Global Machine Condition Monitoring Equipment Market to Witness 5% CAGR During 2016 - 2022: P&S Market Research

Apr 25, 2016, 08:30 ET from P&S Market Research

NEW YORK, April 25, 2016 /PRNewswire/ --

According to market research report "Global Machine Condition Monitoring Equipment Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Monitoring Type (Vibration Monitoring, Ultrasound Emission, Thermography, Lubricating Oil Analysis, Corrosion Monitoring, Motor Current Signature Analysis and Others), by End User (Aerospace & Defense, Automotive, Chemical, Marine, Metals & Mining, Oil & Gas, Energy & Power, and Others), by Monitoring Process (Portable Condition Monitoring, and Online Condition Monitoring)" by P&S Market Research, the global machine condition monitoring equipment market is expected to grow at a CAGR of 4.5% during 2016 - 2022.

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Among the various end users, the oil and gas segment accounted for largest share in the global machine condition monitoring equipment market in 2015. The surge in smart factories development, along with the advancement in efficiency and accuracy of machine conditioning component is expected to drive the growth of the machine condition monitoring equipment market during the forecast period.

Over the last few years, asset management and reliability-centered maintenance has witnessed notable growth. In order to cut down the operating expenses, the companies are investing in predictive maintenance technologies for operating their plants more efficiently and productively.

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The global online condition monitoring market is expected to witness considerable growth in predictive maintenance technique, especially in developing countries during the forecast period. Among the various components, the infrared sensor segment and corrosion probes segment are expected to be two of the fastest growing segments during the forecast period.  

The global machine condition monitoring equipment market is fragmented, with only few larger players operating globally. The entry barrier for new entrants in machine condition monitoring equipment market is fairly low, owing to low capital requirement and significant low proprietary learning curve in machine condition monitoring technologies.

Some of the companies operating in the global machine condition monitoring equipment market include General Electric Company, Corrpro Companies Inc., Emerson Electric Co., Alava Ingenieros Group, AB SKF, Honeywell International Inc., Parker Hannifin Corporation, Rockwell Automation Inc., Azima Dli Corporation, SAJ Engineering and Trading Company, The Timken Company, National Instruments Corporation, Brüel & Kjær Vibro GmbH, and Danaher Corporation.

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By Monitoring Type 

  • Vibration Monitoring
  • Ultrasound Emission
  • Thermography
  • Lubricating Oil Analysis
  • Corrosion Monitoring
  • Motor Current Signature Analysis
  • Other

By End User 

  • Aerospace & Defense
  • Automotive
  • Chemicals
  • Marine
  • Metals & Mining
  • Oil & Gas
  • Energy & Power
  • Energy & Power
  • Other

By Monitoring Process 

  • Portable Condition Monitoring
  • Online Condition Monitoring

By Component  

  • Vibration Sensor
  • Ultrasound Detector
  • Infrared Sensor
  • Spectrometer
  • Spectrometer
  • Corrosion Probes 
  • Spectrum Analyzer
  • Other


By Region 

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Western Europe
    • U.K.
    • Germany
    • France.
    • Italy
    • Rest of Western Europe
  • Central and Eastern Europe
    • Russia
    • Rest of Central and Eastern Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia-Pacific
  • Middle East and Africa (MEA)
    • Saudi Arabia
    • Rest of MEA

About P&S Market Research 

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SOURCE P&S Market Research