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The global oil condition monitoring market is experiencing significant growth, with its valuation reaching US$ 862.7 million in 2022 and a projected market size of US$ 1,496.3 million by 2031. The market is set to expand at a CAGR of 6.35% during the forecast period from 2023 to 2031, driven by increasing demand for machinery reliability, rising concerns over environmental protection, and advancements in technology. Major players in this market include Parker Hannifin Corporation, General Electric, SGS SA, Intertek Group PLC, and Bureau Veritas SA. One of the major factors driving the growth of the oil condition monitoring market is the increasing demand for predictive maintenance.