Machine Condition Monitoring Market Technological Innovation, Application & Forecast to 2026 | Emerson Electric, General Electric, Fluke, Honeywell, Bruel & Kjaer, National Instruments, Meggitt, SKF, Rockwell Automation, Parker Hannifin etc

Machine Condition Monitoring Market

Machine condition monitoring allows maintenance to be scheduled, or other actions to be taken to prevent consequential damages and avoid its consequences. Machine condition monitoring techniques is used in rotating electric motors, internal combustion engines, presses equipment and pumps. The demand for machine condition monitoring is rapidly growing as they are widely used across various industries such as chemicals, automotive, metals, mining, aerospace & defense among many others. Condition monitoring has a unique benefit in that conditions that would shorten normal lifespan can be addressed before they develop into a major failure. Its unique benefits increase the lifespan of the machines.

The Global Machine Condition Monitoring Market is accounted for $2.11billion in 2017 and is expected to reach $4.45 billion by 2026 growing at a CAGR of 8.6%. Development of a secure cloud computing platform, increased use of wireless communication technology for condition monitoring of equipment and inclination of end users towards predictive maintenance are the factors fueling the market growth. However, factors such as lack of trained technical resources for data analysis and lack of trust in prediction capabilities of machine condition monitoring technology are restricting the market growth. In addition, strategic partnership and collaboration among key players provides huge growth opportunity for the market.

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Some of the key players in the global machine condition monitoring market include:
Pcb Piezotronics, Emerson Electric, Pruftechnik Dieter Busch, General Electric, Fluke Corporation, Honeywell, Bruel & Kjaer, National Instruments, Meggitt, Azima Dli, SKF, Rockwell Automation, ALS Ltd.,Parker Hannifin, Analog Devices, Flir Systems,3D Signals, SPM Instrument, Uptake Canada & Petasense.

Amongst monitoring processes, online and portable segment accounted for the largest market share in the global market. Online machine condition monitoring offers real time data to operators at the plant and is the most preferred monitoring process in significant services that effort continuously and are highly level to defects. By Geography, Asia Pacific region is expected to register the highest market growth rate during the forecast period owing to the increasing demand for conditioning-based maintenance.

Monitoring Techniques Covered:
- Motor Current Analysis
- Ultrasound Emission Monitoring
- Vibration Monitoring
- Thermography
- Corrosion Monitoring
- Oil Analysis

Offerings covered:
- Software
- Hardware

Deployment Types Covered:
- Cloud
- On Premise

Monitoring Processes Covered:
- Portable Condition Monitoring
- Online Condition Monitoring

End Users Covered:
- Marine
- Oil & Gas
- Food & Beverages
- Power Generation
- Automotive
- Metals & Mining
- Chemicals
- Aerospace & Defense
- Other End Users

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Fundamentals of Table of Content:

1 Report Overview

1.1 Study Scope

1.2 Key Market Segments

1.3 Players Covered

1.4 Market Analysis by Type

1.5 Market by Application

1.6 Study Objectives

1.7 Years Considered

2 Global Growth Trends

2.1 Machine Condition Monitoring Market Size

2.2 Machine Condition Monitoring Growth Trends by Regions

2.3 Industry Trends

3 Market Share by Key Players

3.1 Machine Condition Monitoring Market Size by Manufacturers

3.2 Machine Condition Monitoring Key Players Head office and Area Served

3.3 Key Players Machine Condition Monitoring Product/Solution/Service

3.4 Date of Enter into Machine Condition Monitoring Market

3.5 Mergers & Acquisitions, Expansion Plans

4 Breakdown Data by Product

4.1 Global Machine Condition Monitoring Sales by Product

4.2 Global Machine Condition Monitoring Revenue by Product

4.3 Machine Condition Monitoring Price by Product

5 Breakdown Data by End User

5.1 Overview

5.2 Global Machine Condition Monitoring Breakdown Data by End User

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