Monitoring a mechanical process and predictive maintenance after vibration sensors or vibration analysis is an inevitable part of an industry. Similarly, infrared thermography is used for machine condition monitoring. Watching the working condition of machines such heat exchangers is necessary to maintain the production process in a stipulated time. Unscheduled and unexpected downtime of equipment and machinery hinders the processing time of services and products which further leads to increased production cost and wastage of resources. Machine conditioning monitoring is a process that involves surveillance of the machines for breakdown, temperature, moisture presence, vibrations, pressure, leakage, lubrication, and so on. Executing a planned strategy in a controlled manner to look after the condition of the machine is generally known as the machine condition monitoring, and it is very important for numerous end-user industries. Industrial establishment in the Indian market is exuberant.
The country possesses a huge ecosystem of manufacturing, agricultural, food & beverage, oil & gas, consumer electronics, and retail industries that are supporting the growth of the Indian machine condition market size. The market players influencing the Indian machine condition monitoring market are leveraging upon the growing industrial activities in the country and governmental laws that are heavily supporting the industrialization. The Indian machine condition monitoring market generated revenues worth $93.27 million in 2018 and the market size is expected to grow at an above-average CAGR of 10.95% during the forecast period 2019 to 2025. With the Industry 4.0 update, the techniques and methods applied in the machine condition monitoring are witnessing astonishing technological update. Technologies such as cloud computing, machine learning, and data analysis are the biggest trend in the current machine condition monitoring market. Top companies active in the machine condition monitoring market have already started or are about to start providing their services in the form of online-systems condition monitoring, handheld tool monitoring, sensor-based condition monitoring, optical condition monitoring, and web-based monitoring. Integration of such technologies is expected to drive the machine condition market at a staggering pace in the country.
End-User Industrial Application Analysis in the Indian Machine Condition Monitoring Market
The effective maintenance of such a machine is a real challenge and involves a significant economic effort. Therefore, the majority of the food manufacturing companies are adamant to monitor the conditions of the machine in their manufacturing unit. The integration of advanced technological upgrades in the food and beverage industry is benefiting the food companies at a considerate level. For instance, the food production facilities are using sensors for tracking and tracing raw materials, remote monitoring has helped the production operators to monitor, manage, and evaluate the production remotely; access to data insights, leveraging upon the 21st century oil, the data, these food companies are analyzing the data generated every second and are applying multiple machine learning algorithms to improvise the business process which can save them money along with high yields of production. Thus, with such commercially viable and effective technical update, the opportunities in the Indian machine condition monitoring market are certain to flourish in the upcoming years. Analyzing the machines that are preparing the food is important for the shelf-life of the product. The growing demands of customers for nutritional ready-to-eat food is increasing the prevalence of packaged food in the country. The high demands for packaged foods in the country have encouraged the food companies to utilize the advance machine condition monitoring tools for the best output of their product. Thus, the millennia’s demand for their favorite packaged food and growing disposable income in the country are tremendously benefiting the Indian machine condition monitoring market.
With the emerging Industrial Internet of Things (IIoT), the manufacturers are readily transitioning into IoT-driven machine condition monitoring and maintenance. With IIoT, the manufacturers have made it easy to detect and fix equipment that is potentially damaged. Condition monitoring in the automotive sector enables product quality control by detecting a list of equipment health such as engine temperature, spindle frequency, cutting speed, and parameters such as humidity and temperature. The demands of automobiles in the country is massive, and the emerging autonomous vehicle (AV) and electric vehicle (EV) market in the region is expected to charge the automotive industry. With such growth prospects arising from the automotive industry, the Indian machine condition monitoring market will witness prolific growth soon.
Indian Machine Condition Monitoring Market Competitive Landscape
The companies influencing the Indian machine condition monitoring market are Emerson Electric Co., General Electric, Honeywell International Inc., Meggitt PLC, Parker-Hannifin Corporation, Rockwell Automation Inc., Schaeffler Technologies AS & Co. KG, AB SKF, Fluke Corporation., Toshniwal Industries Pvt. Ltd., National Instruments Corporation, Bruel & Kjaer, and PCE Instruments.
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Machine Condition Monitoring Market
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