Machine Condition Monitoring Market To Witness Remarkable Growth by Top Companies - ALS Limited, Brüel & Kjær Vibro GmbH, Emerson Electric Co., Fluke Corporation

Machine Condition Monitoring Market – Overview

The report provides analysis of the global machine condition monitoring market for the period 2016–2026, wherein 2018 to 2026 is the forecast period and 2017 is considered as the base year. Data for 2016 has been included as historical information. The report covers all the trends and technologies likely to affect the growth of the market during the forecast period. It highlights the drivers, restraints, and opportunities expected to influence the market. The study provides complete information about the market in terms of revenue (US$ Mn) across different regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South America. The report also highlights the key trends affecting the global market. Furthermore, region wise prominent countries/regions covered in the report include the U.S, Canada, Germany, France, the U.K., India, China, Japan, GCC, South Africa, and Brazil.

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Increase in need for reduced maintenance cost along with unexpected failure is anticipated to fuel the growth of global machine condition monitoring market. In order to find any failure in machine such as noise, vibration and temperature measurements, machine condition monitoring is required. Generally, machine condition monitoring techniques is used in rotating equipment, pumps, electric motors, internal combustion engines, presses. It is a major part of predictive maintenance. Machine condition monitoring allows maintenance to be scheduled and avoids its consequences. The demand for machine condition monitoring is rapidly increasing as they are widely used across various industries such as chemicals, aerospace & defence, automotive, metals and mining among many others

The report analyzes and forecasts the market for machine condition monitoring at the global and regional level. The market has been forecast based on revenue (US$ Mn) from 2018 to 2026. The study includes drivers and restraints of the global machine condition monitoring market. It also covers the impact of these drivers and restraints on the market during the forecast period.

The report comprises a detailed value chain analysis which provides a comprehensive view of the global machine condition monitoring market. Porter’s Five Forces model for the machine condition monitoring market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-use industry are benchmarked based on their market size, growth rate, and general attractiveness.

Global Machine Condition Monitoring Market: Taxonomy

The report segments the market based on component, type, solution type, end-use industry, and region. In terms of component, the market has been classified into hardware, software, and services. Based on type, the market has been categorized into thermography, vibration monitoring, lubrication oil monitoring, acoustic emission monitoring, ultrasound monitoring, corrosion monitoring, current signature monitoring, and others. Based on solution type, the market has been divided into online monitoring, integrated monitoring, continuous remote monitoring, and route based monitoring. In terms of end-use industry, the market has been classified into aerospace & defense, automotive, oil & gas, metal & mining, marine, food & beverage, chemicals & pharmaceuticals, and others (paper & pulp, textile, utility).

Global Machine Condition Monitoring Market: Research Methodology

Secondary research sources that are typically referred to include company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market.

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Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across regions. Primary interviews are conducted on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.

Global Machine Condition Monitoring Market: Competitive Dynamics

ALS Limited, Brüel & Kjær Vibro GmbH, Emerson Electric Co., Fluke Corporation, General Electric, Honeywell International, Meggitt SA, National Hardware, Parker Hannifin Corp, PRÜFTECHNIK Dieter Busch AG, Rockwell Automation, Inc., Schaeffler Technologies AG & Co. KG and SKF are the major players operating in the global machine condition monitoring market. Financials, SWOT analysis, business strategies, recent developments, and other strategic information pertaining to these players have been provided in the company profiles section. Various players are introducing machine condition monitoring systems with cloud technology and establishing partnerships with other players to meet the continuously rising demand for accurate and reliable equipment condition.

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