Oil Quality Sensors Segment to Dominate Europe Oil Conditioning Monitoring Market during 2020–2028
According to The Insight Partners market research study on “Europe Oil Conditioning Monitoring Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Sampling, Sensor Type, Product, Measurement, and Industry,” is expected to reach US$ 376.05 million by 2028 from US$ 252.20 million in 2021. The market is estimated to grow at a CAGR of 5.9% from 2021 to 2028. The report provides trends prevailing in the Europe oil conditioning monitoring market along with the drivers and restraints pertaining to the market growth. Elevating demand for power generation is the major factor driving the growth of the Europe oil conditioning monitoring market. However, worries about extra costs associated with retrofitting of current systems hinder the growth of Europe oil conditioning monitoring market.
In Europe, the COVID-19 pandemic has a different impact on different countries, as only selective countries have witnessed the rise in the number of cases and subsequently attracted strict, as well as prolonged, lockdown periods or social isolation norms. However, Western European countries such as Germany, France, Russia, and the UK have seen a comparatively modest decrease in their growth activities because of their strong healthcare systems. These countries have been investing significantly to make the diagnosis and treatment of the disease more effective and less time-consuming. Despite the fact that Europe is in a state of emergency, many nations are beginning to see the light at the end of the tunnel. Traditional corporate frameworks have been swiftly replaced by more innovative business concepts. Despite the fact that everything is unlikely to return to normal very soon, the oil and gas industry is projected to rebound quickly
The market for oil conditioning monitoring market is segmented into sampling, sensor type, product, measurement, industry, and country. Based on sampling, the market is bifurcated into on-site and off-site. In 2020, the off-site segment held the largest share Europe oil conditioning monitoring market. By sensors type, the market is segmented into oil quality sensors, metallic particle sensors, and density/viscosity sensors. In 2020, the oil quality sensors segment held the largest share Europe oil conditioning monitoring market. The oil conditioning monitoring market, based on product, is segmented into turbines, compressors, engines, gear systems, and hydraulic systems. In 2020, the turbines segment held the largest share Europe oil conditioning monitoring market. By measurement, the market is segmented into temperature, pressure, density, viscosity, dielectric, TAN, TBN, water dilution, fuel dilution, soot, and wear particles. In 2020, the viscosity segment held the largest share Europe oil conditioning monitoring market. The oil conditioning monitoring market, based on industry, is segmented into transportation, industrial, oil & gas, energy & power, and mining. In 2020, the transportation segment held the largest share Europe oil conditioning monitoring market. The oil conditioning monitoring market, based on country, is segmented into Germany, France, Italy, UK, Russia, Rest of Europe.
CM Technologies GmbH; Des-Case; Hydac Technology Limited; Intertek Group Plc; Tan Delta Systems Limited; Rheonics Group; SGS SA; Veritas Petroleum Services; are among the leading companies in the Europeoil conditioning monitoring market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, SGS SA has launched a new testing facility, dedicated to Oil Conditioning Monitoring (OCM), in Coatzacoalcos, Mexico. The new laboratory provides a complete range of OCM services for many industries, including oil and gas, power generation, mining, aviation, transportation, seaports, building maintenance and construction.
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