Press release
Motor Monitoring Market Share, Competitive Landscape, Business Opportunities and Forecast 2022-2027
Motor Monitoring Market
Motor monitoring refers to one of the predictive maintenance aspects involving thorough inspection using modern and state-of-the-art equipment. It usually focuses on tracking the performance of motors and reducing downtime needed for repairs. In addition to this, motor monitoring also analyzes testing starting loads, ambient temperature, availability of spares, ease of testing, the number of starts and stops, etc. It aids in avoiding critical unplanned downtime, locating potential problems, ensuring efficiency, improving plant operations, etc. Consequently, motor monitoring finds extensive applications in several industries, including aerospace, automotive, oil and gas, etc.
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Market Trends:
The inflating need for detecting potential issues in machines before their breakdown is primarily driving the motor monitoring market. Additionally, the launch of numerous favorable policies by government bodies across countries to promote the adoption of energy-efficient products and minimize carbon emissions from various industrial verticals is propelling the demand for motors as they are more environment-friendly and affordable than fossil-fuel engines. Besides this, the growing utilization of electric motors in domestic appliances, machine tools, industrial fans, etc., owing to their high endurance for fluctuating voltages, efficiency, durability, etc., is further catalyzing the market growth. Moreover, the rising popularity of motor monitoring in sports and thermal imaging is acting as another significant growth-inducing factor. Apart from this, the introduction of advanced test equipment that collect data via three voltage probes and corresponding current transformers is anticipated to fuel the motor monitoring market over the forecasted period.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
• AB SKF
• ABB Ltd
• ALS Limited
• Eaton Corporation plc
• Emerson Electric Co.
• General Electric
• Honeywell International Inc
• National Instruments Corp.
• Parker-Hannifin Corp
• Rockwell Automation Inc
• Schneider Electric
• Siemens AG
Motor Monitoring Market Segmentation:
Our report has categorized the market based on region, offering, monitoring process and end use.
Breakup by Offering:
• Hardware
• Software
Breakup by Monitoring Process:
• Oil Analysis
• Motor Current Analysis
• Ultrasound
• Thermography
• Vibration Analysis
• Others
Breakup by End Use:
• Oil and Gas
• Energy and Power
• Aerospace and Defense
• Automotive
• Others
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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