Market Highlights
Machine Condition Monitoring Market is expected to grow t substantial rate during the forecast period. Shift from preventive maintenance to predictive maintenance is one of the major driving factor of the market. In this developing environment, the observations show biggest opportunities in equipment manufacturing as the optimization of maintenance and providing supporting services to enable cost savings. The organizations are looking forward to determining the condition of their equipment to foresee a need for maintenance in the near future, so they can make informed decisions. Traditional preventative maintenance has undergone scrutiny and a need to shift from preventive to predictive maintenance. Owing to these factors a shift from preventive maintenance to predictive maintenance is witnessed.
Machine condition monitoring is an integral part of predictive maintenance. Predictive maintenance is regular monitoring of the actual mechanical condition, operating efficiency, and other indicators of the operating condition of machines and process systems will provide the data required to ensure the maximum interval between repairs and minimize the number and cost of unscheduled outages created by the failures. Predictive maintenance helps companies foresee the likely developments in a machine’s condition and plan their service activities accordingly. Recently there has been a rise in demand for transforming maintenance and reducing asset downtime which is fulfilled by predictive maintenance. Thus, the shift from preventive to predictive maintenance is responsible for the growth of machine condition monitoring market.
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The global Machine Condition Monitoring market is expected to reach USD 2.91 billion by the end of 2023 with 5.55% CAGR during forecast period 2017-2023.
Taste the market data and market information presented through more than 85 market data tables and figures spread over 108 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Machine Condition Monitoring Market Research Report -Forecast to 2023”.
The prominent players in the market of Machine Condition Monitoring market are – Emerson Electric (U.S.), General Electric (U.S.), Rockwell Automation (U.S.), Timken (U.S.), FLIR Systems (U.S.), SKF (Swedan), NSK (Japan), Parker-Hannifin (U.S.), PCB Piezotronics (U.S.) among others.
Market Research Future Analysis
The international crude oil and natural gas market is saturated due to continuous supply from the Middle East and Russia and surplus production of shale oil and gas in North America. This saturation has also led to a decline in crude oil and natural gas prices. These factors have negatively hampered the market as many oil and gas drilling projects have been put on hold, pending a decline in international energy prices.
In this report, covers the present scenario and growth prospects of the global machine condition monitoring market for 2016-2023. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market.
Table of Content:
4 Introduction
4.1 Key Market Highlights 16
4.2 Maintenance Methodologies 16
5 Market Landscape
5.1 Market Overview 22
5.2 Five Forces Analysis 24
6 Market Drivers
6.1 Shift From Preventive Maintenance To Predictive Maintenance 29
6.2 Employee Health And Safety Standards Commonly Followed Across Industries Worldwide 31
6.3 Capital Investments By Leading Automobile Companies 32
7 Impact Of Drivers
8 Market Challenges
8.1 Lack Of Customization And Increased Costs 34
8.2 Slowdown In Major Economies And Its Implications On Machine Condition Monitoring Market 34
9 Impact Of Drivers And Challenges
10 Market Trends
10.1 Integration Of IoT In Machine Condition Monitoring 37
11 Market Segmentation, By End-User
11.1 Introduction 39
11.1.1 Power 41
11.1.2 Oil And Gas 43
11.1.3 Chemical And Petrochemical 44
11.1.4 Pulp And Paper 46
11.1.5 Cement 47
11.1.6 Steel And Metal 48
11.1.7 Pharmaceutical 49
11.1.8 Automotive 51
11.1.9 Food And Beverage 52
12 Geographical Segmentation
12.1 Market Overview 54
12.1.1 North America 56
12.1.2 Europe 58
12.1.3 Asia Pacific 62
12.1.4 Rest Of The World 66
13 Vendor Landscape
13.1 Competition Overview 69
14 Key Vendor Analysis
14.1 Emerson Electric 70
14.1.1 Business Overview 70
14.1.2 Emerson Electric – Key Products 70
14.1.3 Emerson Electric – Key Financials 70
14.1.4 Company Revenue 71
14.1.5 Business Strategy 72
14.1.6 SWOT Analysis 72
14.2 General Electric 73
14.2.1 Business Overview 73
14.2.2 General Electric – Key Products 73
14.2.3 General Electric – Key Financials 73
14.2.4 Company Revenue 74
14.2.5 Business Strategy 74
14.2.6 SWOT Analysis 75
14.3 Honeywell International, Inc. 76
14.3.1 Business Overview 76
14.3.2 Honeywell International – Key Products 76
14.3.3 Honeywell International – Key Financials 76
14.3.4 Company Revenue 76
14.3.5 Business Strategy 77
14.3.6 SWOT Analysis 78
14.4 Rockwell Automation 79
14.4.1 Business Overview 79
14.4.2 Rockwell Automation – Key Products 79
14.4.3 Rockwell Automation – Key Financials 79
14.4.4 Company Revenue 80
14.4.5 Business Strategy 80
14.4.6 SWOT Analysis 81
14.5 Timken 82
14.5.1 Business Overview 82
14.5.2 Timken – Key Products 82
14.5.3 Timken – Key Financials 82
14.5.4 Company Revenue 82
14.5.5 Business Strategy 82
14.5.6 SWOT Analysis 83
14.6 FLIR Systems 84
14.6.1 Business Overview 84
14.6.2 FLIR Systems – Key Products 84
14.6.3 FLIR Systems – Key Financials 84
14.6.4 Company Revenue 84
14.6.5 Business Strategy 85
14.6.6 SWOT Analysis 85
14.7 SKF 86
14.7.1 Business Overview 86
14.7.2 SKF – Key Products 86
14.7.3 SKF – Key Financials 86
14.7.4 Company Revenue 87
14.7.5 Business Strategy 87
14.7.6 SWOT Analysis 88
14.8 NSK 89
14.8.1 Business Overview 89
14.8.2 NSK – Key Products 89
14.8.3 NSK – Key Financials 89
14.8.4 Company Revenue 89
14.8.5 Business Strategy 90
14.8.6 SWOT Analysis 90
14.9 Parker-Hannifin 91
14.9.1 Business Overview 91
14.9.2 Parker-Hannifin – Key Products 91
14.9.3 Parker-Hannifin – Key Financials 91
14.9.4 Company Revenue 92
14.9.5 Business Strategy 92
14.9.6 SWOT Analysis 93
14.10 PCB Piezotronics 94
14.10.1 Business Overview 94
14.10.2 PCB Piezotronics – Key Products 94
14.10.3 MTS System Corporation (PCB Piezotronics) – Key Financials 94
14.10.4 Company Revenue 94
14.11 Halma 95
14.11.1 Business Overview 95
14.11.2 Halma – Key Products 95
14.11.3 Halma – Key Financials 95
14.11.4 Company Revenue 95
14.11.5 Business Strategy 96
14.12 National Instruments 97
14.12.1 Business Overview 97
14.12.2 National Instruments – Key Products 97
14.12.3 National Instruments – Key Financials 97
14.12.4 Company Revenue 97
14.13 Shinkawa 99
14.13.1 Business Overview 99
14.13.2 Shinkawa – Key Products 99
14.13.3 Shinkawa – Key Financials 99
14.13.4 Company Revenue 99
14.14 Azima DLI 100
14.14.1 Business Overview 100
14.14.2 Azima DLI – Key Products 100
14.15 Bruel & Kjaer Sound And Vibration Measurement 101
14.15.1 Business Overview 101
14.15.2 Bruel & Kjaer Sound And Vibration Measurement – Key Products 101
14.16 Fluke Corporation 102
14.16.1 Business Overview 102
14.16.2 Fluke Corporation – Key Products 102
14.17 PDS Condition Monitoring Services 103
14.17.1 Business Overview 103
14.17.2 PDS Condition Monitoring Services – Key Products 103
14.18 Saj Engineering & Trading Company 104
14.18.1 Business Overview 104
14.18.2 Saj Engineering & Trading Company – Key Products 104
14.19 Scientific Monitoring, Inc. 105
14.19.1 Business Overview 105
14.19.2 Scientific Monitoring – Key Products 105
14.20 SPM Instrument 106
14.20.1 Business Overview 106
14.20.2 SPM Instrument – Key Products 106
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