Global Trend & Forecast on Machine Condition Monitoring – 2020

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Global Trend Forecast on Machine Condition
Monitoring 2020
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Summary
The best overall machinery condition monitoring
program is one that utilizes multiple and
integrated monitoring technologies that are
well-suited to detect expected failures. For
low-risk machines, condition monitoring or the
analysis of monitoring data can be performed by a
mechanic or operator using basic monitoring
tools. For machines of higher criticality, a
certified condition monitoring professional
should use the advanced data collection
analysis hardware and software. Machine
condition monitoring is the most preferred
predictive maintenance tool in various
industries, as through various condition
monitoring methods, a monitoring professional can
detect, predict, and prevent a wide array of
machine and equipment failure. Condition
monitoring not only finds various equipment and
machinery faults it is also able to accurately
point the cause of the machine failure.
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The global market for machine condition
monitoring was valued at USD 1544.0 million in
2014 and is expected to reach around USD 2.450
billion by 2020 at a CAGR of 7.6 between 2015
and 2020. North America leads with more than 45
share of the overall market, followed by Europe
however, APAC is expected to be the
fastest-growing markets. One of the key drivers
of the market is the widespread transition to
predictive maintenance from preventive
maintenance in various process industries.
Strategies for growth adopted by several players
comprised new product developments and
agreements, and contracts partnerships and on
others. The report presents a detailed insight
on the current machine condition monitoring
equipment market, and identifies key trends of
various segments of the market with in-depth
quantitative and qualitative information. The
report segments the global machine condition
monitoring equipment market on the basis of
monitoring types, components, monitoring
processes, applications, and geography.
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Further, it contains market size forecasts, and
trend analysis Detailed geographic insights with
respect to major regions such as North America,
APAC, Europe and Rest of the World have been
analyzed. Major players in global machine
condition monitoring equipment market are Azima
DLI Corporation (U.S), Bruel Kjaer Sound
Vibration Measurement A/S (Denmark), Emerson
Process Management (U.S), General Electric
Company (U.S.), Honeywell International, Inc.
(U.S.), National Instruments Corporation (U.S.),
Rockwell Automation, Inc. (U.S.), SKF (Sweden),
and Fluke Corporation (U.S.). Market Overview
and Industry trends, along with Premium Insights
and additional qualitative analysis account for
the market analysis. The market classification
encompasses segmentation sub-segmentation of
the market based on components, monitoring types,
monitoring processes, applications, and
geography.
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Table of Contents
1 INTRODUCTION 2 RESEARCH METHODOLOGY 3
EXECUTIVE SUMMARY 4 PREMIUM INSIGHTS 5 MARKET
OVERVIEW 6 INDUSTRY TRENDS 7 MARKET BY
MONITORING TYPE 8 MARKET, BY COMPONENT 9
MARKET, BY APPLICATION 10 MARKET, BY MONITORING
PROCESS
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To view the full Executive Summary and Table
of Contents, please visit Global Trend
Forecast on Machine Condition Monitoring 2020
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