openPR Logo
Press release

India Machine Condition Monitoring Market to Grow at a CAGR 10.0% from 2022 to 2027

06-08-2023 04:35 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

India Machine Condition Monitoring Market to Grow at a CAGR 10.0%

According to the new market research report "India Machine Condition Monitoring Market by Monitoring Technique (Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring, Ultrasound Emission), Monitoring Process (Online, Portable), Deployment, Offering - Global Forecast to 2027" , published by MarketsandMarkets, India Machine Condition Monitoring Industry to Grow at a CAGR 10.0% from 2022 to 2027

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=29627363

India to witness the highest growth rate of machine condition monitoring market

Machine condition monitoring evaluates the machine health of pumps, motors, generators, engines, boilers, and other machines. Machine health status by systematically analyzing several parameters, including temperature, vibration, corrosion, torque, alignment, and oil and wear debris, is identified with the help of machine conditioning monitoring systems. Thus, these factors help pre-determine the machine's faults, defects, and sudden failures. The rising adoption of smart factories, implementation of IIoT, and increasing demand for predictive maintenance are some of the key factors propelling the growth of the machine condition monitoring market. As per a report by MarketsandMarkets, the machine condition monitoring market size is projected to value USD 4.0 billion by 2027 at a CAGR of 7.8% during 2022-2027. The key players offering machine condition monitoring solutions include Emerson Electric (US), General Electric (US), Honeywell International (US), National Instruments (US), and SKF (Sweden).

Asia Pacific is expected to have lucrative growth prospects in the coming years. The growth of the machine condition monitoring market is attributed to the substantially growing manufacturing sector in major countries such as China, India, Japan, and South Korea and the growing adoption of predictive maintenance techniques in manufacturing plants. Furthermore, India is anticipated to grow at the highest growth rate for the machine condition monitoring market during the forecast period.
India has emerged as one of the leading hubs for the manufacturing sector, so several global automotive players are investing in the country. For instance, in 2021, German automotive player Webasto invested USD 34 million to build a sunroofs manufacturing facility in Pune, India. German auto component manufacturer ZF Friedrichshafen AG invested USD 220 million in India. One-fifth of this investment volume will be allotted for a tech center in Hyderabad, India, for the R&D work of the company.

Moreover, the 'Make in India' initiative has attracted several global automotive companies, including General Motors Company (US), Hyundai Motor Company (South Korea), and others, to manufacture their vehicles in India. Moreover, the sector is attracting considerable investments to expand its production due to the rising demand in the country. For instance, a global alliance of Nissan Motor Corporation (Japan) and Groupe Renault (France) has planned to invest USD 600 million over the next 3 to 5 years to expand their production and market share in the country. Thus, the drive towards the growth of India's automotive manufacturing industry generates a corresponding need for machine condition monitoring solutions at different stages of the manufacturing process to improve productivity and minimize unexpected shutdowns.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=29627363

Furthermore, the growing industrial sector has escalated the demand for power in the country. India is the third largest power producer and plans to increase its power capacity in the coming years. New renewable energy plants are being set up around the country. The need to ensure continuous power supply, enhance equipment performance, comply with regulatory standards, and minimize maintenance expenses are the factors behind adopting machine condition monitoring systems in the country's power generation sector.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release India Machine Condition Monitoring Market to Grow at a CAGR 10.0% from 2022 to 2027 here

News-ID: 3081484 • Views:

More Releases from MarketsandMarkets

Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your Revenue
Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to Surpass USD 36.7 billion
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth. Download PDF Brochure @
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMarkets
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2030 | Leading key players are ABB, Schneider Electric, Eaton, Vertiv
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2 …
According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of

All 5 Releases


More Releases for India

Ayurvedic Service Market is Flourishing Like Never Before | Patanjali Ayurved Li …
RnM newly added a research report on the Ayurvedic Service market, which represents a study for the period from 2020 to 2026. The research study provides a near look at the market scenario and dynamics impacting its growth. This report highlights the crucial developments along with other events happening in the market which are marking on the growth and opening doors for future growth in the coming years. Additionally, the
Pasta Market Report 2019 Companies included Bambino (India), Nestle (USA), Field …
We have recently published this report and it is available for immediate purchase. For inquiry Email us on: jasonsmith@marketreportscompany.com This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2019 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2019 to 2025, etc. The report also provides detailed segmentation on the
12-11-2018 | Health & Medicine
Pasta
Pasta Market Report 2018 Companies included Bambino (India), Nestle (USA), Field …
We have recently published this report and it is available for immediate purchase. For inquiry Email us on: jasonsmith@marketreportscompany.com This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also provides detailed segmentation on the
Interior Designers India, Designers and Architects India, Interior Design Consul …
Synergy Corporate Interiors Pvt. Ltd. are offer Designers and Architects India Our architects, designers are working an national and international client base. The final design output is then integrated with the various technical and engineering aspects and taken into production. The expression is also individualistic, based on the communication of the correct corporate identity. Our designers, engineers and architects perform any plan successfully combine handy knowledge with creative ideas into
Domain Registration India, Web Hosting India, VPS Hosting India , SSL Certificat …
All the Domain Registration services are at affordable price and assure you for the 100% quality. India Internet offers cheap domain name registration for many domain extensions available. We are a full-service web site solutions provider. We offer a full range of web services including domain registration India, Web Hosting India, Web design, SEO marketing and etc. We offer different standard and different Windows .NET low-cost, full-featured, all-inclusive web hosting and domain
Domain Registration India, Web Hosting India, Payment Gateway India
Indiainternet.in is a Quality Web Hosting Company India, provide all web related support and Web hosting services like linux web hosting, windows web hosting, web hosting packages, domain registration in india, Corporate email solution, business email hosting, payment gateway integration, SSL with supports like free php, cgi, asp, free msaccess, free cdonts, free webmail, web based control panel, unlimited ftp access, unlimited data transfer. During the domain registration process, you will