Thermography Condition Monitoring Equipment Market Size

Thermography Condition Monitoring Equipment Market Analysis

The Global Thermography Condition Monitoring Equipment Market is expected to register a CAGR of around 5.5% during the forecast period. The thermography condition monitoring equipment uses a thermal imager to detect radiation in the form of heat coming from an object. Thermography plays a crucial role, and it is a valuable tool for condition monitoring and preventive maintenance.

• The thermography condition monitoring equipment prevents unforeseen breakdowns that could disrupt production, interrupt power, or even cause a fire. The infrared thermography process detects the energy emitted from an object and detects heat-related issues before they become a disaster for all, thus driving the market's growth.
• The benefits of the thermography condition monitoring equipment include 24/7 remote monitoring, reduction in unplanned downtime, early warnings of potential (serious) failures, support ongoing reliability, reduction in maintenance cost, and risk reduction with fewer inspections at confined and remote assets. The thermography condition monitoring equipment lowers the stress level of maintenance staff in process industries.
• Condition monitoring supports various goals for manufacturers, including reducing and eliminating unplanned machine downtime, optimizing machine health and performance, improving quality and reducing scrap parts, driving a higher-performing maintenance program based on accurate machine data, and enabling automation based on real-time machine condition data.
• The Internet of Things (IoT) is driving the demand for condition monitoring equipment. The IoT is set to change condition monitoring as devices can connect and communicate. This indicates that connected smart machines in different locations can communicate to provide a joined-up comparison between systems. Preventative maintenance ensures employees' safety and promotes safer working conditions by inspecting and fixing items before they breakdown. Condition monitoring means that owners can plan maintenance before failure occurs that could pose a threat to employees working nearby.
• The epidemic has caused a sharp fall in the number of businesses all over the world that have crucial assets for manufacturing goods and services. Since manufacturing activity is low, companies are tempted to eliminate maintenance, resulting in high prices in the coming future. Due to the COVID-19 pandemic, the global supply chain and demand for thermography condition monitoring equipment were disrupted, severely impacting market adoption. Globally, countries have noticed a shortage of condition monitoring equipment due to the production stoppage during the pandemic.