Industrial Automation Magazine India

Global Machine Condition Monitoring Equipment Industry Report

Published on : Thursday 12-03-2020

Condition based maintenance comes out of the shadows as smart management of assets spirals into the spotlight.

    

New York, March 2020 – Machine Condition Monitoring Equipment market worldwide is projected to grow by US$974.9 Million, driven by a compounded growth of 5.7%. Vibration Monitoring Equipment, one of the segments analysed and sized in this study, displays the potential to grow at over 5.5%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$1.7 Billion by the year 2025, Vibration Monitoring Equipment will bring in healthy gains adding significant momentum to global growth.

Representing the developed world, the United States will maintain a 4.8% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$34.7 Million to the region's size and clout in the next 5 to 6 years. Over US$29.9 Million worth of projected demand in the region will come from Rest of Europe markets. In Japan, Vibration Monitoring Equipment will reach a market size of US$91 Million by the close of the analysis period. As the world's second largest economy and the new game changer in global markets, China exhibits the potential to grow at 8.3% over the next couple of years and add approximately US$261.1 Million in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.

Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others: ALS Limited, Azima DLI LLC, Brüel & Kjær Vibro, ClampOn AS, Cosasco, Crystal Instruments, CTRL Systems, Inc., Data Physics Corporation, Emerson Electric Co., FLIR Systems, Inc., Fluke Corporation, General Electric, Honeywell Process Solutions, ITT Corporation, Meggitt PLC, National Instruments Corporation, Parker Hannifin Corp., Parker Kittiwake, PCB Piezotronics, Inc., Rockwell Automation, Inc., Schaeffler Technologies AG & Co. KG, Shinkawa Electric Co Ltd, SKF and SPM Instrument AB.

Read the full report: https://www.reportlinker.com/p04484176/?utm_source=PRN