Market Research Report
Oil Condition Monitoring
|Published by||Global Industry Analysts, Inc.||Product code||957111|
|Published||Content info||238 Pages
Delivery time: 1-2 business days
|Oil Condition Monitoring|
|Published: September 1, 2020||Content info: 238 Pages||
Global Oil Condition Monitoring Market to Reach US$943.7 Million by the Year 2027
Amid the COVID-19 crisis, the global market for Oil Condition Monitoring estimated at US$580.6 Million in the year 2020, is projected to reach a revised size of US$943.7 Million by 2027, growing at a CAGR of 7.2% over the period 2020-2027.On-Site, one of the segments analyzed in the report, is projected to grow at a 8.4% CAGR to reach US$393.6 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Off-Site segment is readjusted to a revised 6.4% CAGR for the next 7-year period. This segment currently accounts for a 61.5% share of the global Oil Condition Monitoring market.
The U.S. Accounts for Over 29.6% of Global Market Size in 2020, While China is Forecast to Grow at a 7% CAGR for the Period of 2020-2027
The Oil Condition Monitoring market in the U.S. is estimated at US$171.7 Million in the year 2020. The country currently accounts for a 29.57% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$164.1 Million in the year 2027 trailing a CAGR of 6.7% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.1% and 6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 6.1% CAGR while Rest of European market (as defined in the study) will reach US$164.1 Million by the year 2027.We bring years of research experience to this 7th edition of our report. The 238-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others,