Global $1.9 Billion Vibration Monitoring Market 2017 - Outlook to 2023 - Research and Markets

DUBLIN--()--The "Vibration Monitoring - Global Market Outlook (2017-2023)" report has been added to Research and Markets' offering.

The Global Vibration Monitoring Market accounted for $1.12 billion in 2016 and is expected to reach $1.90 billion by 2023 growing at a CAGR of 7.8% during the forecast period.

Some of the driving factors such as growing demand for vibration monitoring through wireless systems, infiltration of smart factory, rising demand for applications and increasing awareness towards predictive maintenance are contributing for the market growth. On the contrary, unnecessary cost of maintenance and extra cost of retrofitting vibration monitoring solutions on existing machinery are some restraints hampering the market.

Vibration monitoring systems are used for reducing the price of operation by maintenance cost and reducing the occurrences of unexpected outages. The usage of this equipment is growing at a wide range in various industrial applications owing to its capability to identify potential failures in advance of any machinery.

Some of the key players in this market

  • Vibrosystm Inc.
  • STI Vibration Monitoring Inc.
  • SKF Ab
  • Schaeffler Technologies Ag & Co. Kg
  • Pruftechnik Dieter Busch Ag.
  • Omron Corporation
  • Mistras Group Inc.
  • Meggitt Plc
  • Honeywell International Inc.

System Types Covered:

  • Vibration Meters
  • Embedded Systems
  • Vibration Analyzers

Offerings Covered:

  • Software
  • Hardware
  • Services

Products Covered:

  • Non-Portable Devices
  • Portable Devices
  • Online Vibration Monitor
  • Other Products

End Users Covered:

  • Pulp and Paper
  • Food and Beverages
  • Automotive
  • Metals and Mining
  • Oil and Gas
  • Marine
  • Aerospace and Defense
  • Chemicals
  • Energy and Power
  • Semiconductor and Electronics
  • Cement
  • Railways
  • Other End Users

For more information about this report visit https://www.researchandmarkets.com/research/54qtft/vibration

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Mechanical Engineering

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Mechanical Engineering