The global machine condition monitoring market was valued at USD 2.9 billion in 2021 and is projected to reach USD 5.2 billion by 2030, at a CAGR of 9.4% during the forecast period. Machine condition monitoring devices offers the information that need to avoid unplanned downtime. Smart manufacturing is enabled through real-time monitoring of your machine’s health and condition. Enables to anticipate and mitigate future equipment problems before they have a negative impact on quality or maintenance expenses.
By analyzing the condition of the machine, such as temperature, humidity, pressure, among others, a machine condition monitoring system will help predict mechanical damage and breakdown. Noise, temperature, and vibration measurements are also important indications of equipment condition. Failure of equipment results in significant losses, which drives the use of machine condition monitoring systems in industries like oil and gas, metals and mining, food and beverage, and automotive.
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The study’s scope includes a rating of main service providers, profits and pricing in key market segments utilizing business scenarios. The Machine Condition Monitoring research study also investigates the supply chain and industry dealers in depth. The market study also considers a number of crucial elements that influence the global industry’s growth. The report also provides a statistical picture of the global industry, indicating the number of external and internal driving and restraining factors. The Market Research study’s global market research study will feature a large amount of unique data. A number of Machine Condition Monitoring industry professionals and key opinion leaders also do extensive quantitative and qualitative research in order to obtain a better understanding of the market and industry performance.
The report provides a comprehensive analysis of company profiles listed below:
Siemens
SKF
Baker Hughes Company
Fluke Corporation
Senseye Ltd
Emerson Electric Co.
General Electric
Dewesoft d.o.o.
Parker Hannifin Corp
Honeywell International Inc.
NATIONAL INSTRUMENTS CORP.
ALS
Wilcoxon Sensing Technologies
Rockwell Automation, Inc.
Brüel & Kjær Vibro GmbH
Meggitt PLC
PCB Piezotronics, Inc.
Teledyne FLIR LLC
SPM Instrument AB
Analog Devices, Inc.
Type Analysis of World Wide Market:
Vibration Monitoring
Thermography
Oil Analysis
Corrosion Monitoring
Ultrasound Emission Monitoring
Motor Current Analysis
Segmentation of global Machine Condition Monitoring Market by Application:
Oil & Gas
Power Generation
Metal & Mining
Chemicals
Automotive
Aerospace
Food & Beverages
Marine
Others
The study report offers a comprehensive analysis of Machine Condition Monitoring Market size across the globe as regional and country level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background and sales analysis of the payers. Along with that, the report explains the major challenges and risks to face in the forecast period. Market is segmented by Type, by Application, Players, stakeholders and other participants in the global Market will be able to gain the upper hand as they use the report as a powerful resource.
Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America (Brazil, Argentina and Colombia etc.)
• Middle East & Africa (South Africa, UAE and Saudi Arabia etc.)
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This research report gives detailed data about the major factors influencing the growth of the Machine Condition Monitoring market at the global level forecast of the market size, in terms of value, market share by region and segment, regional market positions, segment and country opportunities for growth, Key company profiles, SWOT Analysis, product portfolio and growth strategies. In this report, the market’s essential sides such as top participants, expansion strategies, business models and other market features to improve market insight.
