Press release
Machine Condition Monitoring Market Expected Growth 5.9% With Growth Analysis, Business Opportunities and Drivers by 2025: Leading Companies are Emerson, GE, Honeywell, National Instruments, SKF Group, ALS, Meggitt, Rockwell Automation, Schaeffler
The global machine condition monitoring market is expected to reach USD 4.2 billion by 2025, from USD 2.4 billion in 2017, growing at a CAGR of 5.9% during the forecast period of 2018 to 2025.
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Top Key Players:
• Emerson
• GE
• Honeywell
• National Instruments
• SKF Group
• ALS
• Meggitt
• Rockwell Automation
• Schaeffler
• Parker Hannifin
• Bruel & Kjaer Sound & Vibration Measurement A/S
• Fluke Corporation
• Analog Devices
• PRUFTECHNIK Group
• Systems Limited
• SPM Instrument
• Machine Saver, INC.
• 3DSignals
• LogiLube, LLC
• Petasense
• Senseye
• Uptake
• SpaceTime Insight
• among others.
Global Machine Condition Monitoring Market, By Monitoring Technique (Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring, Ultrasound Emission Monitoring), By Offering (Hardware, Software), By Deployment, By Type (Vibration Analysis, Diagnostics), By Industry, By Monitoring Process, By End-User, By Component (Spectrometer, Ultrasound Detector), By Application, By Geography– Industry Trends and Forecast to 2025
Table of Contents:
1 Introduction
2 Research Methodologies
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Compliance in Machine Condition Monitoring Market
8 Machine Condition Monitoring Market, By Service
9 Machine Condition Monitoring Market, By Deployment Type
10 Machine Condition Monitoring Market, By Organization Size
11 Machine Condition Monitoring Market Analyses, By Vertical
12 Geographic Analyses
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa
13 Competitive Landscapes
14 Detailed Company Profiles
15 Related Reports
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Complete report on Global Machine Condition Monitoring Market Research Report 2017-2024 spread across 350 Pages, profiling Top companies and supports with tables and figures
Market Definition: Global Machine Condition Monitoring Market
This market report defines the market trends and forecast the upcoming opportunities and threats of the machine condition monitoring market in the next 8 years. Machine condition monitoring is the process, which involves measuring certain condition of a machine, such as temperature, humidity, pressure and many more. Machine conditioning is used in the detection of any mechanical fault and failure of machine. Vibration, noise, and temperature measurements are the major indicators to determine the status of machine. Machine condition monitoring involves noise, temperature, and vibration measurements as the key indicators for any equipment. Failure in equipment leads to huge losses in terms of productivity, quality of goods, and capital spent on the purchasing of new equipment. Therefore, machine condition monitoring acts as a predictive maintenance measure for such equipment. Machine condition monitoring is used in various sectors such as automotive, aerospace and defence, marine, chemicals, oil and gas, metal and mining, energy and power, and others. Successful machine monitoring includes knowledge of what to listen for, and how to interpret that knowledge to use. Many advances have taken place in this field, for instance, in 2014 SKF launched new condition monitoring sensor suitable for hazardous environments. In 2017 SKF has launched software centre for condition monitoring in Sweden.
Company Share Analysis: Global Machine Condition Monitoring Market
The global machine condition monitoring market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of machine condition monitoring market for global, Europe, North America, Asia Pacific and South America.
Queries Related to the Market:
• Which application segments will perform better and achieve success in worldwide through the forecast years?
• What are the key factors driving the market growth?
• Who are the key vendors in this Industry?
• Which are the impressive business sectors where best players want their own expansion in future?
• What are the market dynamics?
• What are the limits ruining the development rate?
• What is the focused circumstance to advance development?
• What are the opportunities and threats faced by the performers in the global market?
• What are the development rates for this Industry?
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Customize report of "Global Machine Condition Monitoring Market" as per customers requirement also available.
Market Segmentations:
Global Machine Condition Monitoring Market is segmented on the basis of
• Monitoring Technique
• Offering
• Deployment Type
• End-Use Industry
• Monitoring Process
• Industry
• End User
• Component
• Application
• Geography
Market Segmentations in Details:
On the basis of Monitoring Technique, the global machine condition monitoring market is segmented into vibration monitoring, thermography, oil analysis, corrosion monitoring, and ultrasound emission monitoring, motor current analysis.
On the basis of Offering, the global machine condition monitoring market is classified into hardware and software.
On the basis of Deployment Type, the global machine condition market is segmented into on premise and cloud.
On the basis of End-Use industry, the global machine condition monitoring market is classified into food & beverages, commercial, energy & power, and others.
On the basis of Monitoring Process, the global machine condition monitoring market is segmented into online condition monitoring and portable condition monitoring.
On the basis of by Industry, the global machine condition monitoring market is segmented into oil & gas , power generation , metals & mining , chemicals, automotive, aerospace & defence , food & beverages, marine, and others.
On the basis of End User, the global machine condition monitoring market is segmented into power industry, oil and gas industry, pulp and paper industry, cement and metal industry, chemical and petrochemical industry, and automotive industry.
On the basis of Component, the global machine condition monitoring market is segmented into spectrometer, ultrasound detector, and others.
On the basis of Application, the global machine condition monitoring market is segmented into aerospace, defence, and others.
On the basis of Geography,
• North America
• South America
• Europe
• Asia-Pacific
• Middle East & Africa
Major Market Drivers:
• Cloud computing platform are more secured.
• Leaning towards predictive maintenance
• Automated condition monitoring technologies are promoted.
Restraints:
• Shortage of technical resources for data analysis
• Uncertainty in forecasting capabilities.
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