The global lubricant and oil testing market is expected to grow at a significant CAGR during the forecast period (2021-2027). The major factors propelling the growth of the global lubricant and oil testing market include rising demand to decrease the unscheduled downtime and increase the overall lifespan of the equipment. Additionally, the reduction of the cost of maintenance and the rising need for cost-effective solutions will propel the growth of the market.
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The key players contributing to the growth of the global lubricant and oil testing market by adopting various strategies such as product launches & developments, mergers and acquisition, partnerships, and agreements, include Bureau Veritas, Delta Services Industriels, Emerson, Exxon Mobil Corporation, Honeywell International Inc., among others. For instance, in February 2017, Intertek Group Plc announced that it has started the testing service termed TransoilCHECK, testing of transformer oil at its Cargo and Analytical Laboratory. It was the first to offer this service in India. The testing of oil will be based on the American Society for Testing and Materials (ASTM) and International Electrotechnical Commission (IEC) procedures and test methods.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Lubricant and Oil Testing Market by Segments
By Product Type
- Oil Testing
- Lubricant Testing
- Greases Testing
By Industry
- Engines
- Turbines
- Hydraulic Systems
- Compressors
- Others
Global Lubricant and Oil Testing Market by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
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