Oil Condition Monitoring Market Global Industry growing at a CAGR of 10.3%, 2023

摘要

The Global Oil Condition Monitoring Market accounted for $435.16 million in 2016 and is expected to reach $864.1 7 million by 2023 growing at a CAGR of 10.3% during the forecast period. According to research for markets, the 'Oil Condition Monitoring - Global Market Outlook (201 7-2023)' is a professional and in-depth study & with a focus on the current state of the global industry. Factors such as growing demand for economical solutions, increasing need for time optimization, and rising demand for electricity that drives the need for continuous oil monitoring in turbines are fueling the market growth. Companies are persistently looking for different cost-effective ways to reduce the cost of oil condition monitoring. However, extra costs incurred in retrofitting existing systems are one of the key factors hampering the market growth.