Turbines Segment to Dominate APAC Oil Conditioning Monitoring Market during 2020–2028

According to a new market research study on “APAC 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$ 485.91 million by 2028 from US$ 270.36 million in 2021. The market is estimated to grow at a CAGR of 8.7% from 2021 to 2028. The report provides trends prevailing in the APAC oil conditioning monitoring market along with the drivers and restraints pertaining to the market growth. Enactment of big data is the major factor driving the growth of the APAC oil conditioning monitoring market. However, concerns about extra costs associated with retrofitting of current systems hinder the growth of APAC oil conditioning monitoring market.

The COVID-19 pandemic has severely impacted APAC due to wide disease spread; countries in this region are among the highly populated, which leads to the greater risk infection spread. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies such as China, India, Australia, and Japan, which are experiencing inflation. India is the worst-hit country by the pandemic in this region. Many global brands and technological companies are headquartered in the region. The limitations imposed by governments to control the spread of COVID-19, the impact of the disease on populations of different countries in the region, and current inability to utilize production capabilities are the key factors impacting oil market in Asian countries. Therefore, the COVID-19 pandemic is likely to continue to hinder the oil conditioning monitoring market growth in APAC

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 APAC 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 APAC 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 APAC 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 APAC 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 APAC oil conditioning monitoring market. The oil conditioning monitoring market, based on country, is segmented into Australia, China, India, Japan, South Korea, Rest of APAC.

CM Technologies GmbH; Hydac Technology Limited; Intertek Group Plc; SGS SA; Veritas Petroleum Services; are among the leading companies in the APAC oil 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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