Global Market for Condition Monitoring System to Incur Steady Expansion During 2015 - 2025
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Condition Monitoring System Market: Drivers and Restraints
Higher productivity and optimized utilization of resources makes the condition monitoring system market lucrative. Increased automation in manufacturing, increased investment in predictive maintenance strategies and growing machine maintenance solution market is boosting the growth of condition monitoring system market. Also increased investments in chemicals, oil & gas, paper & pulp, heavy equipment and other industries tends to drive the condition monitoring system market.
On the other hand high cost of condition monitoring systems and unpredictable maintenance periods are restraints to the growth of condition monitoring system market.
Condition Monitoring System Market: Segmentation
On the basis of type of condition monitoring system, the market is segmented as:
Portable Machine Diagnostics
Online Machine Monitoring
Online Machine Protection
Factory Assurance Test
On the basis of monitoring technology, the condition monitoring system market is segmented as:
Motor Condition Monitoring
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On the basis of sensors and signals, the condition monitoring system market is segmented as:
On the basis of application, the condition monitoring system market is segmented as:
Oil & Gas
Others (Aerospace & Defense, Pulp and paper, Metals & mining, etc.)
Condition Monitoring System Market: Region-wise Outlook
Global condition Monitoring system is expected to encounter significant growth during the forecast period. North America dominates the condition monitoring system market, followed by North America, Europe is the next major market for the condition monitoring systems. Asia Pacific is emerging market for the condition monitoring system, and is anticipated to represent substantial growth during the forecast period, particularly in regions such as China and India. Japan is other significant region and expected to contribute major share in the global condition monitoring system market.
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Condition Monitoring System Market: Key Players
Key Players identified in the condition monitoring system market are
National Instruments Corporation.
Rockwell Automation, Inc.
PRÜFTECHNIK Dieter Busch AG.
Svenska Kullagerfabriken AB (SKF)
Bachmann electronic GmbH
Brüel & Kjær Vibro GmbH
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