NEW YORK, Dec. 30, 2015 /PRNewswire/ -- Market overview of the vibration meter market
A vibration meter is a device that measures the vibrations and oscillations originating from machines and components. The ability of these devices to accurately monitor the machine condition is expected to result in this market's steady growth during the forecast period. The stable growth of the primary end-user segments like manufacturing, chemical processing, and oil and gas is predicted to result in this market's steady CAGR of nearly 7% by 2020.
In this market study, Technavio market research analysts estimate the Americas to dominate over all the other geographies during the forecast period. The introduction of stringent safety restrictions and equipment maintenance regulations in the North American region is expected to impel the market for vibration meters in the Americas.
Market segmentation of the vibration meters market by product
In this market study, analysts have estimated the digital vibration meters segment to account for nearly 85% of the overall market share during the forecast period. The falling popularity of analog meters is a significant factor that accounts for this segment's high market share during the forecast period.
End-user segmentation of the vibration meter market
• Chemical processing
• Oil and gas
Technavio's market research analyst estimates the manufacturing segment to be the largest market segment during the forecast period. The market share of this segment is expected to reach close to 30% by the end of 2020 due to the recent increase in the new applications for vibrations meters.
Competitive landscape and key vendors
This market is highly fragmented due to the presence of multiple large and small vendors. Though there are several vendors in the market with strong global presence, most the domestic players have a larger share of the market in their respective regions. However, it has been observed that unlike other markets, there is no single business entity that dominates this market during the forecast period.
The top five leading vendors of the market include -
• Davis Instruments
• SPM Instruments
The other prominent vendors of the market include Blamac, Castle Group, Cole-Parmer, Hansford, Lutron Electronic Enterprise, MCM instruments, PCE instruments, and Reed instruments.
Key questions answered in the report
• What are the key factors driving the global vibration meter market?
• What are the key market trends impacting the growth of the global vibration meter market?
• What are the various opportunities and threats faced by the global vibration meter market?
• Trending factors influencing the market shares for EMEA, APAC, and Americas?
• Key outcome of the five forces analysis on the global vibration meter market?
• Growth forecast of the global vibration meter market in power industry until 2020?
Technavio also offers customization on reports based on specific client requirement.
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