Posted By Coherent Market Insights
Posted on September 22, 2021
United States/WA: Market Will Boom In Near Future
Report Pages:[130 Pages]
Major Key Companies Involving in Online Oil Condition Monitoring Market:
Shell, Intertek Group Plc, Bureau Veritas SA, SGS SA, CASTROL LIMITED, SPECTRO Analytical Instruments GmbH, INSIGHT SERVICES, INC. (TestOil) and Parker Hannifin Corp among others. Companies such as SPM Instrument, Bureau Veritas, David Brown Santasalo
Oil conditioners are classified according to their specific uses. General lubricants are typically used in the mechanical systems of power transmission and cooling. Their primary function is to protect against friction, heat, and oxidation caused by these components. The classification of lubricants depends upon the function they are meant to serve. General lubricants include oil, hydraulic oils, anti-freeze fluids, oils, polymers, grease, etc. Energy monitoring has also become a popular application. Energy consumption is now being monitored by many devices including vehicle tires, vehicle engines, electric motors, solar panels, etc. Energy consumption is usually measured in watts (W) per hour. An energy measurement refers to the performance of a device based on the measurement of energy consumption over time and its relationship to that of a typical wind turbine gearbox oil filter.
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Increasing demand for cost-effective solutions is expected to drive growth during the forecast period. The demand for cost reduction has increased across various organizations. Online oil condition monitoring significantly minimizes the cost of oil changes and repairs as well as the risk of running machinery on bad oil, and machinery downtime. Online oil condition monitoring enhances ecological and economic efficiency by rising operating safety and reducing downtimes. It also improves on-site decision-making, in order to protect critical machinery from damage. Thus, these factors are expected to drive growth of the global online oil condition monitoring market during the forecast period. Moreover, increasing focus on reducing maintenance costs and rising need for time optimization is expected to boost the global online oil condition monitoring market growth over the forecast period.
However, the low availability of skilled personnel at remote locations and additional expenses that occurred during retrofitting is expected to hamper the global online oil condition monitoring market growth in the near future. Besides, increasing the adoption of big data analytics can provide major business opportunities in the global online condition monitoring market. Among regions, North America is expected to witness significant growth in the global online oil condition monitoring market during the forecast period. This is owing to the presence of key market players across the region. Furthermore, Asia Pacific is expected to register a robust growth rate over the forecast period, owing to growth in the industrial and manufacturing sectors.
For instance, in August 2020, Poseidon Systems LLC, a U.S.-based provider of advanced online oil condition monitoring (OCM), with ALS Limited to transform asset reliability.
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The post Online Oil Condition Monitoring Market is Growing Rapidly as New York-based Poseidon Systems LLC partners with ALS Ltd. to provide advanced online oil condition monitoring solutions appeared first on Gatorledger.
