FTIR Oil Condition Monitoring Market
FTIR Oil Condition Monitoring Market Analysis Report By Service type (On-field Services, Off-field Services), By Product Type (Compressors, Gear Systems, Engines, Turbines, Hydraulic Systems), By End Use Industry (Oil & Gas, Chemical, Transportation, Automotive) - Regional Forecast 2021 to 2031
Analysis of FTIR Oil Condition Monitoring Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
FTIR Oil Condition Monitoring Market Forecast and CAGR
According to the latest research by Future Market Insights, the FTIR Oil Condition Monitoring market is set to witness robust growth during 2021 to 2031. Key end-use industries to subscribe to this service are expected to be petrochemicals, automotive, and industrial machinery domains where lubrication quality is consistently checked to ensure its desirable functioning.
In wake of the ongoing pandemic, the financial quarters of 2020 witnessed subdued growth in most of the industry verticals where only prudent investments and expenditures were undertaken by the stakeholders. The situation is expected to improve post 2nd quarter of 2021, with a prominent share of industry verticals resuming the operations at a threshold rate.
Don't Need a Global Report?
save 40%! on Country & Region specific reports
What is Driving Demand for FTIR Oil Condition Monitoring?
Checking the condition of lubricant oil regularly is essential for monitoring the performance of the equipment. The service provides sensitive data about the presence of hazardous chemicals in the oil.
Furthermore, the composition of the oil is a crucial factor in chemical processes, where they generally prefer FTIR Oil Condition Monitoring due to its high accuracy analysis. Moreover, FTIR oil condition monitoring services can reduce the maintenance expenses by suggesting particular lubricants for machinery, replacement needs, and identifying wear-down.
Most of the synthetic lubricant oils are made from bi-products of natural gas/oil, which have almost similar price increases to mineral oils. Therefore, the industries such as chemical, oil & gas, automotive, machinery manufacturing, etc. are preferring the service to get information about used lubricant oil in machinery/process. Moreover, these industries are expanding rapidly all around the globe. These factors are estimated to boost the growth of the market.
Off-Site testing Services leading the end user demand share
The off-site testing services provide a range of testing services due to the availability of instruments such as FTIR, UV, Mass spectroscopy, etc. These instruments give accurate information about testing samples.
Moreover, many clients prefer FTIR technology for lubricant analysis due to its high accuracy, which is driving the growth of FTIR oil condition monitoring market. Furthermore, FTIR oil condition monitoring services include additional services like expert guidance about fault detection in-process and suggestion to choose suitable lubricants for machinery/process. These factors are stimulating the growth of FTIR oil condition monitoring market.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
U.S. Demand Scenario
With the nation being a prominent hub of automotive production as well as manufacturing sector comprising of MSME and Heavy Engineering industries, the periodic overhaul and maintenance of machinery and lubrication is expected to generate a significant demand considering the industrial bases and its growth in last 2-3 years with opening of new facilities in the industrial hubs. Defence and Aerospace is also expected to incur a promising quota of FTIR oil condition monitoring services.
South East Asia market Outlook
Countries in South East Asia such as China, India and Vietnam currently recording the high indices of industrialization and related production output is set to become the next market of prime growth. With continued investments in setting up of manufacturing facilities by domestic as well as foreign based enterprises, the demand potential is projected to of an encouraging type to the services. Also with objective of economic means of operations, the market growth does appears to be lucrative in the region.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Who are the Key Manufacturers and Suppliers of FTIR Oil Condition Monitoring?
Some of the prominent service providers of FTIR oil condition monitoring are some of the prominent manufacturers of the flashpoint analyzers SGS SA, Bureau Veritas Intertek Group plc, PerkinElmer Inc., eralytics, Optimus Instruments, Parker Hannifin Manufacturing Ltd, Oil Check Laboratory Services Ltd, and Runningland Metrology & Testing (Shanghai) Co., Ltd. Companies are developing new technology to enhance the FTIR oil condition monitoring services due to increasing demand and unique requirements of oil analysis. For instance, eralytics Company developed new portable infrared analyzer for high-speed lubricant oil analysis.
FTIR Oil Condition Monitoring Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Key Segments
-
Service type :
- On-field Services
- Off-field Services
-
Product Type :
- Compressors
- Gear Systems
- Engines
- Turbines
- Hydraulic Systems
-
End Use Industry :
- Oil & Gas
- Chemical
- Transportation
- Automotive
- Aerospace & Defense
- Others (Mining, etc.)
-
By Region :
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Others
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Nordics
- Benelux
- Russia
- South Asia & Pacific
- India
- ASEAN
- Oceania
- East Asia
- China
- Japan
- South Korea
- Middle East and Africa
- GCC Countries
- Turkey
- Northern Africa
- South Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Table of Content
- 1. Executive Summary
- 2. Industry Introduction, including Taxonomy and Market Definition
- 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
- 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
- 5. Pricing Analysis
- 6. Global Market Analysis and Forecast
- 7. Global Market Analysis and Forecast, By Service Type
- 7.1. On-field Services
- 7.2. Off-field Services
- 8. Global Market Analysis and Forecast, By Product Type
- 8.1. Compressors
- 8.2. Gear Systems
- 8.3. Engines
- 8.4. Turbines
- 8.5. Hydraulic Systems
- 9. Global Market Analysis and Forecast, By End Use Industry
- 9.1. Oil & Gas
- 9.2. Chemical
- 9.3. Transportation
- 9.4. Automotive
- 9.5. Aerospace & Defense
- 9.6. Others (Mining, etc.)
- 10. Global Market Analysis and Forecast, By Region
- 10.1. North America
- 10.2. Latin America
- 10.3. Western Europe
- 10.4. Eastern Europe
- 10.5. East Asia
- 10.6. South Asia & Pacific
- 10.7. MEA
- 11. North America Sales Analysis and Forecast, by Key Segments and Countries
- 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries
- 13. Western Europe Sales Analysis and Forecast, by Key Segments and Countries
- 14. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries
- 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries
- 16. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries
- 17. MEA Sales Analysis and Forecast, by Key Segments and Countries
- 18. Sales Forecast by Service Type, Product Type, and End Use Industry for 30 Countries
- 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
- 20. Company Profile
- 20.1. Flashpoint Analyzers SGS SA
- 20.2. Bureau Veritas
- 20.3. Intertek Group plc
- 20.4. PerkinElmer Inc.
- 20.5. eralytics
- 20.6. Optimus Instruments
- 20.7. Parker Hannifin Manufacturing Ltd
- 20.8. Oil Check Laboratory Services Ltd
- 20.9. Runningland Metrology & Testing (Shanghai) Co., Ltd
Don't Need a Global Report?
save 40%! on Country & Region specific reports
List Of Table
Table 01: Global Market US$ Mn Forecast by Region
Table 02: Global Market US$ Mn Forecast by Service Type
Table 03: Global Market US$ Mn Forecast by Product Type
Table 04: Global Market US$ Mn Forecast by End Use Industry
Table 05: North America Market US$ Mn Forecast by Country
Table 06: North America Market US$ Mn Forecast by Service Type
Table 07: North America Market US$ Mn Forecast by Product Type
Table 08: North America Market US$ Mn Forecast by End Use Industry
Table 09: Latin America Market US$ Mn Forecast by Country
Table 10: Latin America Market US$ Mn Forecast by Service Type
Table 11: Latin America Market US$ Mn Forecast by Product Type
Table 12: Latin America Market US$ Mn Forecast by End Use Industry
Table 13: Western Europe Market US$ Mn Forecast by Country
Table 14: Western Europe Market US$ Mn Forecast by Service Type
Table 15: Western Europe Market US$ Mn Forecast by Product Type
Table 16: Western Europe Market US$ Mn Forecast by End Use Industry
Table 17: Eastern Europe Market US$ Mn Forecast by Country
Table 18: Eastern Europe Market US$ Mn Forecast by Service Type
Table 19: Eastern Europe Market US$ Mn Forecast by Product Type
Table 20: Eastern Europe Market US$ Mn Forecast by End Use Industry
Table 21: East Asia Market US$ Mn Forecast by Country
Table 22: East Asia Market US$ Mn Forecast by Service Type
Table 23: East Asia Market US$ Mn Forecast by Product Type
Table 24: East Asia Market US$ Mn Forecast by End Use Industry
Table 25: South Asia & Pacific Market US$ Mn Forecast by Country
Table 26: South Asia & Pacific Market US$ Mn Forecast by Service Type
Table 27: South Asia & Pacific Market US$ Mn Forecast by Product Type
Table 28: South Asia & Pacific Market US$ Mn Forecast by End Use Industry
Table 29: MEA Market US$ Mn Forecast by Country
Table 30: MEA Market US$ Mn Forecast by Service Type
Table 31: MEA Market US$ Mn Forecast by Product Type
Table 32: MEA Market US$ Mn Forecast by End Use Industry
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
List Of Figures
Figure 01: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Service Type
Figure 02: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 03: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 04: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 05: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Service Type
Figure 06: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 07: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 08: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 09: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Service Type
Figure 10: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 11: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 12: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 13: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Service Type
Figure 14: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 15: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 16: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 17: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Service Type
Figure 18: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 19: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 20: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 21: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Service Type
Figure 22: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 23: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 24: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 25: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Service Type
Figure 26: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 27: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 28: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 29: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Service Type
Figure 30: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 31: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 32: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
Which is the most preferred FTIR oil condition monitoring service type?
Off-site testing services account for 50% share of the global market.
What is the major purpose of FTIR oil condition monitoring?
FTIR oil condition monitoring services can reduce maintenance expenses by suggesting particular lubricants for machinery and identifying wear-downs.
What is hampering demand for FTIR oil condition monitoring?
Lack of skilled professionals is restraining the FTIR oil condition monitoring market growth.
FTIR Oil Condition Monitoring Market