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Analysis of the Global Condition Monitoring Equipment Market

  • April 2015
  • -
  • Frost & Sullivan
  • -
  • 104 pages

Summary

Table of Contents

Cautious Optimism Despite Strong Headwinds

The condition monitoring equipment market is going through a difficult phase. Growing concerns about the global economy, turbulent oil prices, and geopolitical factors are challenging the market. Despite these challenges, pockets of opportunities across the industry have helped sustain the market. Frost & Sullivan’s assessment of the global condition monitoring equipment market in 2014 covers vibration condition monitoring equipment, lubricating oil analysis equipment, and thermography equipment. This report identifies key opportunities for growth while detailing key challenges and possible threats. The forecast period is from 2015 to 2019, with 2014 as the base year.

Key Findings

- The global condition monitoring equipment market is going through a difficult phase. Growing concerns about the global economy, turbulent oil prices, and geopolitical factors are challenging the market.
- Despite these challenges, pockets of opportunities across the market have helped sustain the condition monitoring equipment market.
- Technology improvements have played an important role in improving the usability, effectiveness, and capabilities of condition monitoring equipment, while bringing down costs.
- The convergence of technologies across many different areas, including wireless communication, sensors, cloud computing, data analytics, smart factories, and smart
mobility, is expected to give rise to new growth opportunities.
- Because of an aging workforce and the lack of skilled personnel, customers are turning to their hardware providers for additional support. Opportunities in design, installation, maintenance, data collection, and diagnostic services have created alternate revenue streams for condition monitoring equipment companies.
- Europe was a key region for concern in 2013. As the second largest market in terms of revenue contribution, the slowdown in manufacturing in this region directly impacted
market growth.
- The vibration condition monitoring equipment segment continues to be the dominant revenue contributor, with a market share of % in 2014.

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