Vibration Monitoring Market Will Hit at a CAGR of 7.0% During Forecast Period 2017-2024
The Global Vibration Monitoring Market accounted to USD 1.3 billion in 2016 growing at a CAGR of 7.0% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Vibration monitoring systems are used for the purpose of decreasing the cost of operation by reducing the occurrences of unplanned outages and maintenance cost. These systems are further utilized for optimizing several maintenance activities at the time of a planned shutdown. The latest trend in this market is wireless vibration monitoring systems, which are handy and easy to use and company awareness towards unplanned maintenance. These systems are gaining rising trends in the small factories to reduce the unpredicted outages and predictive maintenance. This system detects the faults in the system, so they are widely used to reduce the future risk in the industries.
Major Market Drivers and Restraints:
• Rising trend of wireless vibration monitoring systems
• Growing awareness toward predictive maintenance
• Emerging applications
• Rising demand for smart factory
• Additional cost associated with existing machinery
Market Segmentation: Global Vibration Monitoring Market
On the basis of monitoring system the Vibration Monitoring Market is segmented into Route-Based Monitoring, Portable Machine Diagnostics, Online Machine Monitoring, Online Machine Protection, and Factory Assurance Test. The Portable machine diagnostic market is expected to grow in the forecasted period.
On the basis of Monitoring Technology the Vibration Monitoring Market is segmented into Vibration Analysis, Corrosion monitoring, Lubricant Analysis, Infrared Thermography, Ultrasound Testing, Motor Condition Monitoring. The Ultrasound testing market is expected to grow in the forecasted period.
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On the basis of application the Vibration Monitoring Market is segmented into Automotive, Chemicals, Renewable Energy, Oil & Gas, Others. The Oil & Gas market is expected to grow in the forecasted period.
On the basis of geography, Vibration Monitoring Market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Competitive Analysis: Global Vibration Monitoring Market
Vibration Monitoring Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of flow cytometry market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors: Global Vibration Monitoring Market
Some of the major players operating in Vibration Monitoring Market are:
Azima DLI Corporation, Analog Devices, Emerson Electric Co., Inc, Bruel & Kjaer Sound & Vibration Measurement A/S, Honeywell International, Inc., National Instruments Corporation, Inc., PCB Piezotronics Inc., General Electric Company, Rockwell Automation, Meggitt PLC, SKF, Data Physics Corporation, and SPM Instrument, National Instruments Corporation, PRÜFTECHNIK Dieter Busch AG, Svenska Kullagerfabriken AB (SKF), Bachmann electronic GmbH, Brüel & Kjær Vibro GmbH, Parker Kittiwake, ifm electronic gmbh among others. In 2017, Rockwell Automation partners with Manpower Group, this will help the Rockwell Automation world’s largest company devoted exclusively to industrial.
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Global Non-Destructive Testing and Inspection Market– Industry Trends and Forecast to 2024
Global Non-Destructive Testing and Inspection market, By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa), By Technique (Ultrasonic Testing (UT), Visual Testing, Magnetic Particle Testing (MPT), Liquid Penetrant Testing (LPT), Eddy Current Testing (ECT), Radiographic Testing (RT), Acoustic Emission Testing (AET)); By Method (Visual Inspection, Surface Inspection, Volumetric Inspection) By Service (Inspection Services, Equipment Rental Services, Calibration Services, Training Services), By Vertical (Manufacturing, Oil & Gas, Aerospace & Defense, Public Infrastructure, Automotive, Power Generation) – Industry Trends and Forecast to 2024
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