Condition Monitoring System Market: Overview
The growing level of mechanization and automation in the manufacturing sector today has led to increased focus of players towards the efficiency of plant and hence the production processes. Thus it becomes vital to stop unscheduled outages of machines and optimize its performance. Condition monitoring is a process that provides information about the health of a machine by well-timed monitoring of machine condition. High availability of machines is the most significant lever for increasing productivity of a manufacturing unit, therefore it becomes necessary to identify potential sources of errors beforehand. The condition monitoring system intends to predict the mechanical wear and failure of a machine and facilitates preventive maintenance, reduce repair time and hence down time of a machine. Vibration, temperature and noise measurements are the key indicators used in machine condition monitoring. Condition monitoring system acts as an important tool particularly for difficult to reach plant and machines that can only be reached under specific condition such wind turbine and oil & gas plants, so the condition of machine is monitored regularly using online machine condition monitoring system. Other type of condition monitoring systems available are route-based monitoring, portable machine diagnostics, factory assurance test and online machine protection.
To know more about this market, request a [email protected]https://www.futuremarketinsights.com/reports/sample/rep-gb-1046
Condition Monitoring System Market: Drivers and Restraints
Higher productivity and optimized utilization of resources makes the condition monitoring system market lucrative. Increased automation in manufacturing, increased investment in predictive maintenance strategies and growing machine maintenance solution market is boosting the growth of condition monitoring system market. Also increased investments in chemicals, oil & gas, paper & pulp, heavy equipment and other industries tends to drive the condition monitoring system market.
On the other hand high cost of condition monitoring systems and unpredictable maintenance periods are restraints to the growth of condition monitoring system market.
Condition Monitoring System Market: Segmentation
On the basis of type of condition monitoring system, the market is segmented as:
- Route-Based Monitoring
- Portable Machine Diagnostics
- Online Machine Monitoring
- Online Machine Protection
- Factory Assurance Test
On the basis of monitoring technology, the condition monitoring system market is segmented as:
- Vibration Analysis
- Corrosion monitoring
- Lubricant Analysis
- Infrared Thermography
- Ultrasound Testing
- Motor Condition Monitoring
On the basis of sensors and signals, the condition monitoring system market is segmented as:
- Proximity Probes
- Thermal Camera
- Temperature Probes
On the basis of application, the condition monitoring system market is segmented as:
- Renewable Energy
- Oil & Gas
- Others (Aerospace & Defense, Pulp and paper, Metals & mining, etc.)
Condition Monitoring System Market: Region-wise Outlook
Global condition Monitoring system is expected to encounter significant growth during the forecast period. North America dominates the condition monitoring system market, followed by North America, Europe is the next major market for the condition monitoring systems. Asia Pacific is emerging market for the condition monitoring system, and is anticipated to represent substantial growth during the forecast period, particularly in regions such as China and India. Japan is other significant region and expected to contribute major share in the global condition monitoring system market.
Condition Monitoring System Market: Key Players
Key Players identified in the condition monitoring system market are
- National Instruments Corporation.
- Rockwell Automation, Inc.
- PRÜFTECHNIK Dieter Busch AG.
- Svenska Kullagerfabriken AB (SKF)
- Siemens AG
- Bachmann electronic GmbH
- Brüel & Kjær Vibro GmbH
- Parker Kittiwake
- ifm electronic gmbh
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Mr. Abhishek Budholiya
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: [email protected]
For Media Enquiries: [email protected]