Market Share of Condition Monitoring Equipment Industry
The condition monitoring equipment Market is moderately concentrated and growing with the presence of major players like Rockwell Automation Inc., Emerson Electric Co., Meggitt PLC, General Electric Company, and SKF. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
In August 2022, Perkin Elmer announced that it entered an agreement with New Mountain Capital to divest its Analytical and Enterprise Solutions businesses, which, upon completion, was to result in the creation of excellent opportunities for growth and strategic advancement.
In July 2022, General Electric Company announced plans to become three independent and publicly traded businesses focusing on healthcare, energy, and aviation, where new names also reflect a new beginning. GE's healthcare business will be called GE HealthCare. GE's existing portfolio of energy businesses, including Renewable Energy, Power, Digital, and Energy Financial Services, will sit together under the brand name GE Vernova. GE Aerospace will be the name of GE's aviation business.
In May 2022, SKF launched SKF Axios. This solution reinvented industrial machine reliability and predictive maintenance based on a collaboration between SKF and Amazon Web Services Inc. In addition, SKF was to display SKF Axios at the AWS booth at Hannover Messe 2022.
Condition Monitoring Equipment Market Leaders
Rockwell Automation Inc.
Emerson Electric Co.
Meggitt PLC
General Electric Company
SKF
*Disclaimer: Major Players sorted in no particular order
