Market Trends of Europe Machine Condition Monitoring Industry
This section covers the major market trends shaping the Europe Machine Condition Monitoring Market according to our research experts:
Industry 4.0 and Emerging Industrial Applications Across Manufacturing and Process Industries
- Industry 4.0 transforms how organizations manufacture, improve, and distribute their products. Manufacturers are increasingly integrating emerging technologies, such as IoT, cloud computing and analytics, and AI and machine learning, into their production facilities and operations.
- Moreover, in the past, preventive maintenance helped reduce machine downtime and avoid unscheduled outages. Industry 4.0 brought a new method of ensuring machine availability called condition monitoring. It involves continuous monitoring of machine data to detect wear, making it easier to schedule repairs and reduce downtime. The method also has the potential to lower maintenance costs, as only worn-out parts need replacing.
- Industry 4.0 is transitioning factories from legacy systems to smart components and machines, enabling digital factories and, eventually, an ecosystem of connected factories and enterprises. These smart factories are commonly equipped with advanced sensors, embedded software, and robotics that collect and analyze data, allowing for better decision-making.
- Automated machine monitoring forms the first step toward achieving smart factories. In a smart factory, machines are interconnected with IoT-enabled, web-based sensors that facilitate real-time machine data extraction. The network of connected machines helps obtain valuable insights into machine performance, enhances ongoing production, and analyzes estimated versus actual production ratios. According to ETNO, the active Internet of Things (IoT) connections in the automotive sector would be 223 million, and industries would be 19 million across Europe by 2027.
- Shop or factory floor communications can also be improved with machine monitoring. Manufacturers and operators across the shop floor are informed on machine behavior through analytics, warnings, and other notifications that expand production process visibility, creating a catalyst for better stakeholder awareness and engagement. Machine monitoring is vital for creating an opportunity for all stakeholders to connect individual, independent shop floor operations to account for broader performance and process outcomes that are essential for a smart factory.
- Overall, a smart factory is effective when machines or assets in the production process are monitored in real-time with minimal manual intervention. By tracking several parameters like pressure, vibration, temperature, and noise, machine monitoring determines asset health conditions. Machine performance metrics are also identified, and any deterioration or faulty part is immediately reported.
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Germany Holds the Highest Market Share
- The automotive sector is one of the largest industries in Germany. The country is also one of the strongest in the world when it comes to high-tech automotive products, including autonomous driving technology. Germany is Europe's largest automotive market, accounting for around 25% of all passenger cars manufactured and almost 20% of all new registrations, according to the Germany Trade and Invest (GTAI).
- Also, as per GTAI, German automobile manufacturers produced more than 15.6 million vehicles the previous year. Over 3.1 million passenger cars and 351,000 commercial vehicles were manufactured in German plants. Consequently, there was a significant demand for condition monitoring solutions from this sector to ensure the safe operation of vehicles.
- According to OICA, new car sales and registrations in Germany increased, reaching 4.02 million in 2019. Due to the manufacturing halt during the pandemic, the sales decreased to approximately 3.27 million the following year. New sales and registrations decreased, with 2.97 million in 2021, a 26% decrease from 2019.
- The market also benefits from a strong maritime industry in the country. Germany is among the largest seafaring nations globally. According to the Federal Ministry for Digital and Transport, the country has an international market share of around 30% in the container shipping sector. The German shipping industry generates an annual turnover of over EUR 50 billion (USD 52.51 billion).
- In day-to-day ship operations, structural and mechanical failures might result in serious accidents, inflicting ship damage, placing the crew and passengers on board in danger, posing a threat to the environment, and causing substantial financial losses. As a cost-efficient and effective maintenance strategy that can save ships from such risks, condition monitoring is gaining popularity in the marine industry. Condition monitoring in onboard ships helps monitor critical onboard assets, such as main engines, thrusters, generators, compressors, and pumps.
- Moreover, in April 2022, Germany-based Brüel& Kjær Vibro(B&K Vibro), a global supplier of condition monitoring solutions for rotating machinery, introduced an array of product enhancements for its VCM-3/SETPOINT offerings to provide a single, integrated SETPOINT condition monitoring system (CMS) solution. The data from VCM-3 can be fully integrated with VC-8000 data and fed directly into SETPOINT CMS, creating a plant-wide solution that encompasses machine protection and condition monitoring for critical and BOP machinery assets.
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