Oil Condition Monitoring Global Market Report 2025

Oil Condition Monitoring (OCM) stands as a predictive maintenance program designed to prevent costly breakdowns in machinery, engines, and power-trains. By tracking variations in lubricant quality within the machinery, this program detects changes that could signify potential failures. It revolves around gauging crucial equipment parameters like temperature and oil condition to anticipate and prevent future breakdowns.

The core products of oil condition monitoring encompass turbines, compressors, engines, gear systems, and hydraulic systems. Turbines are rotary engines powered by either the force of a fluid or a combination of impulses from sources like water, steam, or air under pressure. Sampling for OCM can occur either on-site or off-site. These monitoring solutions find application across various industries including transportation, oil, gas, mining, energy, and power sectors.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sharp rise in U.S. tariffs and ensuing trade tensions in spring 2025 are heavily impacting the oil and gas industry, especially in areas such as exploration equipment, pipeline development, and refining operations. Increased import duties on drilling rigs, steel pipes, and specialized machinery have significantly raised capital expenditures across both upstream and downstream segments. Midstream players are grappling with cost surges for essential components like valves, compressors, and storage tanks, causing delays and disruptions in expansion projects. Refiners, meanwhile, are contending with higher expenses for imported catalysts and control systems critical to operational efficiency. In addition, retaliatory tariffs from major trade partners have curtailed U.S. exports of liquefied natural gas (LNG) and crude oil, reducing global competitiveness. In response, companies are ramping up investments in domestic manufacturing alliances, digital asset management tools, and diversified energy portfolios to maintain resilience and protect profitability.

The oil condition monitoring market research report is one of a series of new reports from The Business Research Company that provides oil condition monitoring market statistics, including oil condition monitoring industry global market size, regional shares, competitors with an oil condition monitoring market share, detailed oil condition monitoring market segments, market trends and opportunities, and any further data you may need to thrive in the oil condition monitoring industry. This oil condition monitoring market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The oil condition monitoring market size has grown strongly in recent years. It will grow from $1.42 billion in 2024 to $1.52 billion in 2025 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to asset reliability concerns, stringent quality and safety standards, preventive maintenance practices, complex machinery in oil & gas sector, rising focus on energy efficiency, awareness of environmental impact, growing demand for uninterrupted operations.

The oil condition monitoring market size is expected to see strong growth in the next few years. It will grow to $2.06 billion in 2029 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to demand for remote monitoring solutions, focus on proactive maintenance strategies, expansion of wind and solar energy, evolving regulatory landscape, rise in demand for condition-based monitoring. Major trends in the forecast period include focus on real-time monitoring, wireless sensor networks, oil quality monitoring, remote oil sampling and analysis, cloud-based monitoring platforms, strategic partnerships and collaborations.

The forecast of 7.8% growth over the next five years remains unchanged from the previous projection for this market.This reduction is primarily due to the impact of tariffs between the US and other countries. This is likely to directly affect the US through shortages of spectrometric oil analysis devices from Sweden and predictive maintenance software from Switzerland, limiting equipment reliability programs.The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.

The rapid growth of the automobile industry is anticipated to drive the expansion of the oil condition monitoring market in the coming years. The automobile industry encompasses businesses and activities involved in the production of motor vehicles, including most of their components, such as engines and bodies. Oil condition monitoring supports the automobile sector by tracking, measuring, and analyzing changes in lubricant and fuel oils for chemical content and contamination while also assessing the degradation of oil quality. For example, in March 2024, the European Automobile Manufacturers' Association, a Belgium-based industry organization, reported that the EU car market experienced significant growth in 2023, expanding by 13.9% compared to 2022, with a total volume of 10.5 million units. Thus, the booming automobile industry is propelling the oil condition monitoring market forward.

The upsurge in mining activities is anticipated to fuel the expansion of the oil condition monitoring market. Mining activities involve extracting valuable minerals, ores, or geological elements from the earth's crust. Oil condition monitoring plays a crucial role in mining by detecting and addressing contamination issues, such as particles or water in lubricating oil used for heavy machinery. For instance, according to the Glacier Media Group, US mines generated non-fuel mineral products valued at approximately $98.2 billion in 2022, a notable increase from the revised total of $94.6 billion in 2021. Thus, the growing mining operations significantly contribute to the growth of the oil condition monitoring market.

Technological advancement is a significant trend in the oil condition monitoring market. Numerous companies in this sector are focused on developing innovative products that leverage advanced technologies to enhance their market position. For example, in December 2023, Tan Delta Systems PLC, a UK-based manufacturing firm, introduced the SENSE-2K. This product employs cutting-edge sensors and technology to deliver real-time insights into the health and quality of lubricants, aiding in the optimization of maintenance schedules and enhancing machinery reliability. By continuously monitoring key parameters, the SENSE-2K facilitates predictive maintenance strategies, minimizes operational downtime, and prolongs the lifespan of equipment across various industries.

Leading companies in the oil condition monitoring market are developing innovative products, such as remote monitoring systems, to secure a competitive advantage. These systems facilitate real-time assessments of lubrication quality in machinery, allowing for the early identification of potential failures, which helps minimize unplanned downtime and enhances maintenance efficiency. For example, in October 2023, Valmet Oyj, a manufacturing company based in Finland, launched a new application called Valmet Oil Monitoring. This application is designed for the remote monitoring of oil lubrication in fiber processing equipment, tackling the challenges of manually retrieving oil samples in harsh environments. By enabling real-time surveillance of lubrication properties, the application detects changes in oil quality and helps forecast potential failures, allowing for timely corrective actions that can prevent unexpected shutdowns and costly repairs.

In June 2024, SPM International, a manufacturing company headquartered in France, acquired Status Pro Maschinendiagnostik GmbH for an undisclosed amount. This acquisition aims to bolster SPM's presence in Europe and enhance its capabilities in the condition monitoring sector, allowing the company to deliver superior customer service and innovative predictive maintenance solutions. Status Pro Maschinendiagnostik GmbH is a Germany-based firm that specializes in machine condition monitoring.

Major companies operating in the oil condition monitoring market are Parker Hannifin Corporation, Royal Dutch Shell PLC, Bureau Veritas Group, General Electric Company, British Petroleum Company PLC, Chevron Corporation, Baker Hughes Company, Exxon Mobil Corporation, Fluid Life Corporation, Insight Services Inc., Celanese Corporation, Eaton Corporation PLC, UNIMARINE LLC, Honeywell International Inc., Total SE, Rockwell Automation Inc., National Instruments Corporation, Vickers Oils Ltd., Element Materials Technology Group Limited, Eastway Tank Pump & Meter Limited, Blue Oceans Satellite Systems Inc., WearCheck Africa (Pty) Ltd., Wartsila Corporation, Societe Generale de Surveillance SA, Intertek Group PLC, TotalEnergies, Techenomics International

North America was the largest region in the oil condition monitoring market in 2024. Asia-Pacific is expected to be the fastest-growing region in the oil condition monitoring market during the forecast period. The regions covered in the oil condition monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the oil condition monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The oil condition monitoring market includes revenues earned by entities by providing oil analysis services such as lubricant and oil testing, grease testing, cylinder liner monitoring, ferrography testing, tribology testing, and other services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Oil Condition Monitoring Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on oil condition monitoring market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for oil condition monitoring ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The oil condition monitoring market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

• Markets Covered:1) By Product: Turbines; Compressors; Engines; Gear Systems; Hydraulic Systems
• 2) By Sampling: On Site; Off Site
• 3) By End User: Transportation; Oil And Gas; Mining; Energy And Power
• Subsegments:
• 1) By Turbines: Gas Turbines; Steam Turbines
• 2) By Compressors: Centrifugal Compressors; Positive Displacement Compressors
• 3) By Engines: Internal Combustion Engines; Diesel Engines; Gasoline Engines
• 4) By Gear Systems: Gearboxes; Drive Systems
• 5) By Hydraulic Systems: Hydraulic Pumps; Hydraulic Motors; Hydraulic Cylinders
• Companies Mentioned: Parker Hannifin Corporation; Royal Dutch Shell PLC; Bureau Veritas Group; General Electric Company; British Petroleum Company PLC; Chevron Corporation; Baker Hughes Company; Exxon Mobil Corporation; Fluid Life Corporation; Insight Services Inc.; Celanese Corporation; Eaton Corporation PLC; UNIMARINE LLC; Honeywell International Inc.; Total SE; Rockwell Automation Inc.; National Instruments Corporation; Vickers Oils Ltd.; Element Materials Technology Group Limited; Eastway Tank Pump & Meter Limited; Blue Oceans Satellite Systems Inc.; WearCheck Africa (Pty) Ltd.; Wartsila Corporation; Societe Generale de Surveillance SA; Intertek Group PLC; TotalEnergies; Techenomics International
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: PDF, Word and Excel Data Dashboard.