Worldwide Machine Condition Monitoring Industry to 2026 - Featuring General Electric, Honeywell International and National Instruments Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Machine Condition Monitoring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The global machine condition monitoring market exhibited moderate growth during 2015-2020. Looking forward, the analyst expects the global machine condition monitoring market to grow at a CAGR of 6.4% during 2021-2026.

Companies Mentioned

• Bruel & Kjar Vibro GmbH (Spectris PLC)
• Emerson Electric Co.
• Flir Systems
• Fluke Corporation (Fortive)
• General Electric
• Honeywell International
• National Instruments
• Parker Hannifin
• PCB Piezotronics (MTS Systems Corporation)
• Rockwell Automation
• Schaeffler Group
• SKF
• Symphony AzimaAI
• Wilcoxon Sensing Technologies (Amphenol Corporation).

Machine condition monitoring refers to the process of monitoring and measuring the temperature, humidity and pressure in mechanical equipment. It is commonly used in pumps, rotating and electric motors, internal combustion engines (ICEs) and presses. This involves vibration monitoring, corrosion monitoring, thermography, oil analysis, ultrasound emission and motor current analysis. These processes aid in predicting the mechanical wear and tear and diagnosing the site of unwanted noise, vibration, and heat generation that can damage the machine's components. Apart from this, they also enable proper scheduling of maintenance programs, minimizing the severity of machine downtime and ensuring the safety of the equipment.

Increasing digitization, along with significant growth in the oil and gas, automotive, defense, aerospace, manufacturing, food and beverage and marine industries, is one of the key factors creating a positive outlook for the market. Additionally, various technological advancements, such as the utilization of secure cloud computing platforms, wireless technologies and the integration with the Internet of Things (IoT), are acting as other major growth-inducing factors. Furthermore, increasing awareness regarding preventive maintenance among the masses is also driving the market growth. In line with this, widespread adoption of vibration monitoring systems that are used for measuring oscillations of components, such as belts, gears, bearings, drive motors and other parts, is also contributing to the market growth. Other factors, including extensive infrastructural developments, along with the increasing demand for heating, ventilation and air conditioning (HVAC) systems, are expected to drive the market further.

Key Questions Answered in This Report

• How has the global machine condition monitoring market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global machine condition monitoring market?
• What are the key regional markets?
• What is the breakup of the market based on the monitoring technique?
• What is the breakup of the market based on the offering?
• What is the breakup of the market based on the deployment type?
• What is the breakup of the market based on the end use industry?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global machine condition monitoring market and who are the key players?
• What is the degree of competition in the industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Machine Condition Monitoring Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market Breakup by Monitoring Technique

7 Market Breakup by Offering

8 Market Breakup by Deployment Type

9 Market Breakup by End-use Industry

10 Market Breakup by Region

11 SWOT Analysis

12 Value Chain Analysis

13 Porters Five Forces Analysis

14 Price Analysis

15 Competitive Landscape

15.1 Market Structure

15.2 Key Players

15.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/nq518y