According to the research report titled ‘Global Oil Condition Monitoring Market 2022-2028’, available with MarketStudyReport, global oil condition monitoring market is estimated to surpass the valuation of USD 192 million by the end of study period, registering a CAGR of 6.1% through 2028.

The crucial factors backing the expansion of worldwide oil condition monitoring industry are focus on cost-effective machinery maintenance solutions, enhanced awareness about monitoring of oil condition across different industrial sectors, increased emphasis on minimizing operational costs, and widespread utilization of technologies IIoT and Big Data analytics.

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Moreover, burgeoning demand for electricity, efforts for improving cost-effectiveness, in consort with focus on maintaining machinery health will stimulate the industry outlook.

Notably, oil condition monitoring (OCM) is elemental for predictive maintenance schedule. It helps in detecting the consistency and quality of lubricants and fuels in a machine, thus enabling smooth & efficient operations.

Based on sampling type, worldwide oil condition monitoring industry is classified into on-site and off-site. While the various end-users are transportation, oil & gas, mining, industrial, energy & power generation, and others.

Moving on to regional scope, the report divulges the recent trends across Europe, Asia Pacific, and North America among others. This information will enable the reader and stakeholders to make informed decisions about new ventures and profitable
investment opportunities.

The report also states detailed information on top-notch organizations in the global oil condition monitoring marketplace, containing names like Tan Delta Systems Ltd., SGS S.A., Poseidon Systems LLC, Micromem Applied Sensor Technology Inc. (MAST), HYDAC Technology Corporation, Eaton Corporation plc, CM Technologies GmbH, Bureau Veritas S.A., Bosch Rexroth AG, SPECTRO Analytical Instruments GmbH, Royal Dutch Shell plc, Parker Hannifin Corporation, Intertek Group plc, Gill Sensors & Controls, Des-Case Corporation, Chevron Corporation, BP plc, and Avenisense S.A. (WIKA TECK).