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Machine Condition Monitoring Market by Monitoring Type, Offering, Industry, Monitoring Process, and Geography - Global Forecast to 2022

Machine Condition Monitoring Market: Global Forecast until 2022

  • November 2016
  • 189 pages
  • ID: 4364962
In this report:
The market for motor current signature analysis (MCSA) for the aerospace & defense industry is expected to grow at the highest CAGR of ##.##% between 2016 and 2022.
The machine condition monitoring market registered a shipment of ##.## thousand units in 2015, which is expected to reach ##.## thousand units by 2022, at a CAGR of ##.##% between 2016 and 2022.


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"Machine condition monitoring market to exhibit a significant increase potential between 2016 and 2022"

The machine condition monitoring market is anticipated to increase at a compound annual growth rate (CAGR) of 7.00 percent between 2016 and 2022 and is likely to be valued at ~$3.1B by 2022. The main driving factors for the increase ot the machine condition monitoring market are the growing use of wireless communication technology, increase in the HVAC systems market, growing trend of smart factory or Market 4.0, and transition from preventive to predictive maintenance. Nevertheless, the main restraining factors for the increase of this market are unpredictable maintenance schedules and additional expenses incurred in retrofitting the existing systems.

"Market for motor current signature review forecasted to grow at the maximal rate during projection period"

The sector for MCSA is anticipated to rise at an important compound annual growth rate (CAGR) between 2016 and 2022. The common reasons for motor failures contain bearing failure, overloading, normal insulation deterioration, unbalanced or incorrect voltage, misalignment/vibration, and poor maintenance practices; MCSA helps to monitor the above mentioned parameters, thereby reducing motor failures and energy consumption.

"Oil and gas to hold the most important share of the global machine condition monitoring market in 2016"

The oil and gas sector is forecasted to hold the biggest share of the overall machine condition monitoring market in 2016. The oil and gas markets use extremely complex and expensive equipment including boilers, pumps, generators, and piping network for their operations. The equipment consumes a lot of power and generates an equally big amount of heat. Even a minor fault in the equipment can result into a rise in power consumption and may even trigger the release of powerful gases, or lead to an explosion, which is why, predictive maintenance technologies are essential in these sectors.

"Asia-Pacific to be the quickest developing market for machine condition monitoring during the outlook period"

The industry for machine condition monitoring in Asia-Pac is anticipated to grow at an important rate between 2016 and 2022. Quick industrialization, increasing adoption of predictive maintenance tools, and competitive pressure to accomplish operational efficiency are driving the increase of the machine condition monitoring market in this area.

The break-up of the profiles of primary members taking part for the industry report has been provided below.

- By Company Type: Tier 1 - 50.0 percent, Tier 2 - 30.0 percent, and 1/3 3 - 20.0 percent

- By Designation: C-suite executives - 60.0 percent, Directors- 25.0 percent, and Others - 15.0 percent

- By area: North america (NA) - 35.0 percent, Europe - 25.0 percent, APAC - 30.0 percent, and rest of the world - 10.0 percent

The top players operating in the machine condition monitoring market contain Emerson Electric (NYSE:EMR), General Electric (NYSE:GE), Honeywell (NYSE:HON), National Instruments Corp., SKF AB, Parker Hannifin Corp., Rockwell Automation (NYSE:ROK), Bruel & Kjaer Vibro GmbH, Azima DLI Corp., Meggitt PLC, ALS Ltd., and Schaeffler AG.

Segment Research

The research report on the overall machine condition monitoring market includes distinct segments-monitoring type, offering, sector, monitoring process, and territory. The market has been split on the basis of monitoring type into vibration monitoring, thermography, lubricating oil study, corrosion monitoring, ultrasound emission, and MCSA. On the basis of offering, the machine condition monitoring market has been categorized into hardware and software.

The machine condition monitoring market has been split on the basis of market into oil and gas, energy and power, metals and mining, chemicals, automotive, aerospace and defense, food and beverages, marine, and others. Additionally, the study contains two types of monitoring processes-online monitoring and portable monitoring. The analysis includes the industry in four main geographical regions-North America, Europe (EU), Asia Pacific (APAC), and Rest of the globe.

Main highlights

Figures of segmentation, review, and estimate for the sector based monitoring type, offering, market, monitoring process, and area have been organized to give an global view of the machine condition monitoring market.

The porter's five forces scheme has been utilized, together with the value chain study, to offer a detailed insight into the machine condition monitoring market.

The main drivers, market restraints, alternatives, and opportunities for the machine condition monitoring market have been precised in this industry report.

The market research includes an exhaustive competitive analysis, together with complete study and revenue of main actors.

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