Machine Condition & Health Monitoring Market: 7.16% CAGR Forecast to 2020 in New Research Report

DALLAS, August 29, 2014 /PRNewswire/ --

The global machine health monitoring market is expected to reach $2.50 Billion at a CAGR of 7.16% from 2014 to 2020. Machine Health Monitoring Market by Product (vibration monitoring, thermography, ultrasound emission, lubricating oil analysis, corrosion monitoring, motor current signature analysis), Component, Application and Geography - Global Forecast to 2014 - 2020 research report is of 353 pages and includes the detailed value chain analysis of the machine health monitoring industry. Complete report is available at http://www.reportsnreports.com/reports/290941-machine-health-monitoring-market-by-product-vibration-monitoring-thermography-ultrasound-emission-lubricating-oil-analysis-corrosion-monitoring-motor-current-signature-analysis-component-application-and-geography-global-forecast-to-2014-2020.html .

GE (U.S.) is one of the key players of machine health monitoring market. The company entered the machine health monitoring market by acquiring Bently Nevada (U.S.) in February 2002, which was one of the leaders at that time. Bently Nevada is a Machine Health Monitoring Equipment Company that provides services for systems and monitors machinery vibrations. GE's Bently Nevada product line is a leading player in machine health monitoring. Bently Nevada provides machinery protection and monitoring for refineries, petrochemical plants, power plants, and wind farms. The Bently Nevada product portfolio comprises monitoring systems, sensors and transducers, software, test and calibration equipment, custom products, and more. In August 2011, GE acquired Commtest (New Zealand) to boost Bently Nevada's product portfolio. This acquisition helped to bring more integrated offerings to their customers that took into account the health of the entire plant. The company has focused on developing new products through sustained research and making strategic acquisitions for enhancing their product portfolio.

Emerson Process Management (U.S.), a leading provider of automation technologies, is one of the primary companies in the machine health monitoring market. Emerson provides CSI technologies for machine health monitoring. CSI technologies consist of machine health monitoring solutions such as continuous projection, protection, and monitoring, portable technologies, vibration transmitters, sensors, machinery health management software, and equipment performance monitoring. The company comprises online monitoring tools under CSI technologies. The company offers a complete range of machine health monitoring equipment to provide reliability, cost efficiency, less downtime, high maintenance and profitability to its customers. Its strong geographic presence makes it well positioned to capitalize on the current trends in this industry.

The major drivers for the machine health monitoring market are the improvement in equipment reliability by effective projection of their failures, achieving reduction in frequency and severity of equipment downtimes, maximizing component life by proper scheduling of maintenance programs, maximizing equipment performance and throughput, ensuring the safety of equipment and personnel, and many more. There are restraints in the market such as achieving return on investment from machine health monitoring, unpredictable maintenance periods, and requirement of asset modifications to retrofit existing systems with machine health monitoring sensors that may inhibit the market growth. The increasing demand from emerging economies is one of the key opportunities for the process analyzer market.

Machine health monitoring industry companies profiled in this report include Azima Dli Corporation, Bruel & Kjaer , CTRL Systems, Inc. , Emerson Process Management , Fluke Corporation , General Electric Company , Honeywell International, Inc. , National Instruments Corporation , Parker Hannifin Corporation , Rockwell Automation, Inc. , Scanimetrics and SKF AB. Order a copy of Machine Health Monitoring Market 2014-2020 research report at http://www.reportsnreports.com/Purchase.aspx?name=290941 .

Key Takeaways 

• The total revenue of the Machine Health Monitoring market is expected to grow at an estimated CAGR of 7.16% from 2014-2020
• Analysis of the global market with special focus on high growth applications in each verticals and fast growing market segments
• Statistics by component, product type, application type, and geography, with a detailed classification splits by revenue
• Porter's analysis in detail along with the impact
• Major market trends, drivers, restraints, and opportunities for the Machine Health Monitoring market
• Illustrative segmentation, analysis, and forecast of the major geographic markets to give an overall view of the Machine Health Monitoring market
• The future of Machine Health Monitoring market from technical as well as market oriented perspectives
• Detailed competitive landscape with identification of the key players with in-depth market share analysis including individual revenue, and market share rankings.

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