The oil conditioning monitoring market in Europe is expected to grow from US$ 252.20 million in 2021 to US$ 376.05 million by 2028; it is estimated to grow at a CAGR of 5.9% from 2021 to 2028.
Growing demand of cost-effective services is bolstering the growth of the market.Hundreds of oil samples are analyzed every day by specialist service laboratories and large plant operators for a variety of constituents to detect component wear and the presence of foreign materials that may accelerate wear.
The study of lubricating oils in use helps in lowering operating costs, reducing downtimes, increasing plant and equipment lives, and making effective maintenance plans.Lubricating oil analysis is also being used to check the condition of engines and other machinery.
It is used to lubricate most lubricated mechanical systems, such as engines, gear gearboxes, hydraulics, and the like, and has a wide range of applications in industries such as construction, power production, and transportation, including aircraft, fleet operations, and public transit.In addition, under fault circumstances, many additional changes may occur in oils, such as dilution by fuels or contamination by water or anti-freeze.
For example, oxidation can cause changes in lubricant characteristics such as viscosity, resulting in faster wear rates. Because elemental analysis cannot identify all these processes, a combination of physical and chemical measuring techniques is required for complete condition monitoring, although elemental analysis has emerged as the most important instrument for wear detection. As a result, efficient oil monitoring aids in the provision of cost-effective services in a variety of industrial surroundings. All these factors would positively influence the demand for oil conditioning monitoring in the coming years.
In Europe, the impact of COVID-19 pandemic was not similar in all countries, as only a few countries have witnessed the rise in the number of cases and subsequently imposed strict and 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 diseases more effective and less time-consuming.Even though 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 innovative business concepts. Despite the fact that everything is unlikely to return to normal very soon, the oil & gas industry is projected to rebound quickly in the coming years.
Based on sensor type, the oil quality sensors segment led the Europe oil conditioning monitoring market in 2020.Oil quality sensors are designed and developed to meet the stringent quality requirements.
Based on a proprietary technique, the sensor produces the accurate real-time supervision of any lubricating oil state and provides a 360° image of how engine oil is running.Reliability, efficiency, cost-cutting, and reduced environmental effect are a few main benefits of an oil quality sensor.
For instance, Des-Case provides Oil Quality Sensor 2 (OQS 2) puts in control with real-time monitoring of oil degradation, oil condition, and water ingress. The OQS 2 is a real-time, highly versatile, and cost-effective condition-based monitoring system that can be permanently installed in any lubrication system on any machine, which drives the oil conditioning monitoring market growth in Europe.
The overall Europe oil conditioning monitoring market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the Europe oil conditioning monitoring market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe oil conditioning monitoring market. CM Technologies GmbH, Des-Case, Hydac Technology Limited, Intertek Group Plc, Tan Delta Systems Limited, Rheonics Group, SGS SA, and Veritas Petroleum Services are a few players operating in the market
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