PUBLISHER: KBV Research | PRODUCT CODE: 1276479
PUBLISHER: KBV Research | PRODUCT CODE: 1276479
North America Oil Condition Monitoring Market Size, Share & Industry Trends Analysis Report By Product Type (Engine, Gear Systems, Turbine, Hydraulic Systems and Compressor), By Sampling Type, By End User, By Country and Growth Forecast, 2023 - 2029
The North America Oil Condition Monitoring Market would witness market growth of 7.1% CAGR during the forecast period (2023-2029).
Businesses in the commercial world are always looking for new ways to extend the life of their assets, including their machinery, as operational issues with the machine and its other components are frequently caused by coupling problems, shaft misalignment, bearing defects, and chipped gear teeth, among other things. As a result, businesses frequently rely on lubricant inspection solutions like oil condition monitoring. For instance, the industries that use oil-dependent machinery and vehicles with engines, hydraulics, gearboxes, and transformers must undergo routine health and status inspections to function at their peak effectiveness, including power, logistics, mining, and manufacturing.
Additionally, this situation becomes crucial to take into account because these industries operate in harsh and often extreme climatic conditions, such as humid mine sites and arctic natural gas processing plants, with oil conditions deteriorating over time and losing their lubrication properties, eventually leading to equipment damage. Organizations are looking to invest in dependable in-line oil analysis remedies like oil condition monitoring because conventional oil analysis techniques like laboratory testing have drawbacks like high upfront costs, delays, and sporadic malfunctions that could cost the businesses thousands of dollars per hour.
North America holds a significant demand for the oil condition monitoring market due to established industries, including transportation and logistics, oil & gas, among others. The presence of major players like General Electric, Parker-Hannifin Corporation, as well as Chevron Corporation, aids in the growth of the market. Additionally, the Federal Aviation Administration of the United States has asked the president for a budget of USD 18.5 billion for the fiscal year 2022. This budget is intended, among other things, to promote market expansion by ensuring aviation safety and facilitating new entrants into the national airspace. Over the following several years, such projects are anticipated to significantly increase the need to implement oil condition monitoring in the sector. Hence, all these developments and initiatives propel the growth of the regional oil condition monitoring market.
The US market dominated the North America Oil Condition Monitoring Market by Country in 2022; thereby, achieving a market value of $306.6 million by 2029. The Canada market is poised to grow at a CAGR of 9.6% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 8.6% during (2023 - 2029).
Based on Product Type, the market is segmented into Engine, Gear Systems, Turbine, Hydraulic Systems and Compressor. Based on Sampling Type, the market is segmented into Off-site Sampling and On-site Sampling. Based on End User, the market is segmented into Oil & Gas, Industrial, Power Generation, Transportation and Mining. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Parker Hannifin Corporation, General Electric Company, Bureau Veritas S.A., Intertek Group PLC, SGS S.A., Eaton Corporation PLC, BP p.l.c., TotalEnergies SE, Shell plc, Chevron Corporation
Scope of the Study
Market Segments covered in the Report:
By Product Type
- Engine
- Gear Systems
- Turbine
- Hydraulic Systems
- Compressor
By Sampling Type
- Off-site Sampling
- On-site Sampling
By End User
- Oil & Gas
- Industrial
- Power Generation
- Transportation
- Mining
By Country
- US
- Canada
- Mexico
- Rest of North America
Companies Profiled
- Parker Hannifin Corporation
- General Electric Company
- Bureau Veritas S.A.
- Intertek Group PLC
- SGS S.A.
- Eaton Corporation PLC
- BP p.l.c.
- TotalEnergies SE
- Shell plc
- Chevron Corporation
Unique Offerings from KBV Research
- Exhaustive coverage
- Highest number of market tables and figures
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- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Oil Condition Monitoring Market, by Product Type
- 1.4.2 North America Oil Condition Monitoring Market, by Sampling Type
- 1.4.3 North America Oil Condition Monitoring Market, by End User
- 1.4.4 North America Oil Condition Monitoring Market, by Country
- 1.5 Methodology for the research
Chapter 2. Market Overview
- 2.1 Introduction
- 2.1.1 Overview
- 2.1.1.1 Market Composition & Scenario
- 2.1.1 Overview
- 2.2 Key Factors Impacting the Market
- 2.2.1 Market Drivers
- 2.2.2 Market Restraints
Chapter 3. Strategies deployed in Oil Condition Monitoring Market
Chapter 4. North America Oil Condition Monitoring Market by Product Type
- 4.1 North America Engine Market by Country
- 4.2 North America Gear Systems Market by Country
- 4.3 North America Turbine Market by Country
- 4.4 North America Hydraulic Systems Market by Country
- 4.5 North America Compressor Market by Country
Chapter 5. North America Oil Condition Monitoring Market by Sampling Type
- 5.1 North America Off-site Sampling Market by Country
- 5.2 North America On-site Sampling Market by Country
Chapter 6. North America Oil Condition Monitoring Market by End user
- 6.1 North America Oil & Gas Market by Country
- 6.2 North America Industrial Market by Country
- 6.3 North America Power Generation Market by Country
- 6.4 North America Transportation Market by Country
- 6.5 North America Mining Market by Country
Chapter 7. North America Oil Condition Monitoring Market by Country
- 7.1 US Oil Condition Monitoring Market
- 7.1.1 US Oil Condition Monitoring Market by Product Type
- 7.1.2 US Oil Condition Monitoring Market by Sampling Type
- 7.1.3 US Oil Condition Monitoring Market by End user
- 7.2 Canada Oil Condition Monitoring Market
- 7.2.1 Canada Oil Condition Monitoring Market by Product Type
- 7.2.2 Canada Oil Condition Monitoring Market by Sampling Type
- 7.2.3 Canada Oil Condition Monitoring Market by End user
- 7.3 Mexico Oil Condition Monitoring Market
- 7.3.1 Mexico Oil Condition Monitoring Market by Product Type
- 7.3.2 Mexico Oil Condition Monitoring Market by Sampling Type
- 7.3.3 Mexico Oil Condition Monitoring Market by End user
- 7.4 Rest of North America Oil Condition Monitoring Market
- 7.4.1 Rest of North America Oil Condition Monitoring Market by Product Type
- 7.4.2 Rest of North America Oil Condition Monitoring Market by Sampling Type
- 7.4.3 Rest of North America Oil Condition Monitoring Market by End user
Chapter 8. Company Profiles
- 8.1 Parker Hannifin Corporation
- 8.1.1 Company Overview
- 8.1.2 Financial Analysis
- 8.1.3 Segmental and Regional Analysis
- 8.1.4 Research & Development Expenses
- 8.1.5 Recent strategies and developments:
- 8.1.5.1 Product Launches and Product Expansions:
- 8.1.5.2 Acquisition and Mergers:
- 8.2 General Electric Company
- 8.2.1 Company Overview
- 8.2.2 Financial Analysis
- 8.2.3 Segmental and Regional Analysis
- 8.2.4 Research & Development Expense
- 8.2.5 Recent strategies and developments:
- 8.2.5.1 Product Launches and Product Expansions:
- 8.2.5.2 Acquisition and Mergers:
- 8.2.6 SWOT Analysis
- 8.3 Bureau Veritas S.A.
- 8.3.1 Company Overview
- 8.3.2 Financial Analysis
- 8.3.3 Segmental and Regional Analysis
- 8.3.4 Research & Development Expenses
- 8.4 Intertek Group PLC
- 8.4.1 Company Overview
- 8.4.2 Financial Analysis
- 8.4.3 Segmental and Regional Analysis
- 8.4.4 Recent strategies and developments:
- 8.4.4.1 Geographical Expansions:
- 8.5 SGS S.A.
- 8.5.1 Company Overview
- 8.5.2 Financial Analysis
- 8.5.3 Segmental Analysis
- 8.5.4 Recent strategies and developments:
- 8.5.4.1 Acquisition and Mergers:
- 8.6 Eaton Corporation PLC
- 8.6.1 Company Overview
- 8.6.2 Financial Analysis
- 8.6.3 Segmental Analysis
- 8.6.4 Research & Development Expense
- 8.6.5 Recent strategies and developments:
- 8.6.5.1 Acquisition and Mergers:
- 8.6.6 Swot Analysis
- 8.7 BP p.l.c.
- 8.7.1 Company Overview
- 8.7.2 Financial Analysis
- 8.7.3 Segmental and Regional Analysis
- 8.7.4 Research & Development Expenses
- 8.8 TotalEnergies SE
- 8.8.1 Company Overview
- 8.8.2 Financial Analysis
- 8.8.3 Segmental and Regional Analysis
- 8.8.4 Research & Development Expenses
- 8.9 Shell plc
- 8.9.1 Company Overview
- 8.9.2 Financial Analysis
- 8.9.3 Segmental and Regional Analysis
- 8.9.4 Research & Development Expenses
- 8.9.5 Recent strategies and developments:
- 8.9.5.1 Product Launches and Product Expansions:
- 8.10. Chevron Corporation
- 8.10.1 Company Overview
- 8.10.2 Financial Analysis
- 8.10.3 Segmental and Regional Analysis
- 8.10.4 Research & Development Expenses
LIST OF TABLES
- TABLE 1 North America Oil Condition Monitoring Market, 2019 - 2022, USD Million
- TABLE 2 North America Oil Condition Monitoring Market, 2023 - 2029, USD Million
- TABLE 3 North America Oil Condition Monitoring Market by Product Type, 2019 - 2022, USD Million
- TABLE 4 North America Oil Condition Monitoring Market by Product Type, 2023 - 2029, USD Million
- TABLE 5 North America Engine Market by Country, 2019 - 2022, USD Million
- TABLE 6 North America Engine Market by Country, 2023 - 2029, USD Million
- TABLE 7 North America Gear Systems Market by Country, 2019 - 2022, USD Million
- TABLE 8 North America Gear Systems Market by Country, 2023 - 2029, USD Million
- TABLE 9 North America Turbine Market by Country, 2019 - 2022, USD Million
- TABLE 10 North America Turbine Market by Country, 2023 - 2029, USD Million
- TABLE 11 North America Hydraulic Systems Market by Country, 2019 - 2022, USD Million
- TABLE 12 North America Hydraulic Systems Market by Country, 2023 - 2029, USD Million
- TABLE 13 North America Compressor Market by Country, 2019 - 2022, USD Million
- TABLE 14 North America Compressor Market by Country, 2023 - 2029, USD Million
- TABLE 15 North America Oil Condition Monitoring Market by Sampling Type, 2019 - 2022, USD Million
- TABLE 16 North America Oil Condition Monitoring Market by Sampling Type, 2023 - 2029, USD Million
- TABLE 17 North America Off-site Sampling Market by Country, 2019 - 2022, USD Million
- TABLE 18 North America Off-site Sampling Market by Country, 2023 - 2029, USD Million
- TABLE 19 North America On-site Sampling Market by Country, 2019 - 2022, USD Million
- TABLE 20 North America On-site Sampling Market by Country, 2023 - 2029, USD Million
- TABLE 21 North America Oil Condition Monitoring Market by End user, 2019 - 2022, USD Million
- TABLE 22 North America Oil Condition Monitoring Market by End user, 2023 - 2029, USD Million
- TABLE 23 North America Oil & Gas Market by Country, 2019 - 2022, USD Million
- TABLE 24 North America Oil & Gas Market by Country, 2023 - 2029, USD Million
- TABLE 25 North America Industrial Market by Country, 2019 - 2022, USD Million
- TABLE 26 North America Industrial Market by Country, 2023 - 2029, USD Million
- TABLE 27 North America Power Generation Market by Country, 2019 - 2022, USD Million
- TABLE 28 North America Power Generation Market by Country, 2023 - 2029, USD Million
- TABLE 29 North America Transportation Market by Country, 2019 - 2022, USD Million
- TABLE 30 North America Transportation Market by Country, 2023 - 2029, USD Million
- TABLE 31 North America Mining Market by Country, 2019 - 2022, USD Million
- TABLE 32 North America Mining Market by Country, 2023 - 2029, USD Million
- TABLE 33 North America Oil Condition Monitoring Market by Country, 2019 - 2022, USD Million
- TABLE 34 North America Oil Condition Monitoring Market by Country, 2023 - 2029, USD Million
- TABLE 35 US Oil Condition Monitoring Market, 2019 - 2022, USD Million
- TABLE 36 US Oil Condition Monitoring Market, 2023 - 2029, USD Million
- TABLE 37 US Oil Condition Monitoring Market by Product Type, 2019 - 2022, USD Million
- TABLE 38 US Oil Condition Monitoring Market by Product Type, 2023 - 2029, USD Million
- TABLE 39 US Oil Condition Monitoring Market by Sampling Type, 2019 - 2022, USD Million
- TABLE 40 US Oil Condition Monitoring Market by Sampling Type, 2023 - 2029, USD Million
- TABLE 41 US Oil Condition Monitoring Market by End user, 2019 - 2022, USD Million
- TABLE 42 US Oil Condition Monitoring Market by End user, 2023 - 2029, USD Million
- TABLE 43 Canada Oil Condition Monitoring Market, 2019 - 2022, USD Million
- TABLE 44 Canada Oil Condition Monitoring Market, 2023 - 2029, USD Million
- TABLE 45 Canada Oil Condition Monitoring Market by Product Type, 2019 - 2022, USD Million
- TABLE 46 Canada Oil Condition Monitoring Market by Product Type, 2023 - 2029, USD Million
- TABLE 47 Canada Oil Condition Monitoring Market by Sampling Type, 2019 - 2022, USD Million
- TABLE 48 Canada Oil Condition Monitoring Market by Sampling Type, 2023 - 2029, USD Million
- TABLE 49 Canada Oil Condition Monitoring Market by End user, 2019 - 2022, USD Million
- TABLE 50 Canada Oil Condition Monitoring Market by End user, 2023 - 2029, USD Million
- TABLE 51 Mexico Oil Condition Monitoring Market, 2019 - 2022, USD Million
- TABLE 52 Mexico Oil Condition Monitoring Market, 2023 - 2029, USD Million
- TABLE 53 Mexico Oil Condition Monitoring Market by Product Type, 2019 - 2022, USD Million
- TABLE 54 Mexico Oil Condition Monitoring Market by Product Type, 2023 - 2029, USD Million
- TABLE 55 Mexico Oil Condition Monitoring Market by Sampling Type, 2019 - 2022, USD Million
- TABLE 56 Mexico Oil Condition Monitoring Market by Sampling Type, 2023 - 2029, USD Million
- TABLE 57 Mexico Oil Condition Monitoring Market by End user, 2019 - 2022, USD Million
- TABLE 58 Mexico Oil Condition Monitoring Market by End user, 2023 - 2029, USD Million
- TABLE 59 Rest of North America Oil Condition Monitoring Market, 2019 - 2022, USD Million
- TABLE 60 Rest of North America Oil Condition Monitoring Market, 2023 - 2029, USD Million
- TABLE 61 Rest of North America Oil Condition Monitoring Market by Product Type, 2019 - 2022, USD Million
- TABLE 62 Rest of North America Oil Condition Monitoring Market by Product Type, 2023 - 2029, USD Million
- TABLE 63 Rest of North America Oil Condition Monitoring Market by Sampling Type, 2019 - 2022, USD Million
- TABLE 64 Rest of North America Oil Condition Monitoring Market by Sampling Type, 2023 - 2029, USD Million
- TABLE 65 Rest of North America Oil Condition Monitoring Market by End user, 2019 - 2022, USD Million
- TABLE 66 Rest of North America Oil Condition Monitoring Market by End user, 2023 - 2029, USD Million
- TABLE 67 Key Information - Parker Hannifin Corporation
- TABLE 68 KEY INFORMATION - General Electric Company
- TABLE 69 Key Information - Bureau Veritas S.A.
- TABLE 70 Key Information - Intertek Group PLC
- TABLE 71 Key Information - SGS S.A.
- TABLE 72 key information - Eaton Corporation PLC
- TABLE 73 Key Information - BP p.l.c.
- TABLE 74 Key Information - TotalEnergies SE
- TABLE 75 Key Information - Shell plc
- TABLE 76 Key Information - Chevron Corporation
List of Figures
- FIG 1 Methodology for the research
- FIG 2 Recent strategies and developments: Parker Hannifin Corporation
- FIG 3 Recent strategies and developments: General Electric Company
- FIG 4 Swot analysis: General electric (GE) Co.
- FIG 5 SWOT Analysis: Eaton Corporation PLC
