Europe Machine Condition Monitoring Market Forecast to 2027: COVID-19 Impact and Regional Analysis by Monitoring Technique; Offering; Deployment; Monitoring Process; and End User - ResearchAndMarkets.com

DUBLIN--()--The "Europe Machine Condition Monitoring Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Monitoring Technique; Offering; Deployment; Monitoring Process; and End User, and Country" report has been added to ResearchAndMarkets.com's offering.

The Europe machine condition monitoring market was valued at US$ 686.7 million in 2019 and is projected to reach US$ 1,030.2 million by 2027; it is expected to grow at a CAGR of 5.2% during the forecast period.

The machine condition monitoring market players have witnessed substantial demand for their respective products among end users in the developed countries over the years. In recent years, several manufacturers across industries in the developing countries are demanding for machine condition monitoring solutions. This factor is significantly catalyzing the growth of the machine condition monitoring market. The rising demand for condition monitoring solution is majorly attributed to the increasing awareness related to the benefits of condition monitoring.

The automotive manufacturing industry in Europe is one of the prominent industries in the region. As per the European Commission, the automotive sector contributes over 7% of the EU GDP. The region comprises a few of the major vehicle manufacturing countries, such as Germany, Spain, France, and the UK. According to ACEA, 21% of the cars globally are manufactured by the companies such as BMW, Volkswagen, Audi, and Aston Martin in the EU.

Germany is the largest contributor to the automotive market in Europe, accounting for over 29% share. Germany comprises major passenger car manufacturers such as VW, BMW, Opel, Daimler AG, and Audi, as well as major commercial truck manufacturers such as MAN. A robust automotive manufacturing sector in the region is expected to fuel the growth of the Europe machine condition monitoring market.

Italy is the most affected country in Europe due to COVID-19 outbreak and is expected to suffer an economic hit due to the lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. Spain and France are extending respective lockdown periods to fight COVID-19 spread.

The automotive industry, which is one of the top GDP contributors to the European economy, is also facing a strong production impact. The region-wide production losses owing to factory shutdowns amount to over 1.5 million vehicles so far. Moreover, A&D manufacturing also experienced a negative impact. However, several manufacturers are still maintaining a certain level of production. The wind turbine manufacturing industry in the region has also been impacted due to disruptions in supply chains for raw materials as well as components.

Rockwell Automation, SKF, General Electric Co., Emerson Electric, and National Instruments are among the key players in the Europe machine condition monitoring market.

Key Topics Covered:

1. Introduction

1.1 Study Scope

1.2 Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Machine Condition Monitoring Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 Europe - PEST Analysis

4.3 Ecosystem Analysis

5. Machine Condition Monitoring Market - Key Market Dynamics

5.1 Market Drivers

5.1.1 Increasing Demand for Automated Solutions in Manufacturing Facilities

5.1.2 Accentuating Awareness among End Users in Developing Countries

5.2 Market Restraints

5.2.1 Maintenance and Lifespan of Machine Condition Monitoring Systems

5.3 Market Opportunities

5.3.1 Increasing Adoption of Wireless Technologies

5.4 Future Trends

5.4.1 Embedded Sensors and Smart Wireless Communication to Revolutionize the Market

5.5 Impact Analysis of Drivers and Restraints

6. Machine Condition Monitoring Market - Europe Analysis

6.1 Europe Machine Condition Monitoring Market Overview

6.2 Machine Condition Monitoring Market - Revenue and Forecast to 2027 (US$ Million)

6.3 Market Positioning - Five Key Players

7. Machine Condition Monitoring Market Analysis - By Monitoring Technique

7.1 Overview

7.2 Machine Condition Monitoring Market, By Monitoring Technique (2019 and 2027)

7.3 Vibration Monitoring

7.3.1 Overview

7.3.2 Vibration Monitoring: Machine Condition Monitoring Market - Revenue and Forecast to 2027 (US$ Million)

7.4 Thermography

7.5 Oil Analysis

7.6 Corrosion Monitoring

7.7 Ultrasound Emission

7.8 Motor Current Analysis

8. Machine Condition Monitoring Market Analysis - By Offering

8.1 Overview

8.2 Machine Condition Monitoring Market, By Offering (2019 and 2027)

8.3 Hardware

8.3.1 Overview

8.3.2 Hardware: Machine Condition Monitoring Market - Revenue and Forecast to 2027 (US$ Million)

8.3.3 Vibration Sensors

8.3.4 Proximity Probes

8.3.5 Tachometer

8.3.6 Infrared Sensors

8.3.7 Spectrometer

8.3.8 Ultrasound Detectors

8.3.9 Corrosion Probes

8.3.10 Other

8.4 Software

8.4.1 Software: Machine Condition Monitoring Market - Revenue and Forecast to 2027 (US$ Million)

8.4.2 Data Integrator

8.4.3 Diagnosis Reporting

8.4.4 Order Tracking Analysis

8.4.5 Parameter Calculation

9. Machine Condition Monitoring Market Analysis - By Deployment Type

9.1 Overview

9.2 Machine Condition Monitoring Market, By Deployment Type (2019 and 2027)

9.3 Cloud

9.3.1 Overview

9.3.2 Cloud: Machine Condition Monitoring Market - Revenue and Forecast to 2027 (US$ Million)

9.4 On-Premise

10. Machine Condition Monitoring Market Analysis - By Monitoring Process

10.1 Overview

10.2 Machine Condition Monitoring Market, By Monitoring Process (2019 and 2027)

10.3 Online Condition Monitoring

10.3.1 Overview

10.3.2 Online Condition Monitoring: Machine Condition Monitoring Market - Revenue and Forecast to 2027 (US$ Million)

10.4 Portable Condition Monitoring

11. Machine Condition Monitoring Market Analysis - By End User

11.1 Overview

11.2 Machine Condition Monitoring Market, By End User (2019 and 2027)

11.3 Oil & Gas

11.3.1 Overview

11.3.2 Oil & Gas: Machine Condition Monitoring Market - Revenue and Forecast to 2027 (US$ Million)

11.4 Power Generation

11.5 Automotive

11.6 Aerospace & Defense

11.7 Food & Beverage

11.8 Manufacturing

11.9 Other

12. Machine Condition Monitoring Market Analysis - By Country

13. Impact of Coronavirus Outbreak

13.1 Impact of COVID-19 Pandemic On Europe Machine Condition Monitoring Market

13.1.1 Europe: Impact Assessment of COVID-19 Pandemic

14. Industry Landscape

14.1 Overview

14.2 Market Initiative

14.3 New Development

15. Company Profiles

15.1 Key Facts

15.2 Business Description

15.3 Products and Services

15.4 Financial Overview

15.5 SWOT Analysis

15.6 Key Developments

  • Honeywell International Inc.
  • Schaeffler Technologies AG & Co. KG
  • General Electric Company
  • Emerson Electric Co.
  • Parker Hannifin Corporation
  • Rockwell Automation Inc.
  • SKF
  • ALS Limited
  • National Instrument Corporation

For more information about this report visit https://www.researchandmarkets.com/r/v273su

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press 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