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3D Printing Market Revenue, Share, Trends, Competitive Analysis, Demand and Opportunities by 2023

10-30-2018 08:19 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

3D Printing Market Revenue, Share, Trends, Competitive

The global machine condition monitoring equipment market is expected to grow at a CAGR of 4.5% forecast to 2022. Among the various end users, the oil and gas segment accounted for largest share in the global machine condition monitoring equipment market.

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The surge in smart factories development, along with the advancement in efficiency and accuracy of machine conditioning component is expected to drive the growth of the machine condition monitoring equipment market during the forecast period. Over the last few years, asset management and reliability-centered maintenance has witnessed notable growth. In order to cut down the operating expenses, the companies are investing in predictive maintenance technologies for operating their plants more efficiently and productively.

The global online condition monitoring market is expected to witness considerable growth in predictive maintenance technique, especially in developing countries during the forecast period. Among the various components, the infrared sensor segment and corrosion probes segment are expected to be two of the fastest growing segments during the forecast period.

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The global machine condition monitoring equipment market is fragmented, with only few larger players operating globally. The entry barrier for new entrants in machine condition monitoring equipment market is fairly low, owing to low capital requirement and significant low proprietary learning curve in machine condition monitoring technologies.

About P&S Intelligence

P&S Intelligence, a brand of P&S Market Research, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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