Condition Monitoring System Market to Exhibit Increased Demand in the Coming Years

Future Market Insights

Condition Monitoring System Market: Overview

The growing level of mechanization and automation in the manufacturing sector today has led to increased focus of players towards the efficiency of plant and hence the production processes. Thus it becomes vital to stop unscheduled outages of machines and optimize its performance. Condition monitoring is a process that provides information about the health of a machine by well-timed monitoring of machine condition. High availability of machines is the most significant lever for increasing productivity of a manufacturing unit, therefore it becomes necessary to identify potential sources of errors beforehand. The condition monitoring system intends to predict the mechanical wear and failure of a machine and facilitates preventive maintenance, reduce repair time and hence down time of a machine. Vibration, temperature and noise measurements are the key indicators used in machine condition monitoring. Condition monitoring system acts as an important tool particularly for difficult to reach plant and machines that can only be reached under specific condition such wind turbine and oil & gas plants, so the condition of machine is monitored regularly using online machine condition monitoring system. Other type of condition monitoring systems available are route-based monitoring, portable machine diagnostics, factory assurance test and online machine protection.

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Condition Monitoring System Market: Drivers and Restraints

Higher productivity and optimized utilization of resources makes the condition monitoring system market lucrative. Increased automation in manufacturing, increased investment in predictive maintenance strategies and growing machine maintenance solution market is boosting the growth of condition monitoring system market. Also  increased investments in chemicals, oil & gas, paper & pulp, heavy equipment and other industries tends to drive the condition monitoring system market.

On the other hand high cost of condition monitoring systems and unpredictable maintenance periods are restraints to the growth of condition monitoring system market.

Condition Monitoring System Market: Segmentation

On the basis of type of condition monitoring system, the market is segmented as:

  • Route-Based Monitoring
  • Portable Machine Diagnostics
  • Online Machine Monitoring
  • Online Machine Protection
  • Factory Assurance Test

On the basis of monitoring technology, the condition monitoring system market is segmented as:

  • Vibration Analysis
  • Corrosion monitoring
  • Lubricant Analysis
  • Infrared Thermography
  • Ultrasound Testing
  • Motor Condition Monitoring

On the basis of sensors and signals, the condition monitoring system market is segmented as:

  • Accelerometers
  • Proximity Probes
  • Tachometers
  • Thermal Camera
  • Spectrometer
  • Temperature Probes

On the basis of application, the condition monitoring system market is segmented as:

  • Automotive
  • Chemicals
  • Renewable Energy
  • Oil & Gas
  • Others (Aerospace & Defense, Pulp and paper, Metals & mining, etc.)

Condition Monitoring System Market: Region-wise Outlook

Global condition Monitoring system is expected to encounter significant growth during the forecast period. North America dominates the condition monitoring system market, followed by North America, Europe is the next major market for the condition monitoring systems. Asia Pacific is emerging market for the condition monitoring system, and is anticipated to represent substantial growth during the forecast period, particularly in regions such as China and India. Japan is other significant region and expected to contribute major share in the global condition monitoring system market.

Condition Monitoring System Market: Key Players

Key Players identified in the condition monitoring system market are

  • National Instruments Corporation.
  • Rockwell Automation, Inc.
  • PRÜFTECHNIK Dieter Busch AG.
  • Svenska Kullagerfabriken AB (SKF)
  • Siemens AG
  • Bachmann electronic GmbH
  • Brüel & Kjær Vibro GmbH
  • Parker Kittiwake
  • ifm electronic gmbh

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.

The report covers exhaustive analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

Regional analysis includes

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC, S. Africa, N. Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Report Highlights:

  • Detailed overview of parent market
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  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
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  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

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About abhishek 42 Articles
Abhishek Budholiya is a tech blogger, digital marketing pro, and has contributed to numerous tech magazines. Currently, as a technology and digital branding consultant, he offers his analysis on the tech market research landscape. His forte is analysing the commercial viability of a new breakthrough, a trait you can see in his writing. When he is not ruminating about the tech world, he can be found playing table tennis or hanging out with his friends.

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