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Nanakramguda Rd, Financial District, Gachibowli
Hyderabad, Telangana - 500008
India
The Machine Condition Monitoring Market is segmented by Machine Condition Monitoring, Vibration Monitoring Equipment, Thermography Equipment and Lubricating Oil Analysis Equipment.
Study Period:
2020-2025
Base Year:
2019
Fastest Growing Market:
Europe
Largest Market:
North America
CAGR:
9.02 %
The Global Machine Condition Monitoring Market (henceforth, referred to as the market studied) was valued at USD 3144.98 Million in 2019, and it is projected to be worth USD 4762.62 Million by 2025, registering a CAGR of 9.02% during the period of 2020-2025. One of the primary goals for any business is the prolonging of an asset’s lifecycle and ensuring that the asset functions efficiently for a long period. This can be accomplished through the use of condition monitoring. Maintenance is crucial to machines. Machine condition monitoring is an important part of maintenance, and thus,many companies have been focusing more on asset utilization and increasing productivity.
Machine condition monitoring is the process of monitoring the condition of a machine with the intent to predict mechanical wear and failure. Trends in the data provide health information about the machine and help detect machine faults early, which prevents unexpected failure and costly repair. The scope of the study is currently focused on key countries in regions such as the North America, Europe, Asia-Pacific in addition to Latin America, and Middle East and Africa. The monitoring type segmentation is for the condition monitoring product type, i.e. hardware (equipment). The further sub-segmentation of the condition monitoring equipment market for vibration monitoring equipment, thermography equipment, and lubricating oil analysis equipment market is for the hardware type product segmentation of condition monitoring market. Estimation have been arrived following a top-down and bottom-up mixed approach for analysis.
MACHINE CONDITION MONITORING | |||||||||||||||
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VIBRATION MONITORING EQUIPMENT | |||||||||||||||||||
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Vendor Market Share Analysis |
THERMOGRAPHY EQUIPMENT | |||||||||||||||||||
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Vendor Market Share Analysis |
LUBRICATING OIL ANALYSIS EQUIPMENT | |||||||||||||||||||
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Vendor Market Share Analysis |
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Machine Condition Monitoring Market is moderately competitive with no firm having a very large market share. The companies enter into strategic partnerships to gain market power and market dominance.
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness Porters Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Impact of COVID-19 on the Market
4.5 Market Drivers
4.5.1 Increasing Equipment Performance and Productivity through Predictive Maintenance
4.5.2 Rising Predictive Maintenance Requirements
4.5.3 Industry 4.0 and Emerging Industrial Applications across Manufacturing and Process Industries
4.6 Market Challenges
4.6.1 Cost Implications in Line with Retrofits
4.6.2 Global Macroeconomic and Geopolitical Factors
5. MARKET SEGMENTATION
5.1 MACHINE CONDITION MONITORING
5.1.1 Type
5.1.1.1 Hardware
5.1.1.1.1 Vibration Condition Monitoring Equipment
5.1.1.1.2 Thermography Equipment
5.1.1.1.3 Lubricating Oil Analysis
5.1.1.1.4 Ultrasound Emission Monitoring
5.1.1.1.5 Other Types
5.1.1.2 Software
5.1.1.3 Services
5.1.1.3.1 Remote Monitoring Services
5.1.1.3.2 Instrumentation Maintenance Services
5.1.1.3.3 Machinery Diagnostics Services
5.1.2 Monitoring Type
5.1.2.1 Portable/Handheld
5.1.2.2 Online
5.2 VIBRATION MONITORING EQUIPMENT
5.2.1 End-user Industry
5.2.1.1 Oil and Gas
5.2.1.2 Power Generation
5.2.1.3 Process and Manufacturing
5.2.1.4 Aerospace and Defense
5.2.1.5 Automotive and Transportation
5.2.1.6 Other End-user Industries (Marine, Mining, Metal, etc.)
5.2.2 Geography
5.2.2.1 North America
5.2.2.1.1 United States
5.2.2.1.2 Canada
5.2.2.2 Europe
5.2.2.2.1 Germany
5.2.2.2.2 United Kingdom
5.2.2.2.3 France
5.2.2.2.4 Rest of Europe
5.2.2.3 Asia Pacific
5.2.2.3.1 China
5.2.2.3.2 Japan
5.2.2.3.3 India
5.2.2.3.4 Rest of Asia Pacific
5.2.2.4 Rest of the World
5.2.3 Vendor Market Share Analysis
5.3 THERMOGRAPHY EQUIPMENT
5.3.1 End-user Vertical
5.3.1.1 Oil and Gas
5.3.1.2 Power Generation
5.3.1.3 Process and Manufacturing
5.3.1.4 Aerospace and Defense
5.3.1.5 Automotive and Transportation
5.3.1.6 Other End-user Verticals (Marine, Mining, Metal, etc.)
5.3.2 Geography
5.3.2.1 North America
5.3.2.1.1 United States
5.3.2.1.2 Canada
5.3.2.2 Europe
5.3.2.2.1 Germany
5.3.2.2.2 United Kingdom
5.3.2.2.3 France
5.3.2.2.4 Rest of Europe (Eastern Europe and Other Western European Countries)
5.3.2.3 Asia Pacific
5.3.2.3.1 China
5.3.2.3.2 Japan
5.3.2.3.3 India
5.3.2.3.4 Rest of Asia Pacific
5.3.2.4 Rest of the World (Latin America & Middle East and Africa)
5.3.3 Vendor Market Share Analysis
5.4 LUBRICATING OIL ANALYSIS EQUIPMENT
5.4.1 End-user Vertical
5.4.1.1 Oil and Gas
5.4.1.2 Power Generation
5.4.1.3 Process and Manufacturing
5.4.1.4 Aerospace and Defense
5.4.1.5 Automotive and Transportation
5.4.1.6 Other End-user Verticals (Marine, Mining, Metal, etc.)
5.4.2 Geography
5.4.2.1 North America
5.4.2.1.1 United States
5.4.2.1.2 Canada
5.4.2.2 Europe
5.4.2.2.1 Germany
5.4.2.2.2 United Kingdom
5.4.2.2.3 France
5.4.2.2.4 Rest of Europe
5.4.2.3 Asia Pacific
5.4.2.3.1 China
5.4.2.3.2 Japan
5.4.2.3.3 India
5.4.2.3.4 Rest of Asia Pacific
5.4.2.4 Rest of the World (Latin America and Middle East and Africa)
5.4.3 Vendor Market Share Analysis
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles*
6.1.1 Meggitt Sensing Systems (Meggitt PLC)
6.1.2 Rockwell Automation Inc.
6.1.3 GE Bently Nevada
6.1.4 Emerson Electric Co.
6.1.5 SKF AB
6.1.6 Brüel & Kjaer Vibro
6.1.7 FLIR Systems Inc.
6.1.8 Fluke Corporation
6.1.9 Nippon Avionics Co., Ltd.
6.1.10 Thermo Fisher Scientific Inc.
6.1.11 Perkin Elmer Inc.
6.1.12 AMETEK Spectro Scientific
6.1.13 Parker Kittiwake (PARKER HANNIFIN CORP.)
6.1.14 Gastops Ltd
7. INVESTMENT ANALYSIS
8. FUTURE OF THE MARKET
** Subject to Availability