of physical and chemical tests to monitor lubricant and component conditions – much like what we learn when testing blood samples from people. Oil condition monitoring (OCM) testing predictive maintenance programs help clients avoid costly machinery, engine and power-train failures.

LPI (LP Information)' newest research report, the “Oil Condition Monitoring Industry Forecast” looks at past sales and reviews total world Oil Condition Monitoring sales in 2022, providing a comprehensive analysis by region and market sector of projected Oil Condition Monitoring sales for 2023 through 2029. With Oil Condition Monitoring sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Oil Condition Monitoring industry.

This Insight Report provides a comprehensive analysis of the global Oil Condition Monitoring landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Oil Condition Monitoring portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Oil Condition Monitoring market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Oil Condition Monitoring and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Oil Condition Monitoring.

The global Oil Condition Monitoring market size is projected to grow from US$ 662.3 million in 2022 to US$ 1270.3 million in 2029; it is expected to grow at a CAGR of 9.8% from 2023 to 2029.

Global Oil Condition Monitoring key players include Bureau Veritas, SGS, Intertek Group, Shell, Chevron Corporation, etc. Global top five manufacturers hold a share about 70%. Europe is the largest market, with a share about 40%, followed by North America, with a share about 30 percent. In terms of product, Off-site is the largest segment, with a share about 75%. And in terms of application, the largest application is Oil & Gas, followed by Transportation, Industrial, Energy & Power, Mining, etc.

This report presents a comprehensive overview, market shares, and growth opportunities of Oil Condition Monitoring market by product type, application, key players and key regions and countries.

Market Segmentation:
Segmentation by type
    On-Site
    Off-Site

Segmentation by application
    Transportation
    Industrial
    Oil & Gas
    Energy & Power
    Mining

This report also splits the market by region:
    Americas
        United States
        Canada
        Mexico
        Brazil
    APAC
        China
        Japan
        Korea
        Southeast Asia
        India
        Australia
    Europe
        Germany
        France
        UK
        Italy
        Russia
    Middle East & Africa
        Egypt
        South Africa
        Israel
        Turkey
        GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
    Bureau Veritas
    SGS
    Intertek
    Shell
    Chevron
    Castrol
    Unimarine
    Veritas Petroleum Services
    Insight Services Inc

List of Tables
    Table 1. Oil Condition Monitoring Market Size CAGR by Region (2018 VS 2022 VS 2029) & ($ Millions)
    Table 2. Major Players of On-Site
    Table 3. Major Players of Off-Site
    Table 4. Oil Condition Monitoring Market Size CAGR by Type (2018 VS 2022 VS 2029) & ($ Millions)
    Table 5. Global Oil Condition Monitoring Market Size by Type (2018-2023) & ($ Millions)
    Table 6. Global Oil Condition Monitoring Market Size Market Share by Type (2018-2023)
    Table 7. Oil Condition Monitoring Market Size CAGR by Application (2018 VS 2022 VS 2029) & ($ Millions)
    Table 8. Global Oil Condition Monitoring Market Size by Application (2018-2023) & ($ Millions)
    Table 9. Global Oil Condition Monitoring Market Size Market Share by Application (2018-2023)
    Table 10. Global Oil Condition Monitoring Revenue by Players (2018-2023) & ($ Millions)
    Table 11. Global Oil Condition Monitoring Revenue Market Share by Player (2018-2023)
    Table 12. Oil Condition Monitoring Key Players Head office and Products Offered
    Table 13. Oil Condition Monitoring Concentration Ratio (CR3, CR5 and CR10) & (2021-2023)
    Table 14. New Products and Potential Entrants
    Table 15. Mergers & Acquisitions, Expansion
    Table 16. Global Oil Condition Monitoring Market Size by Regions 2018-2023 & ($ Millions)
    Table 17. Global Oil Condition Monitoring Market Size Market Share by Regions (2018-2023)
    Table 18. Global Oil Condition Monitoring Revenue by Country/Region (2018-2023) & ($ millions)
    Table 19. Global Oil Condition Monitoring Revenue Market Share by Country/Region (2018-2023)
    Table 20. Americas Oil Condition Monitoring Market Size by Country (2018-2023) & ($ Millions)
    Table 21. Americas Oil Condition Monitoring Market Size Market Share by Country (2018-2023)
    Table 22. Americas Oil Condition Monitoring Market Size by Type (2018-2023) & ($ Millions)
    Table 23. Americas Oil Condition Monitoring Market Size Market Share by Type (2018-2023)
    Table 24. Americas Oil Condition Monitoring Market Size by Application (2018-2023) & ($ Millions)
    Table 25. Americas Oil Condition Monitoring Market Size Market Share by Application (2018-2023)
    Table 26. APAC Oil Condition Monitoring Market Size by Region (2018-2023) & ($ Millions)
    Table 27. APAC Oil Condition Monitoring Market Size Market Share by Region (2018-2023)
    Table 28. APAC Oil Condition Monitoring Market Size by Type (2018-2023) & ($ Millions)
    Table 29. APAC Oil Condition Monitoring Market Size Market Share by Type (2018-2023)
    Table 30. APAC Oil Condition Monitoring Market Size by Application (2018-2023) & ($ Millions)
    Table 31. APAC Oil Condition Monitoring Market Size Market Share by Application (2018-2023)
    Table 32. Europe Oil Condition Monitoring Market Size by Country (2018-2023) & ($ Millions)
    Table 33. Europe Oil Condition Monitoring Market Size Market Share by Country (2018-2023)
    Table 34. Europe Oil Condition Monitoring Market Size by Type (2018-2023) & ($ Millions)
    Table 35. Europe Oil Condition Monitoring Market Size Market Share by Type (2018-2023)
    Table 36. Europe Oil Condition Monitoring Market Size by Application (2018-2023) & ($ Millions)
    Table 37. Europe Oil Condition Monitoring Market Size Market Share by Application (2018-2023)
    Table 38. Middle East & Africa Oil Condition Monitoring Market Size by Region (2018-2023) & ($ Millions)
    Table 39. Middle East & Africa Oil Condition Monitoring Market Size Market Share by Region (2018-2023)
    Table 40. Middle East & Africa Oil Condition Monitoring Market Size by Type (2018-2023) & ($ Millions)
    Table 41. Middle East & Africa Oil Condition Monitoring Market Size Market Share by Type (2018-2023)
    Table 42. Middle East & Africa Oil Condition Monitoring Market Size by Application (2018-2023) & ($ Millions)
    Table 43. Middle East & Africa Oil Condition Monitoring Market Size Market Share by Application (2018-2023)
    Table 44. Key Market Drivers & Growth Opportunities of Oil Condition Monitoring
    Table 45. Key Market Challenges & Risks of Oil Condition Monitoring
    Table 46. Key Industry Trends of Oil Condition Monitoring
    Table 47. Global Oil Condition Monitoring Market Size Forecast by Regions (2024-2029) & ($ Millions)
    Table 48. Global Oil Condition Monitoring Market Size Market Share Forecast by Regions (2024-2029)
    Table 49. Global Oil Condition Monitoring Market Size Forecast by Type (2024-2029) & ($ Millions)
    Table 50. Global Oil Condition Monitoring Market Size Forecast by Application (2024-2029) & ($ Millions)
    Table 51. Bureau Veritas Details, Company Type, Oil Condition Monitoring Area Served and Its Competitors
    Table 52. Bureau Veritas Oil Condition Monitoring Product Offered
    Table 53. Bureau Veritas Oil Condition Monitoring Revenue ($ million), Gross Margin and Market Share (2018-2023)
    Table 54. Bureau Veritas Main Business
    Table 55. Bureau Veritas Latest Developments
    Table 56. SGS Details, Company Type, Oil Condition Monitoring Area Served and Its Competitors
    Table 57. SGS Oil Condition Monitoring Product Offered
    Table 58. SGS Main Business
    Table 59. SGS Oil Condition Monitoring Revenue ($ million), Gross Margin and Market Share (2018-2023)
    Table 60. SGS Latest Developments
    Table 61. Intertek Details, Company Type, Oil Condition Monitoring Area Served and Its Competitors
    Table 62. Intertek Oil Condition Monitoring Product Offered
    Table 63. Intertek Main Business
    Table 64. Intertek Oil Condition Monitoring Revenue ($ million), Gross Margin and Market Share (2018-2023)
    Table 65. Intertek Latest Developments
    Table 66. Shell Details, Company Type, Oil Condition Monitoring Area Served and Its Competitors
    Table 67. Shell Oil Condition Monitoring Product Offered
    Table 68. Shell Main Business
    Table 69. Shell Oil Condition Monitoring Revenue ($ million), Gross Margin and Market Share (2018-2023)
    Table 70. Shell Latest Developments
    Table 71. Chevron Details, Company Type, Oil Condition Monitoring Area Served and Its Competitors
    Table 72. Chevron Oil Condition Monitoring Product Offered
    Table 73. Chevron Main Business
    Table 74. Chevron Oil Condition Monitoring Revenue ($ million), Gross Margin and Market Share (2018-2023)
    Table 75. Chevron Latest Developments
    Table 76. Castrol Details, Company Type, Oil Condition Monitoring Area Served and Its Competitors
    Table 77. Castrol Oil Condition Monitoring Product Offered
    Table 78. Castrol Main Business
    Table 79. Castrol Oil Condition Monitoring Revenue ($ million), Gross Margin and Market Share (2018-2023)
    Table 80. Castrol Latest Developments
    Table 81. Unimarine Details, Company Type, Oil Condition Monitoring Area Served and Its Competitors
    Table 82. Unimarine Oil Condition Monitoring Product Offered
    Table 83. Unimarine Main Business
    Table 84. Unimarine Oil Condition Monitoring Revenue ($ million), Gross Margin and Market Share (2018-2023)
    Table 85. Unimarine Latest Developments
    Table 86. Veritas Petroleum Services Details, Company Type, Oil Condition Monitoring Area Served and Its Competitors
    Table 87. Veritas Petroleum Services Oil Condition Monitoring Product Offered
    Table 88. Veritas Petroleum Services Main Business
    Table 89. Veritas Petroleum Services Oil Condition Monitoring Revenue ($ million), Gross Margin and Market Share (2018-2023)
    Table 90. Veritas Petroleum Services Latest Developments
    Table 91. Insight Services Inc Details, Company Type, Oil Condition Monitoring Area Served and Its Competitors
    Table 92. Insight Services Inc Oil Condition Monitoring Product Offered
    Table 93. Insight Services Inc Main Business
    Table 94. Insight Services Inc Oil Condition Monitoring Revenue ($ million), Gross Margin and Market Share (2018-2023)
    Table 95. Insight Services Inc Latest Developments
List of Figures
    Figure 1. Oil Condition Monitoring Report Years Considered
    Figure 2. Research Objectives
    Figure 3. Research Methodology
    Figure 4. Research Process and Data Source
    Figure 5. Global Oil Condition Monitoring Market Size Growth Rate 2018-2029 ($ Millions)
    Figure 6. Oil Condition Monitoring Sales by Geographic Region (2018, 2022 & 2029) & ($ millions)
    Figure 7. Oil Condition Monitoring Sales Market Share by Country/Region (2022)
    Figure 8. Oil Condition Monitoring Sales Market Share by Country/Region (2018, 2022 & 2029)
    Figure 9. Global Oil Condition Monitoring Market Size Market Share by Type in 2022
    Figure 10. Oil Condition Monitoring in Transportation
    Figure 11. Global Oil Condition Monitoring Market: Transportation (2018-2023) & ($ Millions)
    Figure 12. Oil Condition Monitoring in Industrial
    Figure 13. Global Oil Condition Monitoring Market: Industrial (2018-2023) & ($ Millions)
    Figure 14. Oil Condition Monitoring in Oil & Gas
    Figure 15. Global Oil Condition Monitoring Market: Oil & Gas (2018-2023) & ($ Millions)
    Figure 16. Oil Condition Monitoring in Energy & Power
    Figure 17. Global Oil Condition Monitoring Market: Energy & Power (2018-2023) & ($ Millions)
    Figure 18. Oil Condition Monitoring in Mining
    Figure 19. Global Oil Condition Monitoring Market: Mining (2018-2023) & ($ Millions)
    Figure 20. Global Oil Condition Monitoring Market Size Market Share by Application in 2022
    Figure 21. Global Oil Condition Monitoring Revenue Market Share by Player in 2022
    Figure 22. Global Oil Condition Monitoring Market Size Market Share by Regions (2018-2023)
    Figure 23. Americas Oil Condition Monitoring Market Size 2018-2023 ($ Millions)
    Figure 24. APAC Oil Condition Monitoring Market Size 2018-2023 ($ Millions)
    Figure 25. Europe Oil Condition Monitoring Market Size 2018-2023 ($ Millions)
    Figure 26. Middle East & Africa Oil Condition Monitoring Market Size 2018-2023 ($ Millions)
    Figure 27. Americas Oil Condition Monitoring Value Market Share by Country in 2022
    Figure 28. United States Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 29. Canada Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 30. Mexico Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 31. Brazil Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 32. APAC Oil Condition Monitoring Market Size Market Share by Region in 2022
    Figure 33. APAC Oil Condition Monitoring Market Size Market Share by Type in 2022
    Figure 34. APAC Oil Condition Monitoring Market Size Market Share by Application in 2022
    Figure 35. China Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 36. Japan Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 37. Korea Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 38. Southeast Asia Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 39. India Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 40. Australia Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 41. Europe Oil Condition Monitoring Market Size Market Share by Country in 2022
    Figure 42. Europe Oil Condition Monitoring Market Size Market Share by Type (2018-2023)
    Figure 43. Europe Oil Condition Monitoring Market Size Market Share by Application (2018-2023)
    Figure 44. Germany Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 45. France Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 46. UK Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 47. Italy Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 48. Russia Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 49. Middle East & Africa Oil Condition Monitoring Market Size Market Share by Region (2018-2023)
    Figure 50. Middle East & Africa Oil Condition Monitoring Market Size Market Share by Type (2018-2023)
    Figure 51. Middle East & Africa Oil Condition Monitoring Market Size Market Share by Application (2018-2023)
    Figure 52. Egypt Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 53. South Africa Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 54. Israel Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 55. Turkey Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 56. GCC Country Oil Condition Monitoring Market Size Growth 2018-2023 ($ Millions)
    Figure 57. Americas Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 58. APAC Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 59. Europe Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 60. Middle East & Africa Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 61. United States Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 62. Canada Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 63. Mexico Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 64. Brazil Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 65. China Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 66. Japan Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 67. Korea Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 68. Southeast Asia Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 69. India Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 70. Australia Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 71. Germany Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 72. France Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 73. UK Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 74. Italy Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 75. Russia Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 76. Spain Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 77. Egypt Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 78. South Africa Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 79. Israel Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 80. Turkey Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 81. GCC Countries Oil Condition Monitoring Market Size 2024-2029 ($ Millions)
    Figure 82. Global Oil Condition Monitoring Market Size Market Share Forecast by Type (2024-2029)
    Figure 83. Global Oil Condition Monitoring Market Size Market Share Forecast by Application (2024-2029)

Bureau Veritas
SGS
Intertek
Shell
Chevron
Castrol
Unimarine
Veritas Petroleum Services
Insight Services Inc

LP Information presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

• Primary Source
  Players/Suppliers
  Industry Experts
  Distributors/Traders
  Opinion Leaders
  Front-line Staff
  Marketing Executives

  Secondary Source
  Journals and Periodicals
  Government Bodies
  Annual Reports
  Presentations
  Paid Databases
  LPI Internal Repository

• Data Synthesis
  Information Gathering
  Collation of Data
  Estimation of Key Figures
  Analysis of Derived Insights

  Data Validation
  Triangulation with Data Models
  Reference Against Proprietary
  Databases
  Corroboration with Industry Experts

• Qualitative Analysis
  Market drivers
  Market challenges
  Market trends
  Five forces analysis

  Qualitative Analysis
  Market size and forecast
  Market segmentation
  Geographical insights
  Competitive landscape